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US President Announces Sanctions Against Iranian Steel

Posted:2018-11-30 14:09:23

US President Announces Sanctions Against Iranian Steel

The U.S. president issued a statement on the 8th, announcing the signing of an administrative order to impose sanctions on Iran’s iron, steel, aluminum and copper industries. In the statement, it said that the above-mentioned sanctioned industry is the largest source of export revenue of the Iranian government in addition to oil, which will further strengthen the US's "extreme pressure on Iran." He also expressed the expectation that one day he would meet with Iranian leaders to discuss the formulation of a new agreement.
According to the administrative order, the targets of the sanctions include individuals or entities that own or participate in operations related to the iron, steel, aluminum and copper industries in Iran, individuals or entities involved in the trading of goods or services related to the above-mentioned industries in Iran, and individuals or entities providing material or financial, technical support for those who are sanctioned. In addition, foreign financial institutions that provide important financial services for the related industries products exporting from Iranian will also be subject to sanctions. Assets of sanctioned individuals and entities within the United States will be frozen and US citizens shall not trade with them.

The United States announced in May last year that it had withdrawn from the Iranian nuclear issue comprehensive agreement, and then gradually restarted the sanctions against Iraq suspended by the agreement, involving Iranian oil exporting, finance, shipping and other key areas. The EU and France, Germany and Britain have expressed deep regret over the US restart of sanctions against Iraq and indicated that they will continue to work hard to maintain legal trade with Iraq. US unilateral sanctions have led Iran to take countermeasures. Iranian President Rohani announced on the 8th that Iran has suspended the implementation of some provisions of the Iranian nuclear agreement. ( News from Xinhua News Agency)

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