Iran reacts to new U.S. sanctions on its petrochemical industry
Azerbaijan, Baku, Jun.1/ Trend F.Karimov/
The National Iranian Petrochemical Company has reacted to the new U.S. sanctions on Iran's petrochemical industry, saying that despite the intensified sanctions the country has been continuing its petrochemical exports, the Mehr News Agency reported.
The petrochemical industry has been facing with the sanctions for a couple of years. Although the sanctions have been intensified, the exports of petrochemical products have not been halted, Bayat said.
Certainly, the new sanctions will not be effective on the development of Iran's petrochemical industry, he added.
Despite the sanctions, Iranian petrochemical products are being exported even to European countries, Bayat stressed.
The United States blacklisted on Friday eight companies in Iran's petrochemical industry as Washington strives to force Tehran retreat from its nuclear ambitions.
Petrochemical companies owned or controlled by the Iranian government that are on the Treasury Department list include Bandar Imam Petrochemical Co, Bou Ali Sina Petrochemical Co and Mobin Petrochemical Co.
On May 8, Bayat said since the past eight years, the country's annual petrochemical output has been increased by 38 million tons, he added.
The output will surpass 75 million tons by the end of the current Iranian calendar year (March 2014), he noted.
Iran exported some $12 billion worth of petrochemical products in the past Iranian calendar year, he added.
Last year, petrochemical products were exported to around 60 countries of the world, he said.
The Far East, Central Asia, Southeast Asia and Africa were the main destinations of the Iranian products.