TPO partially lifts bans on petchem exports
The Trade Promotion Organization (TPO) of Iran authorized limited exports of petrochemical products about a month after a sweeping ban was imposed to prevent domestic shortages following US-Israeli strikes on key infrastructure, according to a report by Tasnim on Monday.
The media outlet published a TPO letter to the export office of the Islamic Republic of Iran Customs Administration (IRICA), that read “authorized units” could resume exports of some petrochemical products up to a “specified tonnage ceiling.”
The directive did not specify which products could be exported or the volume permitted.
Iran issued an order in mid-April that banned all exports “until further notice” to prioritize domestic demand after attacks earlier that month on two main petrochemical hubs in Mahshahr in the southwestern province of Khuzestan and Asaluyeh in the southern province of Bushehr.
Days later, the Ministry of Industry, Mine and Trade said it was even considering importing petrochemicals to secure feedstock supplies for downstream industries.
The air strikes disrupted part of an industry that remains one of Iran’s main sources of foreign currency revenue.
Iran earned $15.6 billion from petrochemical exports last year after shipping 37.7 million tons of products abroad.
It remains unclear how much of Iran’s nominal annual production capacity of 100 million tones has been affected due to the US-Israeli aggression.