U.S. imposes sanctions on companies operating in Iran’s metals sector

The United States on Thursday blacklisted four companies in Iran’s metals sector, as well as one German and three Emirati subsidiaries of Iran’s largest steelmaker that Washington said generate millions of dollars for Tehran’s metals industry.

The Treasury Department said in a statement that the sales agents together generated tens of millions of dollars annually from the foreign sale of Mobarakeh Steel Company products, contributing to billions of dollars generated overall by Iran’s steel, aluminum, copper and iron sectors.

“The Iranian regime continues to use profits from metals manufacturers and foreign sales agents to fund destabilizing behavior around the world,” Treasury Secretary Steven Mnuchin said in the statement.