As announced by JPC Commercial Office, by temporary lifting of sanctions on exports of petrochemical products, the name of JAM Petrochemical has been excluded from OFAC list.
According to JPC public relations, as announced by JPC Commercial Office, based on the Geneva deal made on November 24, 2013 between Iran and the group 5+1 some sanctions against Iran has been lifted temporarily since January 20, 2013. The agreement is for a period of six months, i.e., till July, 20. 2013 during which Iran is also obliged to do its own commitments as specified in the agreement.
The report adds: easing sanctions over petrochemical products exports includes removing all financial, insurance, and shipment limitations. Further, 14 Iranian major petrochemical companies including Jam Petrochemical Company are excluded from OFAC list.
This significant event makes the financial transfer easier, so that the money gained as a result of products sales will be transferred easier. Future, a great opportunity will be provided to reexport the products to other counties with more competitive prices than those in the current markets and the resultant profit will be increased noticeably. Some other sanctions namely on petrochemical products, automotive industry, Gold and precious metals, air transportations, crude oil and petroleum products exports and exceptions were also mentioned in th