Iranian NPC Welcomes Relief of Sanctions

Source: Shana 11/24/2013, Location: Asia

The board of directors of National Petrochemical Company (NPC) welcomed sanctions relief on Iran’s petrochemical sector.

During a meeting of the NPC’s board of directors, the body discussed sanctions and expressed readiness of NPC for more cooperation with other countries in the sector.

NPC’s board of directors stated it was waiting to hear more about the details of the deal Iran and 5+1 group clinched in Geneva on Iran’s nuclear issue.

“We are waiting Ministry of Foreign Affairs to announce more details on the nuclear deal and its results for petrochemical sector”, the body stated.

The body also expressed hope new international environment provides better conditions for growth and development of Iran's petrochemical industry.

A historic deal was struck early Sunday between Iran and six world powers over Tehran's nuclear program that lifts some sanctions.

The agreement -- described as an "initial, six-month" deal -- includes suspension of certain sanctions on gold and precious metals, Iran’s auto sector, and Iran’s petrochemical exports.

The deal also allows purchases of Iranian oil to remain at their current levels.


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