June 7 (UPI) -- The U.S. Treasury on Friday announced new sanctions on Iran's largest petrochemical company and its subsidiaries over its financial support to the Islamic Revolutionary Guard Corps, which the United States labeled a terror group earlier this year.
The Treasury's Office of Foreign Assets Control targeted the Persian Gulf Petrochemical Industries Co. and its network of 39 subsidiary companies. The company represents 40 percent of Iran's petrochemical production and 50 percent of exports, the OFAC said.