28 August 2014 - 15:21
  • News Code: 223676
Iran's 4-Month Petchem Sales Rise Despite Sanctions

TEHRAN August 28 (Shana)--A senior Iranian petrochemical official said the country's petrochemical exports have risen some 4% during the first 4 month of the current calendar which began on March 2014 despite western sanctions.

Speaking with the Bloomberg in his office here in Tehran, Mohammad-Hasan Peyvandi, Vice President of Iran’s National Petrochemical Company, said, "[Exporting Petrochemical] has gotten better. In the past three to four months, we’ve had between 4 to 6 percent” increases in production and exports.
However, he said, the short window for sanctions relief -- initially meant to last only six months before last month being extended another four to November -- has made it harder to benefit from eased restrictions on chemical sales and banking. 
The official added that the western sanctions still restrict Iran’s petrochemical exports even as some sales embargoes are suspended on the products as a result of Iran's heated negotiations with world powers over Tehran's disputed nuclear program.
Transferring payments for sales and securing insurance for exports remain the biggest hindrances for petrochemical producers, Mohammad-Hasan Peyvandi further said. 
News Code 223676

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