OFAC designates Iran petrochemical company and subsidiaries

OFAC has imposed asset freezing measures on Persian Gulf Petrochemical Industries Company (PGPIC), and 39 of its subsidiaries and foreign-based sales agents, including UK-based NPC International, pursuant to Executive Order 13382. PGPIC is Iran’s largest petrochemical holding group; it is responsible for 40% of Iran’s petrochemical production and 50% of its total petrochemical exports.  See OFAC Notice for the full...