US SANCTIONS IRAN'S LARGEST PETROCHEMICAL HOLDING COMPANY

The US Treasury Office of Foreign Asset Control (OFAC) has sanctioned the Persian Gulf Petrochemcial Industries Company, also known as PGPIC. The stated reason was that PGPIC provides financial support to the engineering component of the Islamic Revolutionary Guard Corps. In addition to PGPIC, thrity-nine of its subsidiaries and agents have also been designated.

The names of the subsidiaries can be located here.