OFAC Sanctions 9 Companies Operating in Iran's Metals Sector

The Office of Foreign Assets Control sanctioned nine companies operating in Iran’s metals sector, including five subsidiaries of Iran-based Mobarakeh Steel Company, the agency said June 25. The sanctions target Mobarakeh Steel subsidiary Germany-based Tara Steel Trading GmbH; Mobarakeh majority-owned Iran-based Metil Steel; and Mobarakeh majority-owned Pacific Steel FZE, Better Future General Trading Co LLC and Tuka Metal Trading DMCC, all based in the United Arab Emirates. OFAC also designated Iran-based South Aluminum Company, Sirjan Jahan Steel Complex and Iran Central Iron Ore Company.

Additionally, OFAC sanctioned Global Industrial and Engineering Supply Ltd., a company with addresses in Hong Kong and China. OFAC said the company transferred graphite to the U.S.-sanctioned Islamic Republic of Iran Shipping Lines.