As we know, last night the US Treasury Department’s Office of Foreign Assets Control announced that the Persian Gulf Petrochemical Company and its 39 subsidiaries and dealers were blacklisted. But the country’s petrochemical industry has already seen such sanctions, and it can be said that “new” sanctions have not been imposed. The difference is that […]
As we know, last night the US Treasury Department’s Office of Foreign Assets Control announced that the Persian Gulf Petrochemical Company and its 39 subsidiaries and dealers were blacklisted. But the country’s petrochemical industry has already seen such sanctions, and it can be said that “new” sanctions have not been imposed. The difference is that in the sanctions imposed by the US Treasury Department last night, it only specifically targeted the country’s petrochemical industry. The new sanctions will have negative effects, but fortunately the country’s petrochemical companies anticipated such a day and began exporting through ways that are unclear to Americans. So the new sanctions do not seem to be working as well as the Americans expect. But the problem is that in addition to the United States, we impose sanctions on ourselves at home. In the polymer industry, the base price of petrochemical products is determined in half currency. In the last few weeks, we have witnessed a sharp upward slope of the half dollar, which has caused base prices to move upwards, contrary to global practice. The half-dollar price of 11 thousand tomans has raised the price of commodities to such an extent that it has become equal to the price of export products, and practically the exporter cannot produce products that are able to compete in export markets. This will have a devastating effect on our economy because the “recessionary conditions” have been created. If the seller of raw materials does not reconsider his prices or does not create solutions such as non-cash payment, LC, etc., this recession will intensify and will lead to the closure of production units. A review of transactions in recent weeks also proves that the polymer market is generally in recession. We see a large decrease in demand, which, unlike last year, is lower than supply. This will damage the complementary industries and the consequences for the upstream industries. The Office of Complementary Industries Development, Commodity Exchange and other relevant agencies are expected to devise an immediate solution as soon as possible and replace it with the half dollar formula.
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