WASHINGTON — The Islamic Revolutionary Guard Corps is reported to have
failed to manage Iran's energy sector amid United Nations and Western sanctions.
Treasury
Undersecretary Stuart Levey said IRGC was forced to withdraw from South Pars
because of lack of capability, Middle East Newsline reported.
"Using the IRGC to fill its investment gap will thus only make matters
worse for Iran," Levey told the House Foreign Affairs Committee.
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In testimony on Dec. 1, the Treasury official said IRGC's Khatam Al
Anbiya was contracted to develop phases of South Pars gas field after
the withdrawal of foreign contractors. Levey said that neither Khatam
nor other Iranian entities proved capable of developing energy resources without
foreign partners.
"We believe that the speed, scope, and impact of sanctions have caught
the regime by surprise," Levey said. "There are clear signs that the Iranian
leadership is worried about the impact of these measures and is taking
sanctions seriously."
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