Trump Administration Imposes Sanctions on Iranian Steel Companies

Following the recent attacks in Iran, President Trump has imposed new sanctions on Iran including targeting 13 Iranian steel and mining companies. Additionally, sanctions will be imposed on three Seychelles-based entities, aluminum and copper companies and the Liberian-flagged and Chinese-owned vessel Hong Xun, known to transport metal products.

“We are also designating Iran’s largest metals manufacturers, and imposing sanctions on new sectors of the Iranian economy including construction, manufacturing and mining,” said Treasury Secretary Steven Mnuchin. “These sanctions will continue until the regime stops the funding of global terrorism and commits to never having nuclear weapons.”