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US sanctions Iran's largest automakers, major rail companies
The United States on Thursday announced fresh sanctions targeting Iran's largest automakers, as well as major rail, manufacturing and metals companies, as Washington seeks to exert maximum pressure in its war against the country.
"Because the rail and automotive sectors represent some of the regime's largest remaining sources of revenue and logistical capacity, today's action strikes directly at the critical arteries Iran relies on to sustain its economy and evade sanctions," the US Treasury said in a statement.
The new sanctions target the country's two largest automakers Iran Khodro (IKCO) and SAIPA, which service both the domestic market and export to regional trading partners.
In total, seven automakers were sanctioned under the new action, part of Washington's so-called "Operation Economic Outcast" launched as part of its drive to starve the Iranian government of revenue sources.
Niroo Motor, Iran's largest motorcycle manufacturer, was among those sanctioned.
Thursday's actions also took aim at international partners of Iran's auto sector, including Indonesia's Golden Motorcycle Company, and auto parts companies in the United Arab Emirates, Turkey and Hong Kong.
Key Iranian rail companies sanctioned on Thursday include the state-owned Islamic Republic of Iran Railway Company (RAI), the Raja Passenger Trains Company and private freight carrier Sherkat-E Rah Ahan-E Khamle-O-Naghle.
The fresh sanctions also targeted major steel and other manufacturers in Iran, including Heavy Equipment Production Company (HEPCO), described by the US Treasury as "one of the Middle East's largest manufacturers of mining and road construction machinery."
Washington also sanctioned HEPCO's Shanghai-based subsidiary.
The new sanctions also targeted companies in the United Arab Emirates and Germany accused of aiding Iranian steel companies.
Finally, the new measures also targeted what was described as a complex steel and oil export network run by two Hong Kong-based Iranian-Dominican nationals, reports BSS.