PGPIC hit with economic penalties because of its ties to Revolutionary Guards, US treasury says
The United States has hit Iran’s petrochemical group PGPIC with economic sanctions due to its ties with the country’s Revolutionary Guards (IRGC), the Treasury department has said.
The move aims to choke off financing to the country’s largest and most profitable petrochemical group and extends to its 39 subsidiaries and “foreign-based sales agents,” Treasury said in a statement.
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