US sanctions global network backing Iran’s petrochemical and petroleum sectors

The United States on Thursday sanctioned several companies and senior executives allegedly part of the international network supporting Iran’s petrochemical and petroleum industries. The four international petrochemical and petroleum companies have collectively transferred the equivalent of hundreds of millions of dollars’ worth of exports from the National Iranian Oil Company, an entity instrumental in Iran’s petroleum and petrochemical industries, which helps to finance Iran’s Islamic Revolutionary Guard Corps’ Quds Force and its terrorist proxies, said the U.S. Treasury Department in a statement. “Iran’s petrochemical and petroleum sectors are primary sources of funding for the Iranian regime’s global terrorist activities and enable its persistent use of violence against its own people,” said U.S. Treasury Secretary Steven Mnuchin.