July 2013

Trends and Resources

HP Impact: US targets Iran’s petrochemical industry

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 ..

Thinnes, Billy, Hydrocarbon Processing Staff

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 gover

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