The United States is hitting Iran with new sanctions. targeted petrochemicals

The Trump administration hit Iran on Friday with new sanctions targeting its largest petrochemical company for its support to the Revolutionary Guards Corps.

The Treasury Department has imposed sanctions on Persian Gulf Petrochemical Industries Company and 39 of its subsidiaries and sales agents abroad. The company holds 40% of Iran's petrochemical production capacity and is responsible for 50% of the country's petrochemical exports. He said the sanctions stemmed from the fact that the company had made billions of dollars with the guardhouse.

The administration designated the army corps as a "foreign terrorist organization" last month, for the first time in its life for a foreign government agency. This means that the United States may impose sanctions on any business or individual that provides material assistance to a designated entity.

"By targeting this network, we intend to deny any funding to key elements of the Iranian petrochemical sector that would provide support to the IRGC," said Treasury Secretary Steven Mnuchin in a statement. "This action is a warning that we will continue to target holding groups and companies in the petrochemical industry and elsewhere that provide financial resources to the MAF."

Friday's sanctions are part of the administration's "maximum pressure" campaign against Iran and freeze all assets of the targeted companies in US jurisdictions and prevent Americans from doing business with them. This effort has gained momentum in recent weeks with the re-imposition of sanctions aimed at bringing back lucrative revenue from Iran's oil exports to zero following President Donald Trump's decision to withdraw the United States from the United States. # 39; historic agreement concluded in 2015 with Iran in the nuclear field.

"The maximum of pressure on the Iranian regime continues today," said US Secretary of State Mike Pompeo, adding that the United States would continue to act to "deprive the regime of necessary funds for the destabilization of the Middle East ".

At the same time, in a letter to the United Nations made public, Iran complained that the re-imposition of US sanctions is a violation not only of the nuclear deal, but also the United Nations Security Council resolution that dedicated it.

"The unilateral nuclear and economic sanctions imposed by the United States in defiance of Security Council Resolution 2231 and the Comprehensive Plan of Action have reached an unprecedented level in recent months," he said. 39, Iran's ambassador to the United Nations in the letter. was dated May 23rd.

"The United States will bear full responsibility for the consequences of these unlawful acts," said Ambassador Majid Takht Ravanchi. "The international community must assume its responsibilities under the United Nations Charter and consider and react proportionately to the unlawful conduct of the United States that has endangered international peace and security."