Examining the methods of converting the threats caused by sanctions on Iran’s petrochemical industry to economic opportunities and investigating the growth rate of Iran’s petrochemical industry during sanction

Abstract

Purpose This study aims to examine the methods of converting the threats caused by sanctions on Iran’s petrochemical industry to economic opportunities and investigating the growth rate of Iran’s petrochemical industry during sanctions. Design/methodology/approach The present research was descriptive-exploratory and the research method was based on a mixed research strategy. In the qualitative part, two methods of content analysis and semistructured interview were used and in the quantitative part, the survey method was used. The participants of the qualitative part were the content of all related published researches that have been published in the past 20 years and to conduct a semistructured interview with experts that were selected by nonprobability sampling method. In the quantitative part, the statistical population, there were including managers, supervisors and experts active in the Iran’s petrochemical industry (especially in Asaluyeh area of Iran), the sampling method was nonprobability of the type available. Findings The findings of the research showed that the potential risks resulting from the sanctions on Iran’s petrochemical industry from the review of the selected researches include 5 main risks (marketing, financial, supply and procurement, technological and production) and 26 related subrisks. Also, the ranking of the mentioned risks showed that among the main risks, the highest rank is related to the financial risk and among the subrisks, the increase in transaction costs and disruption in the implementation of contractual obligations have the highest rank. Research limitations/implications The investigation of the growth rate of Iran’s petrochemical industry during the sanctions in terms of performance (production, export and foreign exchange) showed that the amount of production has gone through a growing trend during the period under review (it has grown by more than 68%). Also, the amount of exports in the investigated time period has been growing (it has grown by more than 70%) and finally, the amount of foreign exchange in this time period has experienced growth (more than 58% growth). Originality/value Introducing and examining methods of turning threats into economic opportunities in Iran’s petrochemical industry under the shadow of sanctions, which can be used in other active industries under sanctions in the energy field.