US hits Iran's steel industry again
On Tuesday, the United States sanctioned a Chinese steelmaking equipment company, 12 Iranian steel and metal producers, and three overseas salespeople for a major Iranian mining and metals holding in an effort to deprive Iran of steel revenues.
“The Trump administration remains committed to denying the Iranian regime's revenues as it continues to sponsor terrorist groups, support repressive regimes and develop weapons of mass destruction,” Treasury Secretary Stephen Mnuchin said in a statement.
Trump's term ends on January 20, when Democratic President-elect Joe Biden is to be sworn in and succeed.
Previously it was reported that the US sanctions imposed in January 2019 against the Iranian steel industry did not prevent the boom in the country's metal products market.
According to the World Steel Association, Iran had the highest growth in steel production in the world in 2020. In addition, the country has increased its exports of metal products by double digits.
While global steel production fell 1.3% in the first 11 months of 2020, Iranian refineries smelted 26.369 million tonnes of steel in January-November this year, up 13% from the same period last year. year.