After imposing sanctions on various Iranian corporations, banks and individuals, the US continues to tread on the road of mounting pressure on Iran and curbing the extent of terrorism in the Gulf region.
The administration has now introduced a fresh set of Iran sanctions with sole motive to put a restraint on the role of the Islamic Revolutionary Guard Corps (IRGC) in promoting terrorism.
The announcement of fresh sanctions came on Thursday from the Secretary of the State, Mike Pompeo, based on the high involvement of IRGC in the construction sector of the country. IRGC is held responsible for using the construction sector to continue with its role of promoting militant networks and expanding terrorism in various countries.
The semi-developed economy of Iran is depended upon the construction sector to some extent. Seeing the Iranian government’s continuous unchecked support to IRGC, it won’t be wrong to claim that the Iran sanctions will affect the country’s economy.
The involvement of the IRGC in Iran can be realized from the fact that the organization has control of the country’s one-third economy and has ties with scores of companies. Moreover, these corporations are providing the country’s armed forces with revenue of $12 billion and the construction sector is said to be the major source of this revenue.
Amongst many of the corporations controlled by the IRGC, the major ones are Khatam al-Anbia Construction Headquarters, Sepasad Engineering Co, and Hara Company.
Even though, the US has imposed sanctions on four construction materials, which include stainless steel 304L tubes, MN40 manganese brazing foil, MN70 manganese brazing foil, and stainless steel CrNi60WTi ESR + VAR, there is a high plausibility that these Iran sanctions will not prove successful in curbing the involvement of IRGC in country’s growth or terrorism as expected.
Proving such speculation is IRGC’s involvement in the smuggling of various goods and products, oil, gas and energy industry, telecommunication industry, infrastructure, automobile, and some parts of the health industry of the country.
With large control over the market and country’s economy, it will prove hard to rein in the IRGC’s and Iran’s support to terrorism, by any administration.
Furthermore, some of these sectors are somewhat dependent on the construction sector. Hence, the possibilities of newly imposed Iran sanctions serving its proposed purpose are bleak to a large extent, if not entirely.
Also, the scenario of rooting out the organization cannot be considered as it would cripple the economy of the country, leaving its citizens to struggle for basic needs for many years to come in future.
The current outlook of the Iranian government is entirely ignorant towards the collective growth of the Gulf region and putting an end to terrorism, which is leading to more and more chaos and plunge in the economy.
Would the Iran sanctions on the construction sector by the US administration serve its needful purpose or would the US be forced to take a sterner stance?