U.S. President Donald Trump antagonized Iran, and dismayed key U.S. allies, when he past year pulled out of a 2015 agreement between Iran and world powers under which Tehran curbed its nuclear program in return for easing some sanctions.
Washington placed sanctions on Iran's largest petrochemical holding group on Friday for indirectly supporting the Islamic Revolutionary Guard Corps (IRGC), which the White House branded a "terrorist organisation" in April.
The sanctions prohibit the firm and its subsidiaries from accessing the U.S. market or financial system, including through other foreign companies, and blocks all funds or property that is in the United States or held by a USA firm. The company accounts for 40 percent of Iran's petrochemical-production capacity and 50 percent of its petrochemical exports.
In addition to imposing sanctions on the Persian Gulf Petrochemicals, the US Treasury Department said on Friday that 39 of the company's subsidiaries and foreign-based sales agents will also be subjected to sanctions.More news: Lego Star Wars: The Skywalker Saga Covers Nine Movies In One Game
Meanwhile, Iran in a letter to the United Countries made public on Friday, complained that the re-imposition of US sanctions violates no longer stunning the nuclear deal but additionally the U.N. Security Council resolution that enshrined it.
It took only one week for the emptiness of USA president's claims for talks with Iran be surfaced, Mousavi said, stressing that the US' policy of maximum pressure is a failed one.
"By focusing on this community we intend to disclaim funding to key aspects of Iran's petrochemical sector that offer reinforce to the IRGC", Treasury Secretary Steven Mnuchin mentioned in an announcement.
The OFAC said the company financially supports the Khatam al-Anbiya Construction Headquarters, the engineering arm of the IRGC.More news: Trump and Macron's figurative tree of friendship has withered and died
The Trump administration went on to pursue a number of efforts meant to scuttle the agreement, including the reimposition of United States sanctions on Iranian oil, which went into full effect last month.
Washington is pressuring Iran over its nuclear and ballistic missile program and for waging proxy wars in other Middle Eastern countries.
In 2018, the Trump administration withdrew from a 2015 deal between Tehran and leading global powers that imposed restrictions on its nuclear program in exchange for sanctions relief.
Meanwhile, Iran in a letter to the United Nations made public on Friday, complained that the re-imposition of US sanctions violates not just the nuclear deal but also the U.N. Security Council resolution that enshrined it.More news: UK's Brexit Party Narrowly Defeated in Key Electoral Test
"Since we've been operating in the region, we've had several interactions with Iranians", he said.