Sunday, June 23, 2024

Iran says new US sanctions having no impact on petrochemical industry

The secretary general of Iran’s petrochemical industry guild union says new sanctions on the country will have no impact on its activities, although the bans could be part of a propaganda campaign and psychological warfare.

Ahmad Mahdavi said Iran will continue working as before because it’s already been under sanctions and the punitive measures did not affect Tehran’s exports.

Mahdavi noted that the exports have an upward trend.

He added that Iran does not use SWIFT for bank transactions nor does it need to open LC’s, noting that the Islamic Republic will work according to the sanctions rules.

Mahdavi also spoke about the impact of the Ukraine war on Iran’s petrochemical exports.

He said the conflict has affected the exports but the impact has not been huge.

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