The Islamic Revolutionary Guard Corps (IRGC) is attempting to take control of Khuzestan Steel Mill Company, the biggest producer of steel bars and second-largest producer of un-milled steel in Iran. The IRGC already oversees the company's management and operations and owns 49 percent of its shares, but IRGC officials developed a plan to "illegally acquire" the remaining shares, according to a confidential letter. The IRGC had managed its shares in Khuzestan Steel through Yas Holding Company, which itself operated under the IRGC Cooperative Foundation. After the 2018 dissolution of Yas Holding in the aftermath of several financial scandals, however, the IRGC continued to exercise control of the shares in Khuzestan Steel and sought to increase its holding. Reports suggest that the IRGC will transfer some of Yas Holding's other assets to the office of Iranian Supreme Leader Ali Khamanei.