Iran keeps selling its methanol despite US sanctions on the country’s exports. “Our market for methanol exports is guaranteed and we have no worries about exporting this product,” said an Iranian official. The United States has pledged to squeeze Iran’s oil exports – the country’s main source of revenue – to a trickle but Iran stated that the plan has failed.
China, which has major methanol-to-olefins capacities, is the key target market for Iranian supplies. Its top five importers account for 60% of Iranian methanol supplies to China.
India was another major buyer of the Iranian methanol before the United States targeted Iran’s oil, petrochemical, steel, cement and automotive industry with sanctions last year. Iranian methanol shipments also went to Europe, with Italy accounting for the bulk of imports.
