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Iran Orders Armed Forces to Sell All Energy, Business Assets

  • Divestment by state entities needed to rescue economy: Rouhani
  • Iran struggles to draw investors; Trump warns of new sanctions
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Iran’s armed forces, some of which are under U.S. sanctions, must divest from energy assets and other businesses to help save the Persian Gulf nation’s economy, President Hassan Rouhani said.

Armed forces, together with the largest state pension fund and other branches of the government, must withdraw from all their commercial holdings, Rouhani said Tuesday at a news conference in Tehran. Armed forces in Iran include the U.S.-sanctioned Revolutionary Guards Corps, a powerful military organization that controls a wide range of local companies.