An Iranian official announced April 13 that the country’s total exports of petrochemical products during the last fiscal year stood at 20 million tons, worth $10.645 billion. Iran’s fiscal year ended March 20.
Taghi Sanei, the head of Nouri Petrochemical Company -- majority owned by government-- didn’t mention whether U.S. sanctions affected this sector or not, but according to official statistics, released by state-run National Iranian Petrochemical Company (NIPC), the country exported 22.4 million tons of petrochemical products worth more than $12 billion during the previous Iranian year (March 21 2017-March 20, 2018).
Therefore, Iran’s petrochemical exports declined by 10.7% in volume and 13% in value during 2018-2019 when the Trump administration reimposed economic sanctions on Tehran..
The United States withdrew from the 2015 nuclear agreement with Iran last May and imposed financial, industrial and oil-related sanctions in the second half of 2018.
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