US sanctions target Iran's petrochemicals sector

The United States on Friday imposed sanctions on Iran's biggest petrochemical group because of its financial support to the Revolutionary Guard, which is destabilizing the Middle East.

The US Treasury Department said in a statement that Washington imposed new sanctions targeting the Iranian petrochemical sector, including the largest holding petrochemical group in the country, for financial support to the Iranian Revolutionary Guards.

The measure "aims to reduce funding for Iran's largest and most lucrative petrochemical company, including 39 branches and dealers abroad," it said.

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