Iran Petchem Industry Unsanctionable: MP

(Monday, May 6, 2019) 14:35

TEHRAN (NIPNA) -- A member of the Iranian parliament underlined the diversity of the items produced by Iranian petrochemical plants, adding that the US could not target the sector by sanctions.

Speaking to NIPNA, Shahab Naderi, who is a member of the parliament’s economy committee, said that the US, following his successive failures before the Islamic Republic of Iran still stuck to its hostile policies towards the country and had imposed sanctions against the Iranian nation.

“The Americans may be able to exert pressure on governments not to buy Iranian petrochemical products, but because of the diversity of the items produced by Iranian petrochemical plants, they are unsanctionable,” the MP said.

Iran generates 17.1 million dollars in petrochemical revenues annually of which $12.1b are in hard currency generated by exporting items and nearly $5b are generated by supplying the items on the domestic markets.

Iranian petrochemical plants export cargoes to 30 destinations in Europe or Asia, and the technical knowhow for production of most of the catalysts used in the sector have been developed domestically by Iranian research centers and universities.


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National Petrochemical Company