‘Sanctions will not stop progress of Iran petchem industry’

File photo shows a petrochemical plant in southern Iran.

Iranian Deputy Oil Minister Abdolhossein Bayat says illegal Western sanctions will not stop the progress of Iran’s booming petrochemical industry.

“Iran’s petrochemical industry is rapidly progressing and illegal sanctions will not stop the process of this industry’s … development and progress,” The director of the National Iranian Petrochemical Organization (NIPO) said Saturday.

“Iran’s petrochemical products are exported to five continents and demand for our country’s petrochemical production is increasing due to [their] quality and variety,” Bayat added.
The Iranian official said last year Iran exported 16 million tons of petrochemical products worth 12 billion dollars.

The US Treasury Department issued a statement on Friday, announcing sanctions against eight Iranian petrochemical companies including Bou Ali Sina, Mobin, Nouri, Pars, Shahid Tondgouyan, Shazand, Tabriz and Imam.

At the beginning of 2012, the US and the European Union imposed new sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.

The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran rejects allegations, arguing that as a committed signatory to the Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.

In addition, the IAEA has conducted numerous inspections of Iran’s nuclear facilities but has never found any evidence showing that Iran’s civilian nuclear program has been diverted to nuclear weapons production.

By Press TV


The Iran Project is not responsible for the content of quoted articles.