IRAN
 
Iran: US Targets Petchem Firms
 
The US Treasury Department’s 31 May intensification Iran sanctions includes an extension to include Iranian petrochems firms. The department says that as Iran’s oil revenues continue to fall due to international sanctions, Tehran has increasingly turned to other industries to make up.
 
“One of these sectors is the petrochemical industry, which is now the second largest source of revenue for the Iranian...