Between Japan and Europe, the rebirth of Iran

Between Japan and Europe, the rebirth of Iran

Editorial Staff
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Tehran has announced some preliminary results of the post-sanctions era, such as its renewed trade relationship with Japan, which is expected to resume crude oil exports from Iran and the construction by Germany's BASF of a petrochemical site in the southern part of the country

The first results following the lifting of the sanctions on Iran have begun to materialize. Tehran’s Oil Minister Bijan Zangeneh has announced that crude oil exports from Iran to Japan could soon reach the level of the “pre-sanctions era”. Following a meeting in Tehran with Katsuyuki Kawai, special adviser to Japanese Prime Minister Shinzo Abe, Zangeneh reiterated that the “time is ripe” for maintaining relations with Japan, adding that “Tehran and Tokyo can resume their ties in the oil industry”. Meanwhile, the Director of the Center for Research and Technology of Iran’s National Petrochemical Company, Esmaeil Ghanbari, has confirmed the start of talks with European and Asian companies for the purchase and transfer of more modern technology to Iran. The German multinational chemical firm, BASF has already announced its intention to invest $4 billion in the Iranian industry. Marzieh Shahdani, the managing director of the National Petrochemical Company (NPC), explained that the German company is expected to construct a petrochemical site in southern Iran. BASF will have a 605 stake in the project.