WASHINGTON (US) – The Donald Trump administration on Tuesday blacklisted a Chinese firm making elements for steel production, 12 Iranian steel and metals makers and three overseas sales agents of an Iranian metals and mining firm. This comes in a bid to deprive Iran of revenue as Trump’s term comes to a close.
In a statement, the US Treasury Department named the China-based firm as Kaifeng Pingmei New Carbon Materials Technology Co Ltd. (KFCC), adding that it is specialised in making carbon materials and shipped thousands of metric tonnes of materials to Iranian steel companies between December 2019 and June 2020.
As per filing, the firm is owned by Henan Yicheng New Energy.
The blacklisted Iranian firms include 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 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 others include 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 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.