Abstract
The objective of this study is to understand the shift in the nuclear policy of the Islamic Republic Revolutionary Guards (IRGC). As a military organization considered to be the steward of the nuclear programme, the Revolutionary Guards turned into spoilers on the few occasions when the pragmatists in Iran tried to negotiate a deal with the international community. In a surprising shift, the Guards’ nuclear policy changed and supported nuclear negotiations and the nuclear agreement. It is assumed that the IRGC is more interested in its economic ventures than in promoting the nuclear project. To test the hypothesis, the present study is designed to provide a rigorous empirical examination of the economic impact of the sanctions on the Revolutionary Guards.
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