Iran to invest €100 million in Macedonian petrochemical sector
Azerbaijan, Baku, Nov. 30 / Trend D.Khatinoglu/
Macedonia has agreed to allow the National Iranian Petrochemical Company's future €100 million investment into its petrochemical sector, the official Iranian Parliament website reported.
According to the report, National Iranian Petrochemical Company officials visited the Bunardzik Free Zone in Macedonia to finalise the contract.
Member of the Energy Commission of the Iranian Parliament Sirous Sazdar said that Iran is exporting 900, 000 barrels of oil to the Europe Union and imposing sanctions against Iran's petrochemical sector is harmful for both Iran and its European costumers. Mr Sazdar added that banning Iranian oil might result in rising oil prices to $150 per barrel.
Britain and the United States imposed new sanctions on Iran's banking system and energy sector after the International Atomic Energy Agency (IAEA) released its latest report on Tehran's nuclear programme on November 8.
On November 21, London terminated all contact between the UK's financial system and the entire Iranian banking system including the Central Bank of Iran. On the same day, Washington also announced new sanctions targeting Iran's oil and petrochemical industry and Iranian companies supplying Tehran's nuclear programme.
Following suit with Britain and the US, the French government declared that it will not buy Iran's crude oil anymore.
Paris also called for new sanctions of an 'unprecedented scale' against Iran in response to Tehran's nuclear programme, urging world powers to halt purchases of Iranian oil and freeze its Central Bank assets.
The new unilateral measures came after a failed attempt by the US and its allies to take Iran's case to the UN Security Council.