US targets 4 each of major metal firms, sales agents in new Iran-related sanctions
Jun 26, 2020
Washington DC [USA], June 26 (Sputnik/ANI): The United States has imposed a new round of sanctions against four Iranian metal companies and four sales agents outside of Iran, the Treasury Department said on Thursday (local time).
"Today, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) took action against four steel, aluminium and iron companies operating within Iran's metals sector, including one subsidiary of Mobarakeh Steel Company -- Iran's largest steel manufacturer," a release said.
The Treasury Department said it also designated one Germany-based and three United Arab Emirates (UAE)-based sales agents for being owned or controlled by the Mobarakeh.
The department designated Tara Steel Trading GmbH, Pacific Steel FZE, Better Future General Trading Co LLC, Tuka Metal Trading DMCC, and Metil Steel for being owned or controlled by Mobarakeh.
The latest sanctions against Iran's three large aluminium, steel and iron producers were imposed over their collective contribution "to the equivalent of billions of dollars generated overall in sales and export of Iranian metals annually".
The sanctioned firms include South Aluminum Company, Sirjan Jahan Steel Complex and Iran Central Iron Ore Company, all based in Iran.
The Treasury Department also said that Global Industrial and Engineering Supply Ltd, which has addresses in China and Hong Kong, knowingly transferred 300 metric tons of graphite to sanctioned Iran's Shipping Lines last year. (Sputnik/ANI)
