The United States continues to increase economic pressure on Iran under the “Economic Exclusion Action”. Today’s sanctions target Iran’s rail, automotive and metals industry operating networks in the Middle East, East Asia and Europe, helping Iran evade sanctions and enter international markets. The Treasury Department has also added Iran’s automotive and rail industries to its list of industry-based decisions, allowing action to be taken against operators in these industries.
This action is part of a broader U.S. government strategy to deny the Iranian regime the resources it needs to threaten regional stability, support terrorism and advance its military ambitions.
The United States will not stand idly by while Iran’s corrupt leadership exploits the country’s industrial base—including its state-owned rail companies, automakers, and metals producers—to maintain a regime that spreads instability and terror throughout the Middle East and beyond.
The State Department is working closely with countries to shut down every avenue Iran uses to generate illicit revenue and ensure that governments and businesses around the world understand the risks of doing business with the Iranian regime.
OFAC issued two new industry sanctions decisions under EO 13902 covering the Iranian automotive and rail industries, enabling them to target any entity or individual operating in these areas. Today’s designation is made under EO 13902 and EO 13871, which also cover Iran’s steel and mining industries. For more information on today’s action, see Treasury’s Press release.