U.S. Sanctions Iran’s Automotive, Rail Transportation Sectors
THERAN - The U.S. Treasury
Department has imposed a new round of sanctions on Iran, targeting 28 companies and two individuals linked to the country’s automotive, rail transportation and heavy industries. The measures also affect parts of Iran’s transportation infrastructure used for passenger and freight movement.
According to the list published by the Treasury Department’s Office of Foreign Assets Control (OFAC), major Iranian automakers including Iran Khodro, SAIPA and Pars Khodro, as well as several other vehicle and motorcycle manufacturers, have been added to the sanctions list.
Washington has also sanctioned the Islamic Republic of Iran Railways (Raja) and several affiliated entities, including Raja Passenger Trains and other companies involved in rail transportation. The move directly targets a major part of Iran’s infrastructure for passenger travel and freight transport.
The new sanctions are not limited to Iranian companies and also cover parts of the foreign supply network providing components to Iran’s automotive industry. Companies in Indonesia, the United Arab Emirates, Turkey and Hong Kong that the U.S. Treasury says have been involved in supplying or transferring vehicle and truck parts to Iran have also been sanctioned.
In the heavy industries sector, the Iranian Heavy Equipment Production Company (HEPCO) and a related Chinese company have also been targeted by the new sanctions.