Rouhani orders Armed Forces to Sell all Business Assets

By John Lee.

Bloomberg quotes President Rouhani as saying that Iran’s armed forces, the largest state pension fund, and other branches of the government, must withdraw from all their commercial holdings to help save the economy.

Rouhani said:

“Not only the Social Security Organization but all government sectors, including banks, have to divest their business holdings, and this is the only way to rescue the country’s economy … Government officials, non-government institutions and the armed forces and others — everyone has to divest their commercial businesses.”

The armed forces include the Islamic Revolutionary Guards Corps (IRGC), which controls a wide range of local companies and is subject to US sanctions.

More from Bloomberg here.

(Source: Bloomberg)

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