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As Trump’s time period nears finish, US imposes recent sanctions on Iran

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Donald Trump’s time period ends on January 20. Picture: Reuters/File
  • 12 Iranian metal and metallic makers blacklisted by US
  • Trump administration imposes recent sanctions to disclaim income flowing to the Iranian regime
  • Three-foreign primarily based gross sales brokers additionally blacklisted

With the Trump administration nearing tenure finish, the US has imposed recent sanctions on Iran.

The US Treasury Division stated in a press release that 12 Iranian metal and metallic makers, and three foreign-based gross sales brokers of an Iranian metals and mining holding firm have been blacklisted. 

“The Trump Administration remains committed to denying revenue flowing to the Iranian regime as it continues to sponsor terrorist groups, support oppressive regimes, and seek weapons of mass destruction,” US Treasury Secretary Steven Mnuchin stated within the assertion.

Learn extra: Trump adamant on reimposing Iran sanctions with controversial ‘snapback’

Among the many 12 Iranian corporations blacklisted are the Pasargad Metal Complicated and the Gilan Metal Complicated Co, each of which have been designated beneath Govt Order 13871 for working within the Iranian metal sector.

The others are Iran-based Center East Mines and Mineral Industries Growth Holding Co (MIDHCO), Khazar Metal Co, Vian Metal Complicated, South Rouhina Metal Complicated, Yazd Industrial Constructional Metal Rolling Mill, West Alborz Metal Complicated, Esfarayen Industrial Complicated, Bonab Metal Trade Complicated, Sirjan Iranian Metal and Zarand Iranian Metal Co.

The Treasury stated it was additionally designating MIDHCO’s Germany-based subsidiary GMI Tasks Hamburg GmbH, its China-based World Mining Trade Co Ltd and UK-based GMI Tasks Ltd for being owned or managed by MIDHCO.

Learn extra: US vows to ‘snapback’ after UN rejects bid to reinstate Iran sanctions

One of many corporations is China-based Kaifeng Pingmei New Carbon Supplies Know-how Co Ltd. (KFCC). The treasury division stated the corporate specialises within the manufacture of carbon supplies and offered 1000’s of metric tonnes of supplies to Iranian metal corporations between December 2019 and June 2020.

Nobody at KFCC, which makes graphite electrodes, was accessible for touch upon Wednesday. Filings present the corporate is owned by Henan Yicheng New Power, which stated it was unaware of the scenario.

Shares in Yicheng, which is finally managed by China’s Henan province, fell as a lot as 6.7% to a two-week low on Wednesday. When Yicheng was shopping for KFCC in 2019, it stated exports – to Southeast Asia, the Center East, and Europe – accounted for about half of KFCC’s core enterprise.

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