90 percent of Iran’s petrochemical industry controlled by Khamenei, IRGC

90 percent of Iran’s petrochemical industry controlled by Khamenei, IRGC

Iran’s petrochemical industry fueling the regime’s terrorism drive

Analysis by PMOI/MEK

Iran, June 14, 2019 - Following U.S. sanctions against the Iranian regime’s largest and most profitable petrochemical companies for their connections with the Revolutionary Guards (IRGC), al-Hayat daily cited revelations made by the Iranian opposition coalition National Council of Resistance of Iran (NCRI).

“Petrochemical industry serving IRGC terrorism and Iranian intelligence” is the title of a June 9 al-Hayat article citing NCRI revelations. The Ministry of Intelligence and Security (MOIS) is the mullahs’ main intel/spying apparatus.

“The NCRI, long calling for a full oil and arms embargo on Iran, says Tehran relies on profits from its oil and petrochemical product sales to financially fuel its terrorism and warmongering. The petrochemical branch consists of numerous companies working to provide the regime’s annual budget. The large majority of the petrochemical industry is under the control of Iranian Supreme Leader Ali Khamenei and the Revolutionary Guards (IRGC). Various petrochemical experts inside Iran are estimating that 90 percent of the petrochemical industry is controlled by Khamenei himself.

The "Setad Ejraiye Farmane Hazrate Emam" – Headquarters for Executing the Order of the Imam – is active under Khamenei’s direct supervision. From 1999 forward, [Iran] established a firm by the name of the Tadbir Economic Development Group, consisting of a large number of petrochemical companies and has control over a large portion of Iran’s petrochemical industry.

The Persian Gulf Petrochemical Company is known as Iran’s largest petrochemical complex and the most profitable. This company is in charge of providing the funding necessary to the IRGC’s financial arm, known as Fort Khatam. This is the largest IRGC financial institution.

The Persian Gulf Petrochemical Company is the largest holding company in Iran, consisting of 15 petrochemical firms. This company was launched back in 1991 under a different name and as a subsidiary of the National Iranian Petrochemical Company. According to a 2009 Majlis (parliament) resolution, the Persian Gulf Petrochemical Company, receiving shares of other petrochemical companies, became a holding firm controlling around 40 percent of the country’s petrochemical industry.

Iraq was the endpoint of a large portion of Iran’s ordered petrochemical products in 2018 while transportation documents cite Turkey or other countries. This allows Iranian regime exporters to claim exports to Iraq were in the Iranian currency, the rial, and transfer only a portion of the profits to Iran in rials, while the main profits are held in foreign banks and used to fuel Tehran’s terrorism drive.

Al-Hayat also published a list of petrochemical companies and groups active under Khamenei and the IRGC. These companies were previously unveiled by the NCRI.