NIPO downplays new US sanctions

The National Iranian Petrochemical Organization (NIPO) says sanctions imposed by the US against Iran will have no impact on the sale of petrochemicals to Europe.

NIPO Managing Director Abdolhossein Bayat said on Tuesday that having received a new permit from the European Union, there will be no halt in Tehran’s exports to Europe.

Bayat’s remarks come as some media outlets reported that the US plans to impose sanctions against Iran’s petrochemical industry in order to increase pressure on Tehran.

“The US has imposed new sanctions against Iran’s petrochemicals industry since last year,” Mehr News Agency quoted Bayat as saying.

He said the sanctions barred Iran’s purchase of catalysts and other strategic chemicals, and thus Iranian firms were not able to buy such commodities on international markets.

The deputy oil minister said Iran had, nevertheless, succeeded in obtaining its required products and equipment, including the necessary chemicals, through various strategies to “circumvent” the US and European sanctions.

Bayat highlighted the difficulties the Iranian petrochemical industry has been facing over the past three decades, and said Iran has always managed to make progress despite restrictions.

“Definitely, US sanctions will have no impact on the sales and export of Iranian petrochemical products in European markets,” he emphasized.

Since early 2011, nearly 30 Iranian petrochemical and polymer products have been registered on the EU list, which will ensure Europe’s 11-percent share in the country’s petrochemical sector until 2013.

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