Monday, July 13, 2020
Home News U.S. Slaps New Sanctions on Iran Regime’s Metal Industry

U.S. Slaps New Sanctions on Iran Regime’s Metal Industry

U.S. Slaps new sanctions on Iran regime’s Metal Industry
US Treasury in a press release announced that it has sanctioned four steel, aluminum, and iron companies operating within the Iranian regime’s metals sector

On Thursday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC), in a press release announced that it has sanctioned four steel, aluminum, and iron companies operating within the Iranian regime’s metals sector, including one subsidiary of Mobarakeh Steel Company — Iran’s largest steel manufacturer.  

The U.S. Treasury has also sanctioned one Germany-based and three United Arab Emirates (UAE)-based sales agents for being owned or controlled by Mobarakeh Steel Company 

Mobarakeh Steel Company was designated in 2018 pursuant to counterterrorism authorities for providing support to Iran’s Mehr Eqtesad Iranian Investment Company, an entity designated for being owned or controlled by the IRGC-affiliated Bonyad Taavon Basij. Mobarakeh Steel Company was also designated in 2020 for operating in Iran’s steel sector and was sanctioned by the seven member nations of the Terrorist Financing Targeting Center in October 2019 for being part of Iran’s terror support network. Together, these sales agents generated tens of millions of dollars annually from the foreign sale of Mobarakeh Steel Company products, providing significant contributions to the billions of dollars generated overall by Iran’s steel, aluminum, copper, and iron sectors,” read Treasury’s statement. 

“The Iranian regime continues to use profits from metals manufacturers and foreign sales agents to fund destabilizing behavior around the world,” said Secretary Steven T. Mnuchin. “The United States remains committed to isolating key sectors of the Iranian economy until the revenues from such sectors are refocused toward the welfare of the Iranian people.” 

According to the U.S. Treasury, these new sanctions have implication on “All property and interests in property of these persons that are in the United States or in the possession or control of U.S. persons,” and the deals “must be blocked and reported to OFAC. OFAC’s regulations generally prohibit all dealings by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked or designated persons, unless licensed or exempt.” 

The Iranian regime uses these vast national resources to pursue its warmongering policies. Meanwhile the Iranian people are grappling with the COVID-19 pandemic, that has so far claimed the lives of over 61,000 people. 

As long as this regime is in power, it will continue using people’s wealth to pursue illicit and destructive activities. As Mrs. Maryam Rajavi, the President-elect of the National Council of Resistance of Iran (NCRI), had said: Today, regime change in Iran is indispensable not only to freedom and democracy in Iran but also to the health of each and every individual in Iran and to the protection of their houses, cities and villages against natural disasters.”  

FOLLOW NCRI

70,864FansLike
34,271FollowersFollow