U.S. Sanctions Iran's Biggest Chemical Firm Over Military Ties

The Trump administration announced sanctions against Iran’s largest petrochemical company on Friday as part of an effort to choke off resources to the Islamic Revolutionary Guard Corps, an elite wing of the country’s military that the U.S. named a terrorist organization earlier this year.

Treasury’s Office of Foreign Assets Control sanctioned Persian Gulf Petrochemicals Industries Company over its ties to Khatam al-Anbiya, an arm of the IRGC, the department said in a statement on Friday. The company has awarded engineering, procurement and construction contracts to Khatam al-Anbiya, creating hundreds of millions of dollars in revenue for the IRGC, according to Treasury.