US slaps sanctions on entities for Iranian steel transactions
The US State Department is sanctioning several entities and individuals for doing steel-related business involving the Islamic Republic of Iran Shipping Lines, its subsidiaries and other Iranian shipping entities, the department said Jan. 15.
State is imposing sanctions on IRISL under the Iran Freedom and Counter-Proliferation Act for knowingly selling grain-oriented electrical steel to Hoopad Darya Shipping Agency Company, according to a statement.
Hoopad is included on the List of Specially Designated Nationals and Blocked Persons maintained by the Treasury Department’s Office of Foreign Assets Control.
“The State Department is also imposing sanctions on Mohammad Reza Modarres Khiabani, CEO of IRISL, who has been determined to be a principal executive officer, or person performing similar functions and with similar authorities, of IRISL,” the department added.
Reuters Reuters
17 January, 2021, 1:36 pm
FILE PHOTO: Secretary of State Mike Pompeo speaks at the National Press Club in Washington, DC, U.S., January 12, 2021. Andrew Harnik/Pool via REUTERS
WASHINGTON (Reuters) – The United States on Friday imposed sanctions on companies in Iran, China and the United Arab Emirates for doing business with the Islamic Republic of Iran Shipping Lines and on three Iranian entities over conventional arms proliferation.
They are the latest in a series of measures aimed at stepping up pressure on Tehran in the waning days of President Donald Trump’s administration, which ends on Wednesday.
U.S. Secretary of State Mike Pompeo said Washington had sanctioned seven companies, including Chinese-based Jiangyin Mascot Special Steel Co and UAE-based Accenture Building Materials, and two people for shipping steel to or from Iran.
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The United States on Friday sanctioned companies in Iran, China and the United Arab Emirates for doing business with the Islamic Republic of Iran Shipping Lines and on three Iranian entities over conventional arms proliferation.