Iran's deputy oil minister denied that the Islamic republic has stopped its petrochemical exports to the European Union (EU), the semi-official ISNA news agency reported Monday.

Abdolhossein Bayat rejected some media reports that Iran has halted its petrochemical exports to the EU saying that Iran's petrochemical exports have not faced any problem despite the West's sanctions, said the report.

The demands for Iran's petrochemical products double the country's exports capacity, said the official, adding that the Islamic republic is planning to meet the customers' demands by launching a number of petrochemical complexes in the future.

Countries like Afghanistan and Pakistan are ready to invest in Iran's petrochemical industry and Iran is negotiating over their requests, Bayat was quoted as saying.

Over the past years, Iran has not only expanded the range and volume of its products, but has also taken steps in areas such as R&D to achieve more self-sufficiency.

Despite pressures being exerted on the Islamic republic over its nuclear program, Iran exported 16.2 million tons of various petrochemical products to 60 countries and regions around the world, during March 2010 to March 2011, and its revenue from petrochemical exports reached 10.4 billion US dollars.

According to local reports, Western Europe and China are the main destinations of Iran's petrochemical exports, followed by Southeast Asia, the Middle East, Indian subcontinent, Africa and Latin America.