Reuters Reports that U.S. Government Opposes Basell's Sale to Iran's NPC
Reuters reported today that the U.S. Government has significant concerns over the possible sale of Basell NV, the world's largest producer of polypropylene and advanced polyolefins products, to Iran's National Petrochemical Company. The article states that sources familiar with the negotiations have said the chances of Basell being sold to Iran "is decreasing." The article states that "The United States, which has sanctions in place against Iran, is worried that a deal could result in a transfer of technology to the Iranians and would also make it impossible for U.S. citizens to continue to do business with Basell." More specifically, the article indicates that if Basell "becomes owned by the Iranian government it would be considered an Iranian national, and U.S. companies and persons would not be able to transact business with it."