Official: Reports untrue of halt of Iranian petrochemical exports to Europe

Iran Materials 6 August 2012 18:07 (UTC +04:00)

Azerbaijan, Baku, August 6/ Trend M. Moezzi

The reports that Iran's petrochemical exports to the EU have reached a halt are wrong and there are many countries ready to invest in the country, the head of the company says.Abdol Hossein Bayat, the managing director of the National Petrochemical Company (NPC), told the Iranian Students News Agency (ISNA) that Iran exports its petrochemical products on a large scale while European countries' small size means they aren't a big market.

Assuming the reports are correct, which is impossible, Bayat said, there are many customers eager to buy Iranian petrochemical products.

Iran is first focused on doing business with countries that have populations of a billion people and then on those nations that have a population in the millions.

Bayat said international sanctions have posed no problems for the republic's exports. Many nations, like Afghanistan and Pakistan, have asked to invest in Iran's petrochemical industry.
Iran is in a standoff with the West over its nuclear programme which it says is for peaceful, civilian purposes. The West is worried that the programme is military in nature and wants Iran to be more transparent about its nuclear activities.

To pressure Iran, the U.S. and its allies have levied heavy sanctions against its oil industry and Central Bank. Starting July 1, the European Union began implementing its oil and insurance sanctions against the Islamic Republic. The sanctions mean tankers carrying
Iran's oil, petrochemical products and equipment cannot be insured by European insurance companies. Western companies are strongly discouraged or outright prohibited from doing business with Iran.