A $15 million reward for disrupting funding to the Iranian Revolutionary Guard

In a new escalation of its strategy to pressure Tehran, the US State Department announced a substantial reward of up to $15 million through its “Rewards for Justice” program. This reward targets anyone who provides information leading to the disruption and dismantling of the financial networks of Iran’s Islamic Revolutionary Guard Corps (IRGC), which Washington designates as a foreign terrorist organization.

This announcement comes amid ongoing US efforts to restrict Iran's ability to finance activities that Washington considers destabilizing in the Middle East and globally. The US State Department confirmed that the recent sanctions imposed by the Treasury Department on a vast network involved in selling and shipping Iranian oil on behalf of the Islamic Revolutionary Guard Corps (IRGC) and its Quds Force are aimed at cutting off the illicit funding sources upon which the Iranian regime relies.

Background of the conflict and economic pressure

This move is the latest chapter in the decades-long “maximum pressure” campaign the United States has pursued against Iran, a campaign that intensified after Washington’s April 2019 decision to designate the Iranian Revolutionary Guard Corps (IRGC) as a terrorist organization—the first time a part of a sovereign state’s military had been placed on such a list. The IRGC relies heavily on oil revenues, which are sold through complex and clandestine networks to circumvent international sanctions. These funds are used to finance weapons programs, including ballistic missiles and drones, as well as to support militias and proxy groups in countries such as Iraq, Syria, Lebanon, and Yemen.

The importance of the step and its expected impact

The significance of this reward lies in the fact that it targets not only entities and companies, but also seeks to penetrate these networks from within by encouraging informed individuals to provide vital information. This move is expected to have multiple effects:

• On a regional level: The measure aims to weaken Iran’s ability to support its proxies in the region, which could change the balance of power in conflict zones and limit its regional influence.
• On the international level: These measures increase Iran's financial isolation and make dealing with it more risky for companies and individuals around the world, further tightening the noose on its already ailing economy.
• On the Iranian domestic front: Drying up the sources of funding for the Revolutionary Guard represents a direct blow to one of the most important pillars of the regime, which has broad economic and military influence within the country.

The US Treasury Department confirmed that it imposed new sanctions on three senior Iranian officials and nine companies linked to Iran, involved in coordinating illicit oil sales deals, stressing that it will continue to pursue all financing networks and deprive the Iranian regime of revenues that it uses to finance terrorism and destabilization.