Wednesday, 24 July, 2019

Iran resumes petrochemical exports to Britain

For the first time in post-sanctions era, Iran sent a petrochemical consignment to the UK.

European countries accounted for about 13 percent of Iran’s trade and export of petrochemical and polymeric products before international sanctions were imposed on Iran.

In this regard, between 2 and 2.5 billion dollars of Iranian petrochemical products were sent annually to the European countries.

Accordingly, for the first time during post-sanctions era, Iran’s petrochemical exports to Britain began to put it the fourth major European country that has joined to the customers of Iranian petrochemical products, after France, Italy and Germany.

A shipment of Iran’s petrochemicals and polymer products have recently been consigned to Britain, while countries such as Bulgaria, Romania, Greece, Italy and France have been other customers of Iranian products, Mehr News reported.

Meanwhile, Deputy Director of Iran’s Petrochemical Employers Association Fariborz Karimaei told Mehr News that “regarding competitors like Saudi Arabian SABIC and Qatar to seize Iran’s lost share of petrochemical exports in Europe, it is possible to regain the share in this strategic market within 1.5 to 2 years if sanctions are fully lifted.”

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