Iranian mining companies on the list of US sanctions

June 26, 2020
American sanctions reveal three Emirati companies controlled by Iran American sanctions reveal three Emirati companies controlled by Iran Photo source: - Compilation of news visibility from Google

Egyptian News Vision: - The recent US sanctions imposed by the US Treasury revealed the existence of three companies in the United Arab Emirates controlled by an Iranian company.

The three companies are Pacific Steel, Peter Future General Trading and TOKA Metal Trading, which the United States says is controlled by "Black Blessing" on the blacklist since 2018 in connection with the Iranian Revolutionary Guards.

America has included new sanctions on a number of companies operating in the Iranian mining sector, including a subsidiary of Iran's largest steel producer.

The US Treasury said in a statement that its foreign asset control office, which administers the sanctions, listed "four companies in the steel, aluminum and iron sector, including a branch of Mubarakah Steel, the main producer of steel in Iran."

The US Treasury has also added four sales agents to its blacklist, one in Germany is Tara Steel Trading Limited, and three in the United Arab Emirates are Pacific Steel, Peter Future General Trading, and Toka Metal Trading.

"The Iranian regime continues to exploit the profits of mining companies and their ability to sell abroad to fund destabilizing activities around the world," said US Treasury Secretary Stephen Mnuchin.

The US measure includes three other mining companies that together account for billions of dollars in sales and exports figures each year.

It is related to the South Aluminum Company, the Sirjanhan Steel Steel Complex, and Iran Central Iron Or.

The US Treasury also imposed sanctions on "Global Industrial and Engineering Supply Limited", a company based in China and Hong Kong, for delivering graphite to Iran.

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