Iran stops exporting petrochemicals until further notice, report says

Iran has stopped exporting petrochemicals until further notice due to the impact of the U.S. and Israeli war with the country, according to a report in a widely circulated Iranian economic newspaper not directly linked with the Islamic Republic regime. 

The Donya-e-Eqtesad newspaper cited an order issued by Iran's Director of Development of Petrochemical Industries, Mohammad Motaghi, on April 13, in which he told the managing directors of Iranian petrochemical companies of the halt to all exports due to the country being "in a war situation and … subjected to severe sanctions."

"In order to prevent shortages in the domestic market and to meet internal demand — especially in downstream industries — it is essential that [petrochemical] exports be halted or managed in a way that ensures adequate domestic supply," the paper cited Motaghi as saying. The order has not been reported by Iran's official state-run news outlets or confirmed publicly by the government.

According to the Iranian news agency Fars, which is closely linked with its powerful Islamic Revolutionary Guard, Iran typically exports around $13 billion worth of petrochemical products every year. The Reuters news agency says production hubs in Mahshahr and Asaluyeh were targeted by Israeli strikes in recent weeks.

Petrochemicals include a wide range of non-fuel products derived from oil that are essential to the production of plastics, electronics, fertilizers, medicines and many other items.

The U.S. began enforcing a maritime blockade of shipments to and from Iranian ports this week which the Trump administration is aimed, in part, at stifling Iran's export revenues as diplomats push for another round of talks to end the war.