September 30, 2022

Iran Eyes Petrochemical Expansion amid Russian Price War and US Sanctions

Featuring Rachel Ziemba

Source: Middle East Eye

Journalist Sean Mathews

Refined polymers and compounds are found in everything from fertilisers and plastics to laundry detergents, paper and clothing. While many people may not be as familiar with petrochemicals as the oil and gas from which they are derived, for the Islamic Republic they are crucial.

"Petrochemicals have been a major source of revenues and non-oil exports for Iran," Rachel Ziemba, a sanctions expert at the Center for a New American Security, told Middle East Eye.

In July, Iran said it would increase petrochemical production by 54 percent over the next four years. The industry already accounts for one-third of Iran's non-oil exports. In 2020, Iran sold about $20bn worth of petrochemicals, twice the value of its crude exports.

Read the full story and more from Middle East Eye.

Authors

  • Rachel Ziemba

    Adjunct Senior Fellow, Energy, Economics, & Security Program

    Rachel Ziemba is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). Her research focuses on the interlinkages between economics, finance and security i...