Trump administration announces new sanction on Iranian steel, iron, aluminium and copper industries

According to a White House Report, the Trump administration announced new sanctions on Iran's metals sectors on Wednesday under International Emergency Economic Powers Act. This is a punitive step against Tehran that has been creating tensions in the Middle East.

Trump's executive order has imposed sanctions on the Iranian iron, steel, aluminium and copper industries. The order came after Iran withdrew from parts of a nuclear agreement signed during Obama era. United States withdrew from that deal a year back but Britain, France, Germany, Russia and China are still a part of the deal.

“The order takes steps to deny Iran revenue, including revenue derived from the export of products from Iran’s iron, steel, aluminium, and copper sectors, that may be used to provide funding and support for the proliferation of weapons of mass destruction, terrorist groups and networks, campaigns of regional aggression, and military expansion,” the Trump order says.

The order blocks the property and interests in property of persons involved in iron, steel, aluminium, or copper sector of Iran. The sanctions will be determined by the Secretary of the Treasury, in consultation with the Secretary of State.  The order blocks any person or organization knowingly engaged in any kind of transaction in the metal sector.

The administration describes this strategy as "maximum pressure."

“Tehran can expect further actions unless it fundamentally alters its conduct,” Trump said.

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