LyondellBasell to terminate all operations in Iran, cease all business with Syria, Sudan

LyondellBasell Industries NV is terminating all its operations in Iran, and also plans to cease all business with Syria and Sudan. Much of the company's business in the three countries involves licensing technology for polymer production. This decision means it will stop all licensing of its proprietary technology and services to Iranian petrochemical companies, which have depended heavily on technology from European concerns to produce plastics and other high-value products derived from natural gas. in Other majors that cut business ties with Iran include Royal Dutch Shell PLC, which halted gasoline sales, and Toyota Motor Corp., which suspended car exports.
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