US sanctions Iran’s major automakers, rail firms under new rules from October 1
Treasury said the move lets Washington block firms operating in those sectors and added major automakers and rail companies to its sanctions list.
- 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.
31 Articles
31 Articles
Treasury targets Iranian auto, rail sectors in latest round of sanctions
The Treasury Department sanctioned Iranian auto and rail industries on Thursday, the latest salvo in its economic campaign against the Islamic Republic. The Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the entirety of those industries, which the administration views as critical sources of funding for the regime, the department noted in a release. The...
The US Treasury announced on Thursday new sanctions targeting Iran's car and rail sectors, as well as several companies in the metal industry. Measures are part of Trump's efforts to limit Tehran's funding sources, CNBC reports.
"The railway and automotive sectors represent some of the most important sources of revenue and logistical capacity that the regime still maintains," according to a statement from the U.S. Treasury Department. "Today's measure directly hits the critical arteries on which Iran depends to sustain its economy and evade sanctions," he added. Sanctions include the country's two largest car manufacturers, Iran Khodro (IKCO) and SAIPA, which supply bot…
The government of the President of the United States, Donald Trump, imposed on Thursday new sanctions on Iran, targeting clusters of the country's railway and automotive sectors and international suppliers of these industries, informed the U.S. Treasury Department, in the latest initiative to isolate Tehran economically.
Coverage Details
Bias Distribution
- 67% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
