Episode Details

Is the Iranian state effectively in receivership? As the 2026 conflict intensifies and the IRGC maintains its "toll booth" blockade on the Strait of Hormuz, the question of who actually holds the economic lever has never been more critical. Is President Pezeshkian’s administration a mere figurehead for the economy?

In this episode, renowned strategist Bijan Khajehpour joins Majlis & Markets for an institutional autopsy of the Iranian state. We move past the headlines to deconstruct the "Emboldened" strategy of the IRGC, the resilience of the banking sector under total sanctions, and the brutal geoeconomics of survival in 2026.

In this episode, we reveal:

• The $120B Demand: Why the release of frozen assets is the non-negotiable price for reopening the Strait.
• State vs. Shadow State: The internal deadlock between the formal government and the military council.
• Banking in Conflict: How Iran’s financial structures have pivoted to survive a total 2026 blockade.
• The "Toll Booth" Economy: How the IRGC funds the war effort through shadow maritime revenues.
• Geoeconomic Leverage: Why Tehran believes it holds the ultimate upper hand in the global energy war.

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🎓 About the Guest

Bijan Khajehpour is a leading authority on Iran’s geoeconomics and state structures.

• 📰 Analysis: Amwaj Media [https://amwaj.media/en/author/21066201]
• 🐦 X (Twitter): @BijanKK