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Media: Banking issues hinder Iran’s petchem exports to Europe

by ChemOrbis Editorial Team -
  • 15/08/2016 (13:51)
According to media reports, banking issues are still hindering Iran’s polymer and petrochemical exports to Europe. Officials report that banking issues have not been fully resolved despite the eight-month period since the removal of sanctions.

Fariborz Karimaei, Deputy Head of Iran’s Association of Petrochemical Industry Corporation commented that Iran’s rivals like Saudi Arabia have taken the country’s market share in Europe due to banking issues, although ship supply problems and insurance issues for export cargos have almost been resolved. He also added that Iran has the capacity to significantly increase its petrochemical exports to Europe as soon as banking issues have been fully removed.
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