Published on September 15, 2018
The Iranian government has announced a new rule for steel and petrochemical exports with immediate effect.
According to the directive dated September 5, exporters of steel (including semi-finished, finished and downstream products) and petrochemical materials, must return all hard currency earned from overseas sales into the country within 60 days from the date of export.
A steel trader said that considering the US restrictions imposed on Iran steel trade and banking transactions, the new regulation will make exporting even more difficult but it is not expected to reduce the export trend much.
