Treasury Sanctions Key Actors in Iran s Steel Sector marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.
January 6, 2021 Share
The United States has sanctioned entities and individuals associated with Iran’s steel industry, the U.S. Treasury Department said Tuesday, the latest move in a U.S. pressure campaign against Tehran in the waning days of Donald Trump’s presidency.
The U.S. Treasury Department said in a statement that it blacklisted more than a dozen entities and one person.
The sanctions were imposed on the Chinese-owned Kaifeng Pingmei New Carbon Materials Technology Co., Ltd. (KFCC), a manufacturer of carbon materials, key elements in steel production.
The Treasury Department said the company sold materials and equipment to a steel company in Iran through an Iranian trading firm between December 2019 and June 2020. The company was targeted “for having materially assisted, sponsored or provided financial, material or technological support for, or goods or services in support of Iranian steelmaker Pasargad Steel Complex.”
6 Jan in 13:00
The U.S. Treasury Department announced Tuesday it imposed sanctions on an Iranian person and 17 companies that operate in the country s steel sector, according to the ministry s website.
Majid Sajdeh was added to the sanctions list, along with firms that largely operate in Iran s steel, mining and mineral industries. The Iranian regime uses revenue from its metals sector to fund the regime’s destabilizing activities around the world, Secretary of State Mike Pompeo said, noting that two companies knowingly sold, supplied, or transferred, directly or indirectly, graphite to or from Iran.
One Germany-based company, one UK-based and one China-based were designated for being owned or controlled by Iran s Middle East Mines and Mineral Industries Development Holding Company, he added.