Tillerson Warns Against Doing Business With Iran’s Revolutionary Guards

Secretary of State Rex Tillerson warned global companies that they do business with Iran’s Revolutionary Guards “at their own risk,” remarks that will add to investment uncertainty in a country eager to reap the economic benefits of a 2015 nuclear accord.

Tillerson, visiting Saudi Arabia to help inaugurate an alliance against Iran between the kingdom and Iraq, called on governments to join a U.S. sanctions regime against the Islamic Revolutionary Guard Corps, a hard-line military and political force.

“Both of our countries believe that those who conduct business with the Iranian Revolutionary Guard, any of their entities — European companies or other companies around the globe – really do so at great risk,” Tillerson said at a briefing with Saudi Foreign Minister Adel al-Jubeir.

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Even so, the IRGC controls huge swaths of Iran’s economy, and groups such as the American Enterprise Institute and the Foundation for Defense of Democracies argue that the chief executive officer of Aseman is linked to it, for example.

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