Iran not much concerned about fresh US sanctions: Deputy industry min.

Sunday, May 12, 2019 1:07 PM 100 views

Tehran, Iran expo headquarters -Jafar Sarqini told Iran's Tasnim news agency that the fresh restrictive measures imposed by US President Donald Trump on Iran’s iron, steel, aluminum, and copper sectors, seem "unlikely" to significantly affect the country's metal industry.

"There is not much concern about these sanctions as Iranian steel, copper and aluminum have their own special customers in the world," he said.

Sarqini also stressed that Iranian goods in the metal sector have high-quality and meet global standards.

"There is no specific problem regarding the selling of Iranian metals in the international markets because they always have their special customers due to their high quality and value," he added.

The official also noted that Iran's exports in the metal industry sector did not decline over the past year following Washington's withdrawal from the nuclear deal, but rather increased compared to its previous year.

Last year, he added, Iran produced 25 million tons of steel, which make up 1.5 percent of the world's steel output.

Iran plans to boost steel output to 55 million tons a year by 2025, of which 10-15 million tons would be earmarked for export.

In a statement released on Wednesday, Trump said that the new anti-Iran sanctions target "Iran's revenue from the export of industrial metals - 10 percent of its export economy."

He also warned other countries that "allowing Iranian steel and other metals into your ports will no longer be tolerated.” 

The announcement was made on the first anniversary of Washington's unilateral withdrawal from the nuclear agreement — officially called the Joint Comprehensive Plan of Action (JCPOA).

Since then, the Trump administration has reimposed sanctions on Iran's energy, shipbuilding, shipping, and banking sectors under a campaign of “maximum pressure” against the Islamic Republic.



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