Tuesday, January 28, 2014

U.S. Lifts Sanctions against Iran Petrochemical Companies

The U.S. Office of Foreign Asset Control (OFAC) on Monday lifted sanctions against 14 Iranian petrochemical companies as the first step of easing sanctions under the 24 November Geneva agreement.

The petrochemical companies are: Bu Ali Sina, Nouri, Shahid Tondgouyan, Bandar Imam, Mobin, Pars, Shazand, Tabriz, Qaed Basir, Poulinar, Ariya Sasoul, Saderat-e Assalouyeh, Marjan and Jam.

The companies can now start selling their products globally and receive foreign currencies for goods sold through normal banking channels.

The development is particularly important for the country’s petrochemical industry. Unlike increasing crude oil production to pre-sanctions levels, the petrochemical plants can be restarted almost immediately without any major investments. But they need to produce products that could be easily marketed and transported globally.

File photo: Petrochemical plants in Assalouyeh on the shores of the Persian Gulf. (IRNA)


Anonymous said...

This regime can't be trusted to act like a human being. They will continue in their path of self destruction.

Anonymous said...

The last one did not do as great as everybody expected them to. The next one will have the same problem. Stay where you are that way you don't have to deal with them, or go back fix it with like minded. Better than most, never prefect. No entity or government can ever be good enough for Iranian. That is why we excel faster than most given the opportunity. However, we never stop complaining(bitching).

B.M.A said...

THE sanctions will have to be thrown away.The Donkey [US]can't carry the burden for ever!.

Anonymous said...

you really have a propensity for ignorant claims. the US can carry the sanctions far longer than Iran's regime can afford to have them in place.