US hits Iran with new sanctions; petrochemicals targeted –

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US hits Iran with new sanctions; petrochemicals targeted –

The Trump administration on Friday hit Iran with new sanctions that target its largest petrochemical company for providing support to the Revolutionary Guard Corps. The Treasury Department imposed sanctions on the Persian Gulf Petrochemical Industries Company and 39 of its subsidiaries and foreign sales agents. It said the company holds 40% of Iran’s petrochemical production capacity and is responsible for 50% of the country’s petrochemical exports.

– June 7, 2019 at 11:51AM

John Jason Fallows

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