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(ICIS) -- The US said on Monday that it
was broadening sanctions against Iran to pressure the Tehran regime to end its
suspected nuclear weapons programme, including a new US boycott of foreign firms
doing business with Iranian petrochemicals entities. Under the sanctions
announced by the White House and State Department, non-US firms that do business
with the Iranian petrochemicals sector would be subject to unspecified penalties
and possibly barred from doing business with the US.
US companies have long been barred from doing business with Iran.
Successive US administrations have been steadily broadening sanctions against
the Tehran government in an effort to halt its suspected nuclear weapons
programme.
The new sanctions announced on Monday come in the wake of findings issued
earlier this month by the International Atomic Energy Agency that Tehran was
advancing steps to build nuclear weapons.
In a statement from the White
House, President Barack Obama said that the US was taking additional steps, in
cooperation with Canada and the UK, “to further isolate and penalise Iran for
its refusal to live up to its international obligations regarding its nuclear
programme”. “New sanctions target for the first time Iran’s petrochemical
sector,” Obama said, “prohibiting the provision of goods, services and
technology to this sector.” Obama said that the US would impose unspecified
penalties “against any person or entity that engages in such activity” with the
Iranian petrochemicals industry.
The sanctions announced on Monday also
expand earlier provisions designed to impede and perhaps cripple Iran’s oil and
natural gas sectors.
Perspectives of development of the polymers
markets, pricing issues and other important aspects will be discussed at The Polymers
Summit-2011, which will be held in Moscow on November 30, 2011 at the
Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The
main idea of the Summit is to find a "the golden mean" between producers and
converters. When producers receive exactly such margin of production, which
helps them to invest in production expansion in order to substitute polymers
imports, and the converters receive such price of feedstock that helps them to
compete imported finished products. The Summit site gives an access to the live
video of the Summit, speakers' presentations, as well as opportunities to ask
questions or make appointments to any Summit partcipant.
mrcplast.com
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