The US Treasury Department imposed sanctions on people and entities for their association with the steel and mineral production sector in Iran, in an attempt to deprive Tehran of revenue about two weeks before the end of President Donald Trump’s term.
The sanctions included a Chinese company, as a supplier of graphite electrodes, in addition to 12 Iranian entities producing steel and other metals, and 3 foreign sales agents working for an Iranian mineral and mining holding company.
The list of Iranian companies covered by the new sanctions includes the Pasargadae Steel Complex and the Gilan Steel Complex Company, and they were listed under Executive Order No. 13871 related to work in the Iranian steel sector.
The other companies are the Iran-based Middle East Holding Company for the Development of Mines and Metallurgical Industries, Khazar Steel Company, Vian Complex, Rouhina Al Janoub Steel Complex and Yazd Steel Rolling Mill for Construction Industries.
In addition to the Western Albers Steel Complex, Evraian Industrial Facility, Bonab Steel Industry Complex, Iranian Sirjan Company, and Iranian Zarand Steel Company.
The Treasury Department also listed Hamburg-based GMI Projects, a subsidiary of the Middle East Mining and Mining Industry Development Company, China-based Global Mining Industry Corporation, and UK-based GMI Projects Ltd., for being owned or controlled by the Middle East Holding Company. .
The US Treasury said that the Iranian mineral sector is an important source of income for the regime and generates wealth for its leaders, and it funds a range of malicious activities, including weapons of mass destruction, support for foreign terrorist groups, and human rights violations.
US Treasury Secretary Stephen Mnuchin stressed that the Trump administration remains committed to denying the Iranian regime the flow of its financial revenues.