IRGC Contracting Arm Makes Income from Foreign Projects via Barter

“We return the currency generated from these projects to the country and we do not work for free for any country,” Abdolreza Abed stated during a press conference on Saturday.
Iran has entered into barter agreements involving oil and gas to circumvent financial and sanctions-related hurdles. Specifically, Iran has agreed to provide natural gas and electricity to Iraq in exchange for crude oil and mazut.

Additionally, Iran has negotiated a separate barter agreement with China, where it provides oil in exchange for infrastructure development projects, such as the expansion of Imam Khomeini Airport in Tehran.

Founded during the 1980-88 Iran-Iraq War, Khatam al-Anbiya Construction Headquarters has grown to become one of Iran’s most significant industrial and development contractors, showing the intricate ties between the military and political arms of the regime.

The organization has expanded into diverse fields such as mechanical engineering, energy, mining, and defense.

Abed also claimed that a major project in Sri Lanka was inaugurated three weeks ago.

“The president of Sri Lanka recognized the Islamic Republic as a significant contributor to their development during this period,” Abed said.

Abedi’s comments follow significant financial expenditures and a lack of transparency regarding the organization's operations in Syria.

Reports suggest that Syria, where Iran has invested heavily in support of President Bashar al-Assad, owes Tehran more than $30 billion, while its own economy is in crisis.

With Iran holding a relatively small share of Syria’s trade and facing severe economic pressures at home, the likelihood of recovering these funds appears uncertain.