Iran’s Petrochemical Industry Not Affected by Sanctions: Oil Minister
TEHRAN (Tasnim) – Sanctions have been ineffective in Iran’s petrochemical industry, the oil minister said, adding that the National Petrochemical Company (NPC) managed to thwart the sanctions imposed against the petrochemical industry of the country.
Speaking in the inaugural ceremony of the 17th edition of the International Exhibition of Plastics, Rubber, Machinery & Equipment entitled “IRAN PLAST” on Sunday, Javad Owji stated that 210 foreign companies and 640 domestic firms are taking part in this exhibition, showing the neutralization of sanctions imposed by the US against the petrochemical sector of the county.
The petrochemical sector is a key and important industry in terms of yielding foreign currency, he said, adding that the country exported $16 billion worth of non-oil products overseas in 2022, half of which was related to the petrochemical sector.
Owji put the current number of petrochemical complexes in the country at 70, adding that the petrochemical sector plays a very important role in the generation of employment opportunities and also fetching foreign currency.
Most importantly, the oil minister pointed out that Iran’s petrochemical industry is non-sanctionable.
"IRAN PLAST 2023" Exhibition kicked off on Sunday, September 17 and will run until Wednesday, September 20.