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Trump announces sanctions on Iran’s metals sector

Tensions between the US and Iran have grown since April, when Washington opted to further squeeze Tehran by ending sanctions waivers granted to eight countries that import Iranian oil.
US President Donald Trump on Wednesday imposed sanctions on Iran’s iron, steel, aluminum and copper sectors amid escalating tensions between Washington and Tehran.

The White House said those industries account for 10 per cent of Iranian exports, the Efe news reported.
“Today, I am signing an executive order to impose sanctions with respect to Iran’s iron, steel, aluminum and copper sectors, the regime’s largest non-petroleum-related sources of export revenue,” Trump said in a statement.

“Today’s action targets Iran’s revenue from the export of industrial metals – 10 percent of its export economy – and puts other nations on notice that allowing Iranian steel and other metals into your ports will no longer be tolerated,” he added.