Iran eases import rules for petrochemical raw materials

Iran’s industry ministry has approved the import of certain petrochemical and polymer-related raw materials through sailor and border porter procedures, according to a directive issued on May 20.

The decision was communicated in a letter from the ministry’s exports and imports regulations office to Iran’s customs administration, Caliber.Az reported, citing Iranian media.

The move comes amid disruptions to oil and petrochemical flows through the Strait of Hormuz following the outbreak of the Iran war, which has tightened global chemical supply chains and pushed up prices for plastics and polymers.

The Middle East accounts for more than 40% of global polyethylene exports, led by Saudi Arabia, with shipments reaching nearly all regions outside North America, the next-largest exporting hub.

Since the escalation of conflict in the region, prices for key plastics such as polyethylene (PE) and polypropylene (PP) have risen sharply, tracking higher crude oil and feedstock costs.

By Sabina Mammadli