Iran's Petrochemical sector is expected to be badly affected by the recent announcement by the US Government to impose yet another sanction. This time it is specifically targeting Iran's petrochemical industry.
The sanction can be as soon as next Monday.
Iran has responded that it is largely a political motive by the IAEA and the United States in accusing Iran of having nuclear power. European countries are expected to follow suit, but not immediately, especially during these times as the bloc is fighting its own economic turmoil and companies with roots in Europe are feeling nervous.
Further sanctions will hurt the companies having business deals on the petrochemical industry with Iran.
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