Middle East Economic Survey

VOL. LIV

No 48

28-Nov-2011

IRAN

Iran Defiant Over New US Sanctions On Petchems Industry

On 21 November the US government announced a decision to impose yet another new set of sanctions on Irans energy sector, which would specifically target any form of foreign investment in the countrys petrochemical industry that exceeds $5mn, or $1mn over a period of 12 months. Hillary Clinton, the US Secretary of State, noted in a statement to Congress that Irans petrochemical...