{"id":221215,"date":"2020-06-27T09:29:03","date_gmt":"2020-06-27T08:29:03","guid":{"rendered":"https:\/\/www.ncr-iran.org\/en\/?p=221215"},"modified":"2023-01-24T15:10:42","modified_gmt":"2023-01-24T14:10:42","slug":"u-s-slaps-new-sanctions-on-iran-regimes-metal-industry","status":"publish","type":"post","link":"https:\/\/www.ncr-iran.org\/en\/news\/u-s-slaps-new-sanctions-on-iran-regimes-metal-industry\/","title":{"rendered":"U.S. Slaps New Sanctions on Iran Regime\u2019s Metal Industry"},"content":{"rendered":"
\"U.S.
US Treasury in<\/span> a<\/span> press release<\/span> announced that it has <\/span>sanctioned <\/span>four steel, aluminum, and iron companies operating within<\/span> the<\/span> Iranian regime\u2019s metals sector<\/span><\/figcaption><\/figure>\n

On Thursday, the United States Department of the Treasury\u2019s <\/span>O<\/span>ffice of Foreign Assets Control (OFAC)<\/span>, in<\/span> a<\/span> press release<\/span><\/a> announced that it has <\/span>sanctioned <\/span>four steel, aluminum, and iron companies operating within<\/span> the<\/span> Iranian regime\u2019s metals sector<\/span>, including <\/span>one subsidiary of <\/span>Mobarakeh<\/span> Steel Company \u2014 Iran\u2019s largest steel manufacturer.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

The U.S. Treasury <\/span>has also sanctioned o<\/span>ne Germany-based and three United Arab Emirates (UAE)-based sales agents for being owned or controlled by <\/span>Mobarakeh<\/span> Steel Company<\/span>.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201c<\/span>Mobarakeh<\/span> Steel Company was designated in 2018 pursuant to counterterrorism authorities for providing support to Iran\u2019s <\/span>Mehr<\/span> Eqtesad<\/span> Iranian Investment Company, an entity designated for being owned or controlled by the IRGC-affiliated Bonyad <\/span>Taavon<\/span> Basij<\/span>. <\/span>Mobarakeh<\/span> Steel Company was also designated in 2020 for operating in Iran\u2019s steel <\/span>sector and<\/span> was sanctioned by the seven member nations of the Terrorist Financing Targeting Center in October 2019 for being part of Iran\u2019s terror support network. Together, these sales agents generated tens of millions of dollars annually from the foreign sale of <\/span>Mobarakeh<\/span> Steel Company products, providing significant contributions to the billions of dollars generated overall by Iran\u2019s steel, aluminum, copper, and iron sectors<\/span>,\u201d read Treasury\u2019s statement.\u00a0<\/span><\/p>\n

<\/a><\/p>\n

\u201cThe Iranian regime continues to use profits from metals manufacturers and foreign sales agents to fund destabilizing behavior around the world,\u201d said Secretary Steven T. Mnuchin. \u201cThe 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.\u201d<\/span>\u00a0<\/span><\/p>\n

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The Iranian regime continues to prioritize the funding of terrorist groups over the needs of the Iranian people. @USTreasury<\/a> took action today to further restrict revenues from a key Iranian sector. https:\/\/t.co\/ksVQiAdUfD<\/a><\/p>\n

\u2014 Steven Mnuchin (@stevenmnuchin1) June 25, 2020<\/a><\/p><\/blockquote>\n