U.S. sanctions companies in Iran’s steel sector

U.S. sanctions companies in Iran’s steel sector

The U.S. Treasury Department announced Tuesday it imposed sanctions on an Iranian person and 17 companies that operate in the country's steel sector, according to the ministry's website.

Majid Sajdeh was added to the sanctions list, along with firms that largely operate in Iran's steel, mining and mineral industries.

"The Iranian regime uses revenue from its metals sector to fund the regime’s destabilizing activities around the world," Secretary of State Mike Pompeo said, noting that two companies "knowingly sold, supplied, or transferred, directly or indirectly, graphite to or from Iran."

One Germany-based company, one UK-based and one China-based were designated for being owned or controlled by Iran's Middle East Mines and Mineral Industries Development Holding Company, he added.

"The United States will continue to aggressively implement sanctions with respect to the Iranian regime, those who evade sanctions, and others who enable the regime to fund and carry out its malign agenda of repression and terror," Pompeo added.

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