BAKU, Azerbaijan, April 16. Iran has suspended
exports of petrochemical products in a move aimed at ensuring
supply to the domestic market, Trend reports.
According to information, the National Petrochemical Company
(NPC) of Iran has sent a directive to local petrochemical producers
informing them of the decision. The move follows a resolution by
the Supreme National Security Council, which emphasizes maintaining
stable prices for petroleum and petrochemical products, preventing
smuggling, and meeting the needs of domestic manufacturers
producing end products.
However, Iran’s petrochemical facilities sustained significant
damage during the period from February 28 through April 7 amid
airstrikes carried out by the United States and Israel. As a
result, production of petrochemical products could decline by more
than 70% if the affected plants are not restored. Petrochemical
products previously accounted for 25% of Iran’s non-oil
exports.
Meanwhile, as no tangible progress was made in the nuclear
negotiations between the U.S. and Iran, the situation escalated on
February 28, when the United States and Israel launched military
airstrikes against Iran. In retaliation, Iran initiated missile and
drone strikes targeting Israeli and U.S. installations in the
region. Following these developments, a two-week ceasefire
agreement was brokered on April 7 through Pakistan's mediation.
However, during subsequent talks between the U.S. and Iran in
Islamabad on April 11, no consensus was reached.
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