U.S. imposes sanctions on companies operating in Iran's metals sector

[Aramagedon]

A country which is not older than 150 years has put the heaviest sanctions on a country which has 9000 years old civilizations.
https://en.wikipedia.org/wiki/Tepe_Sialk

U.S. imposes sanctions on companies operating in Iran's metals sector

WASHINGTON (Reuters) - The United States on Thursday blacklisted four companies in Iran’s metals sector, as well as one German and three Emirati subsidiaries of Iran’s largest steelmaker that Washington said generate millions of dollars for Tehran’s metals industry.


FILE PHOTO: A staff member removes the Iranian flag from the stage after a group picture with foreign ministers and representatives of the U.S., Iran, China, Russia, Britain, Germany, France and the European Union during the Iran nuclear talks at the Vienna International Center in Vienna, Austria July 14, 2015. REUTERS/Carlos Barria/File Photo
The Treasury Department said in a statement that the sales agents together generated tens of millions of dollars annually from the foreign sale of Mobarakeh Steel Company products, contributing to billions of dollars generated overall by Iran’s steel, aluminum, copper and iron sectors.

“The Iranian regime continues to use profits from metals manufacturers and foreign sales agents to fund destabilizing behavior around the world,” Treasury Secretary Steven Mnuchin said in the statement.

The sanctions are the latest U.S. effort to slash Iranian revenues since U.S. President Donald Trump withdrew in 2018 from the 2015 Iran nuclear deal, exacerbating U.S.-Iranian tensions.


Thursday’s action targeted Tara Steel Trading GmbH, a Germany-based subsidiary of Mobarakeh Steel Co; United Arab Emirates-based sales agents Pacific Steel FZE, Better Future General Trading Co LLC and Tuka Metal Trading DMCC, all majority-owned by Mobarakeh Steel Co; and Iran-based Metil Steel, also majority-owned by the company.

Mobarakeh Steel Co, previously blacklisted by Washington, accounts for 1% of Iran’s gross domestic product, the Treasury said.

The Treasury also blacklisted Iran-based aluminum, steel and iron producers South Aluminum Company, Sirjan Jahan Steel Complex and Iran Central Iron Ore Company.

Also designated was Global Industrial and Engineering Supply Ltd, which the Treasury said had addresses in China and Hong Kong and had in 2019 knowingly transferred graphite to a blacklisted Iranian entity.

https://www.reuters.com/article/us-...perating-in-irans-metals-sector-idUSKBN23W2DE

 

[Aspen]

I have no doubt that Iran will overcome this challenge as it has overcome many challenges before

 

[Aramagedon]

I have no doubt that Iran will overcome this challenge as it has overcome many challenges before

InshaAllah.

We are suffering for 40 years but I hope so.

 

[Philosopher]

They are running out moves to play now. Trump, and by extension the Americans as a whole are not very good chess players. They focus only on the current board as it is and cannot accurately think any moves ahead. They do not realise that by overplaying these sanctions, they will become nigh useless in the future as nations will become less reliant on American financial systems (they are playing into the Chinese hand). Sanctions do not work by themselves, they work well only in tandem with other measures. These sanctions may slow Iran down, but they will also force Iran to become much more self reliant i.e stronger in the long run. Trump has no clear plan. He is just throwing policies and seeing what sticks.