23 July 2012by Mahammad Mammadov, JTW
U.S. sanctions aim to prevent any country from importing oil from Iran, or else face serious U.S opposition. In the beginning of this year, EU foreign ministers agreed to place sanctions on Iranian oil and oil products because of Iran’s non-compliance with the obligations of the Treaty on the Non-Proliferation of Nuclear Weapons. EU sanctions entered into force on July 1, 2012.
Today, Iranian petrochemical exports seem to be undamaged by Western sanctions. On the contrary, the statistics show that Iran achieved increasing the amount of petrochemicals exported to the world markets since the beginning of Iranian calendar year (starts March 20, 2012). A ten percent increase in comparison with the previous year can be seen. As one official of the National Petrochemical Company mentioned, “Iranian petrochemical products can be exported in the face of any sanctions.”
The main importers of the Iranian petrochemical products are India, China, the Middle East, and European countries.