Jan 2, 2016, 12:22 PM
News Code: 81903121
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Official: Sanctions on petrochemical products lifted

Tehran, Jan 2, IRNA – A senior official from petrochemical industry said here on Saturday that sanctions imposed on the industry by foreign countries have been totally removed.

Managing Director of Petrochemical Commercial Company Mehdi Sharifi Niknafs told IRNA that for the first time in the past five years, the company managed to get its money for export of petrochemical goods via a European bank.

He said this became possible thanks to an agreement Iran signed with a Spanish bank.

During years of sanctions, the official noted, the export of petrochemical items and receiving the money gained through merchandizing petrochemical products was banned that caused a halt in export of such goods to European countries.

He said that after a long and time-consuming procedure which took about five years, the money for Iranian petrochemical exports was delivered to a bank account the company has in a European country.