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Iran’s June-loading LPG exports more than halved from May, but trade sources said the latest US Treasury Department sanctions on Chinese, Hong Kong and UAE firms tied to the producer’s petrochemical exports would have minimal impact on Iran-China trade in the coming months. June-loading LPG exports fell to 386,000 mt from 859,000 mt in May, . ....
The US on Thursday imposed sanctions on Kong Kong-based and Emirati companies, as well as a network of Iranian firms that help export the country’s petrochemicals, a step that might raise pressure on Tehran to revive the 2015 Iran nuclear deal. The US Department of the Treasury said it had imposed penalties on two companies based in Hong Kong, three in Iran and four in the United Arab Emirates (UAE), as well as on Chinese citizen Gao Jinfeng and Indian national Mohammed Shaheed Ruknooddin Bhore. “The United States is pursuing the path of meaningful diplomacy to achieve a mutual return to compliance ....
Iran’s LPG exports are set to stay near two-year peaks of around 500,000 mt in July and August, meeting China’s voracious appetite for cheaper petrochemical feedstock given the increase in the number of its propane dehydrogenation plants, trade sources said. The high volumes, which some sources estimate could exceed 500,000 mt, are expected to last . ....