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News > Iran

The US Imposes New Illegal Sanctions on Iranian Metal Companies

  • U.S. new sanctions Iranian metal companies and foreign sales agents.

    U.S. new sanctions Iranian metal companies and foreign sales agents. | Photo: EFE

Published 25 June 2020

The Trump administration has been announcing new sanctions against Iran for two consecutive days as part of its determined efforts to destabilize the Persian nation.

The United States Thursday announced new sanctions against four Iranian metal companies and several foreign sales agents of a blacklisted Iranian steel company. One more attempt by the U.S. to destabilize the Persian nation.


Venezuela Condemns US Sanctions Against Iranian Tanker Captains

The U.S. Treasury Department said in a statement that it had designated four steel, aluminum, and iron companies operating within Iran's metals sector, including one subsidiary of Iran's largest steel manufacturer Mobarakeh Steel Company.

The sanctions list also included one Germany-based and three United Arab Emirates (UAE)-based sales agents owned or controlled by Mobarakeh Steel Company, which had been designated by the United States since 2018.

According to the Department's statement, "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."

Meanwhile, Iran's Foreign Ministry spokesman Abbas Mousavi called the sanctions another "desperate" move by the United States against Iranian individuals and a sign of the "miserable failure" of the Trump administration's pressure policy.

"Despite the U.S. pressure, Iran and Venezuela remain steadfast in countering unlawful American sanctions," Mousavi stressed.

This new illegal move by Washington may be related to the links of international solidarity that has been seen between Iran and Venezuela to withstand U.S. sanctions, now amid the COVID-19 pandemic crisis.

On Wednesday, the United States designated five Iranian tanker captains who delivered Iranian gasoline to Venezuela in the framework of international cooperation between the two countries.

Since its unilateral exit from the Iran nuclear deal in 2018, Washington has been mounting pressure on Tehran through a series of sanctions that contradict international law. However, Iran has maintained a tough stance and scaled back its nuclear commitments in response.

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