TEHRAN, Iran, Jan.13
Trend:
US new sanctions against Iran's steel industries are symbolic and previous sanctions had more pressures, Head of Tehran Iron and Steel Union Mohammad Azad told Trend.
"The US re-imposed sanctions against Iran's steel, aluminum and copper in 2018 targeting the country's steel industry. The pressures have increased since October 9, 2018, and several steel companies including Mobarakeh Steel Company were sanctioned; however, the new sanctions against steel industries are only for the US publicity," Mohammad Azad said.
"The only difference with previous sanctions is that the number of the sanctioned steel companies have increased. For example, Chadormalu Mining and Industrial Company as well as Hormozgan Steel Co are added to the list, although Chadormalu only produces iron ore and its exports has been already banned by Iran," the official added.
"Iran's steel products is the best non-oil export with considerable foreign currency revenues that can even replace oil income; therefore, the US has put steel products in its sanction list," Mohammad Azad added.
"Iran has been sanctioned during past 40 years and has always found ways to evade them, so it seems recent sanctions were rather symbolic, since the individuals in the list have neither connection to the US nor travel there," he said.
Following Tehran’s attack on U.S. military bases in Iraq, the Trump administration imposed new sanctions on Iran on last week, which cover the Islamic Republic’s steel industry and eight senior leaders.
In addition to sanctioning 17 steel and mine producing companies, the US Treasury Department has also included in the list a network of entities based in China and Seychelles alongside a vessel involved in the transfer of Iran steel products.
The sanctioned companies include Almahdi Aluminum Co, Arfa Iron and Steel Co, Chadormalu Mining and Industrial Company, Mobarakeh Steel Company, Golgohar Mining and Industrial Co, Hormozgan Steel Co, Iran Alloy Steel Company, Iranian Aluminium Company, Iranian Ghadir Iron & Steel Co, Iron Ore Association of Iran, Khorasan Steel Complex Company, Khouzestan Steel Company, Iran National Copper company, Khouzestan Oxin Steel Co, Persian Gulf Saba Steel, South Kaveh Steel Co., Pamchel Trading Beijing Co based in China, Hongyuan Marine Co located in China, Power Anchor located in the Seychelles, and Reputable Trading Source in Oman.