New US sanctions won't deter Iran's petchem sales to EU - report

22 November 2011 07:11  [Source: ICIS news]

(recasts, adding dropped word "suspected" in second paragraph)

SINGAPORE (ICIS)--Fresh sanctions slapped on Iran will not stop the country from exporting petrochemicals to the EU, Reuters reported on Tuesday, quoting Iranian state-owned media organisation Mehr news agency.

On Monday, the US announced a broadening of sanctions against Iran to pressure the Tehran regime to end its suspected nuclear weapons programme.

The new sanctions include a new US boycott of foreign firms doing business with Iranian petrochemicals entities.

"The export of Iran's various petrochemical products to Europe will continue under any circumstances," Mehr quoted Iran deputy oil minister Abdolhossein Bayat as saying, according to Reuters.

The Mehr report did not give any other details.

By: Pearl Bantillo
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