ANL 34.75 Increased By ▲ 0.23 (0.67%)
ASC 14.92 Decreased By ▼ -0.24 (-1.58%)
ASL 24.35 Decreased By ▼ -0.48 (-1.93%)
AVN 90.00 Decreased By ▼ -5.00 (-5.26%)
BOP 7.81 Decreased By ▼ -0.06 (-0.76%)
BYCO 9.92 Decreased By ▼ -0.39 (-3.78%)
DGKC 124.48 Decreased By ▼ -2.12 (-1.67%)
EPCL 56.40 Decreased By ▼ -0.76 (-1.33%)
FCCL 24.25 Decreased By ▼ -0.25 (-1.02%)
FFBL 27.46 Decreased By ▼ -0.50 (-1.79%)
FFL 16.20 Increased By ▲ 0.16 (1%)
HASCOL 9.81 Decreased By ▼ -0.21 (-2.1%)
HUBC 79.12 Decreased By ▼ -0.88 (-1.1%)
HUMNL 6.46 Increased By ▲ 0.01 (0.16%)
JSCL 20.70 Increased By ▲ 0.29 (1.42%)
KAPCO 39.90 Decreased By ▼ -1.04 (-2.54%)
KEL 3.84 Decreased By ▼ -0.03 (-0.78%)
LOTCHEM 16.30 Decreased By ▼ -0.94 (-5.45%)
MLCF 46.40 Decreased By ▼ -0.51 (-1.09%)
PAEL 35.00 Decreased By ▼ -1.17 (-3.23%)
PIBTL 10.35 Decreased By ▼ -0.14 (-1.33%)
POWER 9.21 Decreased By ▼ -0.14 (-1.5%)
PPL 85.10 Decreased By ▼ -0.64 (-0.75%)
PRL 24.99 Decreased By ▼ -0.72 (-2.8%)
PTC 9.60 Increased By ▲ 0.15 (1.59%)
SILK 1.19 Increased By ▲ 0.02 (1.71%)
SNGP 38.61 Decreased By ▼ -0.75 (-1.91%)
TRG 163.07 Increased By ▲ 3.46 (2.17%)
UNITY 30.00 Decreased By ▼ -0.75 (-2.44%)
WTL 1.50 Increased By ▲ 0.07 (4.9%)
BR100 4,810 Decreased By ▼ -41.69 (-0.86%)
BR30 25,456 Decreased By ▼ -214.94 (-0.84%)
KSE100 44,832 Decreased By ▼ -354.46 (-0.78%)
KSE30 18,362 Decreased By ▼ -123.12 (-0.67%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,501
5824hr
Pakistan Cases
725,602
458424hr
Sindh
269,126
Punjab
250,459
Balochistan
20,321
Islamabad
66,380
KPK
99,595
World

U.S. hits Iran with fresh sanctions as Trump term nears end

  • The United States on Tuesday blacklisted a Chinese company that makes elements for steel production, 12 Iranian steel and metals makers and three foreign-based sales agents of a major Iranian metals and mining holding company.
  • This move sought to deprive Iran of revenues as U.S. President Donald Trump’s term winds down.
06 Jan 2021

WASHINGTON (Reuters) - The United States on Tuesday blacklisted a Chinese company that makes elements for steel production, 12 Iranian steel and metals makers and three foreign-based sales agents of a major Iranian metals and mining holding company, seeking to deprive Iran of revenues as U.S. President Donald Trump’s term winds down.

In a statement, the U.S. Treasury Department named the China-based company as Kaifeng Pingmei New Carbon Materials Technology Co Ltd. (KFCC), saying it specialized in the manufacture of carbon materials and provided thousands of metric tonnes of materials to Iranian steel companies between December 2019 and June 2020.

Among the 12 Iranian companies blacklisted are the Pasargad Steel Complex and the Gilan Steel Complex Co, both of which were designated under Executive Order 13871 for operating in the Iranian steel sector.

The others are: Iran-based Middle East Mines and Mineral Industries Development Holding Co (MIDHCO), Khazar Steel Co, Vian Steel Complex, South Rouhina Steel Complex, Yazd Industrial Constructional Steel Rolling Mill, West Alborz Steel Complex, Esfarayen Industrial Complex, Bonab Steel Industry Complex, Sirjan Iranian Steel and Zarand Iranian Steel Co.

The Treasury said it was also designating MIDHCO’s Germany-based subsidiary GMI Projects Hamburg GmbH, its China-based World Mining Industry Co Ltd and U.K.-based GMI Projects Ltd for being owned or controlled by MIDHCO.

“The Trump Administration remains committed to denying revenue flowing to the Iranian regime as it continues to sponsor terrorist groups, support oppressive regimes, and seek weapons of mass destruction,” Treasury Secretary Steven Mnuchin said in the statement. Trump’s term ends on Jan. 20, when Democrat President-elect Joe Biden is to be sworn in to succeed him.