TEHRAN August 28 (Shana)--A senior Iranian petrochemical official said the country's petrochemical exports have risen some 4% during the first 4 month of the current calendar which began on March 2014 despite western sanctions.
�Speaking with the Bloomberg in his office here in Tehran, Mohammad-Hasan Peyvandi, Vice President of Iran�s National Petrochemical Company, said, "[Exporting Petrochemical] has gotten better. In the past three to four months, we�ve had between 4 to 6 percent� increases in production and exports.


However, he said, the short window for sanctions relief -- initially meant to last only six months before last month being extended another four to November -- has made it harder to benefit from eased restrictions on chemical sales and banking.�

The official added that the western sanctions still restrict Iran�s petrochemical exports even as some sales embargoes are suspended on the products as a result of Iran's heated negotiations with world powers over Tehran's disputed nuclear program.

Transferring payments for sales and securing insurance for exports remain the biggest hindrances for petrochemical producers, Mohammad-Hasan Peyvandi further said.

By SHANA

 

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