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US targets Iran’s petrochemical industry

07.01.2013  |  Thinnes, Billy,  Hydrocarbon Processing Staff, Houston, TX

Keywords: [Iran] [sanctions] [diplomacy] [intrigue] [petrochemical] [companies] [revenue stream] [bad actors] [airlines]

The US Treasury Department, acting in concert with the US Department of State, recently took action to target Iran’s petrochemical industry (Fig. 2). As Iran’s oil revenues continue to fall due to international sanctions, the Iranian government has increasingly turned to other industries to make up for lost profits. One of these sectors is the petrochemical industry, which is now the second largest source of revenue for the Iranian government. The US government is targeting this revenue stream by both designating companies involved in transactions with the sector and identifying several petrochemical companies as subject to sanctions because they are controlled by the Iranian government.

 

  Fig. 2. Iranian petrochemical companies
  are facing additional scrutiny from the US government. 




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