U.S.-Iran Deal Outlines Oil Waivers, $300 Billion Fund; Guard to Receive Share

Emerging outlines of a deal between Washington and Tehran include waivers on sanctioned oil sales and potential access to a $300 billion reconstruction fund. Four senior Iranian sources said the Islamic Revolutionary Guard Corps stands to capture a large share of any resulting financial gains.

The Guard built a commercial network spanning oil, construction, shipping, telecommunications and ports while operating under sanctions.

Its engineering arm, Khatam al-Anbia, oversees hundreds of affiliated companies in infrastructure, energy, car making, tourism and logistics, according to official statements and public records. Since the war began on Feb. 28 with strikes that killed Iran's late supreme leader, Ayatollah Ali Khamenei, the Guard has expanded its domestic power.

It helped install his son Mojtaba Khamenei as the new supreme leader and has signaled support for the interim deal. One senior source described the Guard as the real winner of the war, noting that it secured the survival of Iran's Islamic system and ran most sanctions-busting operations in recent decades. A spokesperson for the Guard declined to comment.

The Guard's central role in the economy may complicate efforts to lift sanctions. Its terrorism designation could limit how much foreign investment reaches other sectors, the sources said. The White House did not immediately respond to a request for comment.

Iranian investment law requires foreign firms to partner with local entities, many of which are tied to the Guard.