News

In the past year, a number of companies—including many of Iran's gasoline suppliers—have cut business ties with Iran because of worries about legal consequences in the U.S. and elsewhere, and public-relations concerns. They include Royal Dutch Shell PLC, which halted gasoline sales, and Toyota Motor Corp., which suspended car exports.

LyondellBasell's 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.