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Head of Iran-Italy Chamber of Commerce:

Elimination of Iran Petchem Products from Market Impossible

Elimination of Iran Petchem Products from Market Impossible
(Saturday, November 10, 2018) 18:08

TEHRAN (NIPNA) -- The head of the Iran-Italy Joint Chamber of Commerce said: “The US and European countries know that replacing Iran’s petrochemical products in the market is not an easy thing to do.”

Speaking to NIPNA, Ahmad Pourfallah said, “Removing Iran from the global market is never feasible because it is very costly as the quantity of supply and demand for petrochemical products is clear, and it is impossible to remove Iranian petrochemical products from the global market.”

 Referring to Italy as one of the buyers of oil and petrochemicals from Iran, he added: "We have seen that Italy is among the eight countries exempted from US sanctions against Iran's oil and petrochemical industry, so it's actually seen that the United States has failed to boycott Iran's oil and petrochemicals.”

 Pourfallah, emphasizing that the world markets will continue to buy petrochemical products from Iran according to the needs of their industries, said: "The sanction reprieves for eight countries to continue buying oil from Iran is a kind of moderation in the US position, as they know that they cannot stop Iran’s export of petroleum products.”

The official said Iran had a unique capacity in the development of downstream industries, adding, “We do not say that the sanctions would not create any problems in the country's oil or petrochemical industries, but the important thing is that the Americans are isolated in the world.”

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