The US imposes sanctions on Iran’s steel sector

Tehran uses the revenues of the steel industry to finance its malicious activities.

US Secretary of State Mike Pompeo announced on Tuesday the imposition of sanctions against 17 companies and one individual associated with Iran’s steel industry, the proceeds of which the Iranian regime uses to finance its destabilizing activities worldwide.

The State Department’s sanctions list includes China’s Kaifeng Pingmei New Carbon Materials Technology and Iran’s Hafez Darya Arya Shipping Company (HDASCO), an Islamic subsidiary of the Republic of Iran Shipping Lines (IRISL). According to Pompeo’s statement, these companies sold or supplied graphite to or from Iran. The head of HDASCO, Majid Sajdeh, was also sanctioned.

The Ministry of Finance has imposed sanctions on 16 companies operating in Iran’s steel industry.

In addition to Iranian steel companies, Germany-based GMI Projects Hamburg GmbH and China’s World Mining Industry were also sanctioned.

“The United States will continue to aggressively impose sanctions on the Iranian regime, as well as on those who evade sanctions and those who allow the regime to finance and carry out its malicious program of repression and terror,” Pompeo said.

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