TEHRAN, Iran, April 16 (ANI): The Iranian government has imposed a ban on the export of petrochemical products as it seeks to safeguard domestic supplies following a series of Israeli strikes on its industrial infrastructure.
According to a report by The Times of Israel, the decision was publicized by the economic newspaper Donya-e-Eqtesad, indicating a strategic shift to prioritize domestic supply and prevent shortages of raw materials.
The directive, issued by a senior official from the National Petrochemical Company overseeing downstream sectors, ordered firms to suspend exports until further notice. The move comes as Iran attempts to shield its domestic manufacturing base from the effects of recent hostilities.
The report said the primary objective of the measure is to stabilize domestic markets and ensure supply to industries affected by damage caused by recent attacks. By restricting exports, Tehran aims to prevent disruption to its internal industrial ecosystem.
The development follows targeted Israeli strikes on key energy corridors. Major petrochemical production hubs in Asaluyeh and Mahshahr were reportedly hit in recent weeks, with strikes impacting utilities that supply feedstock to petrochemical plants and disrupting production.
Compounding the situation is an escalating maritime blockade. The report said the United States military has initiated efforts to halt shipping movements at Iranian ports, aiming to curb Iran’s export revenues and increase pressure on Tehran, even as discussions continue over a possible second round of peace talks during an ongoing ceasefire.
Despite the regional tensions, Iranian authorities are attempting to maintain domestic stability. According to the Fars News Agency, prices of petrochemical and related products have been kept at pre-conflict levels despite rising global prices, in an effort to protect consumers and industries from inflation.
The economic impact of the export suspension is significant. Iran typically exports around 29 million tons of petrochemical products annually, generating approximately $13 billion in revenue, according to the report. The halt represents a substantial loss of foreign exchange as the government prioritizes domestic stability over external trade. (ANI)
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