US sanctions Iran’s major automakers, rail firms under new rules from October 1
- On Thursday, the United States expanded its sanctions framework to cover Iran's automotive and rail sectors, allowing Washington to target entities operating within these industries to address what officials described as an "unusual and extraordinary threat."
- President Donald Trump and Treasury Secretary Scott Bessent launched the measures under "Operation Economic Outcast," a sanctions effort touted as Iran's "economic D-Day" when unveiled in late August to hobble Tehran's financial lifelines.
- Treasury officials added major entities to the sanctions blacklist, including Iran Khodro, Pars Khodro, Saipa, Zamyad, Iran Railway Company, and Raja Passenger Trains Company.
- OFAC extended penalties to Iran-linked firms in Hong Kong, China, the UAE, Indonesia, Germany, and Turkey, as placement on the Specially Designated Nationals List generally blocks property interests within US jurisdiction.
- Bessent stated that "Today's action directly targets Iran's enablers and lays the groundwork for the United States and our partners to drain the regime's revenue once and for all.
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The United States on Thursday announced new sanctions on Iran's largest automakers, as well as major railroad, manufacturing and metals companies, as Washington seeks to exert maximum pressure on Iran.
The United States has tightened sanctions on Iran. The US Treasury Department on Thursday, as part of Operation Economic Outcast, took action against the A7 payment network. It is connected to Russia and, according to the department, helps Iran and other actors circumvent sanctions and move money. The office also imposed sanctions on Iran's automotive and railway sectors and other companies connected to the country's industry.
US Imposes New Sanctions on Iran’s Auto, Rail Sectors and Foreign Suppliers
The United States has imposed new sanctions on Iran’s automotive and rail sectors, as well as international companies accused of supplying parts and other support to the industries. The U.S. Treasury Department announced the measures on Thursday, October 1, as part of its “Operation Economic Outcast,” a broader campaign aimed at cutting off financial and […]
Moldovan fugitive Ilan Shor is behind A7, a parallel financial structure that allows Russia to circumvent its international isolation
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