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Iran aims to increase petrochemical exports to Russia

by ChemOrbis Editorial Team -
  • 23/12/2015 (11:25)
According to media reports, Iran is looking to expand its petrochemical exports to Europe, with some sources commenting that Iranian sellers believe that they will be able sell more profitably to Russia than to Europe. Iranian and Russian officials are negotiating contracts for the anticipated post-sanctions era.

Vadim Konakov, President and CEO of Russian-Italian joint venture SINIKON, said that Russia would need to expand its petrochemical imports from Iran to satisfy the country’s 20-year development goals, which call for substantial investments in infrastructure.

Iran plans to attract foreign direct investments worth of $70 billion in its petrochemical sector by 2025, with South Korean, Japanese and some European companies already signaling interest.
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