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  • 20-09-21

    Iran’s exports of fuel, petrochemical exports increase in recent years

    (MENAFN) According to the Daily Star reports, Iran’s exports of fuel and petrochemical exports increased in recent years as the re-imposition of the US sanctions on the country’s oil industry restricted crude sales.

    Trade sources and officials further declared that the situation has affected Iran in a good way, so if the sanctions are removed, the country will be able to expand trade in Asia and Europe rapidly.

    The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off the Islamic Republic's main source of revenues. The sanctions decreased crude exports but not sales of fuel and petrochemicals.

    According to oil ministry and central bank figures, Iran exported petrochemicals and petroleum products valued at USD20 billion in last year, double the value of its crude exports. The government also stated that they were its main source of revenues in April.
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