Iran's petrochem exports "unaffected" despite sanctions
"Since the beginning of new Iranian calendar year (started on March 19) and despite escalation of [Western] sanctions, the volume of Iran's petrochemical and polymer exports has not deceased, but has also increased," Abdolhossein Bayat told Mehr News Agency on Saturday.
EU foreign ministers approved sanctions against Iran's oil and financial sectors on January 23 with the aim of banning the import of Iranian oil and oil products by member states and transactions with the Iranian central bank.
The EU measure followed a US decision on New Year Eve to impose new sanctions on Iran telling other countries to either refrain from importing Iranian oil, or brace for Washington's punishments.
The US-led EU sanctions entered into force respectively on June 28 and July 1, 2012.
The official, who is also managing director of the National Petrochemical Company (NPC), stated that Iran's petrochemical exports to European countries continue unaltered because "Iranian petrochemical products can be exported in the face of any sanctions."
Bayat stated that Iran has presold some petrochemical products via long-term contracts with some foreign companies and has no concern about exporting such products.
The latest figures released by the NPC show that Iran's petrochemical exports have increased 10 and 29 percent in terms of weight and value respectively since the beginning of the current Iranian calendar year (started March 20, 2012) compared to the corresponding period last year.
The country's petrochemical production has also increased 10 percent during the same months compared to one year ago. Last year, Iran exported 18.2 million tons of petrochemical and polymer products worth about USD 14.2 billion to more than 60 countries.
China, India, Middle East, Far East, Southeast Asia and European countries constituted major destinations of Iran's petrochemical exports.