(Radio Farda) The U.S. Treasury Department on Friday announced sanctions against Iran's Persian Gulf Petrochemical Industries Company (PGPIC) that accounts for 40% of Iran's petrochemical-production capacity and 50% of its petrochemical exports. The Treasury said PGPIC was providing financial support for a company controlled by the Islamic Revolutionary Guards Corps (IRGC), which was previously designated a "foreign terrorist organization." The petroleum and petrochemical industries "have been serving for the last 40 years as a kind of institutionalized slush fund for the IRGC," a senior U.S. official said.
2019-06-11 00:00:00Full ArticleBACK Visit the Daily Alert Archive