The economic newspaper Donya-e-Eqtesad published a report on Thursday that Iran had halted all exports of petrochemicals in order to 'prioritise the domestic supply' and prevent shortages. This was due to the?disrupted production? after Israel attacked several petrochemical centers.

A senior National Petrochemical Company official in charge of downstream industries gave the instruction on April 13, telling petrochemical firms to suspend exports.

The export ban is primarily intended to stabilize domestic markets and to ensure supply for?industries after recent attacks caused damage.

Officials say that domestic prices for petrochemicals and other related products will remain at the pre-conflict levels despite global?price increases. They also said they would continue to implement these measures in order to support the local industry and consumers.

Israel has targeted key petrochemical hubs in Asaluyeh, and Mahshahr in recent weeks. Strikes have been launched against the utilities that provide feedstock to petrochemical factories and disrupted production.

This week, the U.S. Military began to block shipping traffic into and out of Iran’s ports. The move was intended to reduce?Iran’s export revenues while exerting?pressure?on Tehran.

According to Fars News, Iran exports around 29 millions tons of petrochemicals per year worth $13 billion.

(source: Reuters)