GCC countries may ban the importation and transit of Iranian goods, Platts learnt from the Iranian Steel Producers Association, which cited comments attributed to the Bahrain Chamber of Commerce & Industry.
No official statement has been published but there are no direct exports to Bahrain and Saudi Arabia taking place in the current month.
GCC prohibitions on imports from Iran (plus transit of Iranian goods) is possible, but has not been agreed by the UAE and Oman, Keyvan Jafari Tehrani, board member and head of international affairs of the Iranian iron ore producers and exporters’ association (IROPEX), said in Tehran Thursday. It was suggested by Saudi Arabia and Bahrain is following.
It has almost been accepted by Kuwait and Qatar and if accepted by Oman and the UAE it could decrease some 50% of Iranian export sand re-exports, he added.
An Iranian trader in the UAE said that an Iranian import prohibition is not very likely to happen because there is reasonable trade going on between Iran and the GCC, especially with the UAE and Oman.
The GCC includes six countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. Iranian steel producers make regular exports to Oman, Qatar, Kuwait and the UAE, but there are no direct exports of steel from Iran to Bahrain or Saudi Arabia according to Iranian customs statistics.
