Iran Petrochem Sector Will Persevere

The Persian Gulf Petrochemical Industries Company will continue its functions despite the new US sanctions on the petrochemical sector.
Jafar Rabiei, managing director of PGPIC made the statement on Saturday in response to the new restrictions the Trump administration announced against Iran's main petrochemical company.
The US Treasury Department announced new sanctions on Iran's petrochemical sector on Friday that would apply to PGPIC and 39 of its 60 subsidiaries and foreign sales agents. 
According to Rabiei, PGPIC accounts for 37% of the total national petrochemical production, which is close to 60 million tons per year.