Amid a privatization campaign in Iran in past years, companies linked to Iran’s Revolutionary Guard have won tens of billions in no-bid government contracts under President Mahmoud Ahmadinejad, himself an alumnus. This includes the deeply entrenched Khatam al-Anbia, an engineering firm working in mining, construction, oil and gas, and other lucrative sectors. International sanctions on Iran might further strengthen the Guard by removing the little international competition it and its companies face.

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