US imposes new sanctions on Iran’s auto, rail, manufacturing, steel sectors — Pajhwok

KABUL(Pajhwok): The US Department of the Treasury has imposed new sanctions on companies operating in Iran’s automotive, railway, manufacturing and steel sectors, as well as foreign networks linked to them, saying the measures are aimed at further restricting Iran’s economic and industrial resources. In a statement, the US Treasury Department said the measures are part of a campaign called “Operation Economic Outcast,” which Washington launched against Iran on August 24 this year. According to the statement, the Treasury’s Office of Foreign Assets Control (OFAC) has designated Iran’s automotive and railway sectors and added a number of major companies operating in these industries to its sanctions list. Among those designated are Iran’s two major automakers, Iran Khodro Company (IKCO) and SAIPA Iranian Automobile Manufacturing Company (SAIPA). The Treasury said the two companies account for more than 90 percent of Iran’s domestic automotive market. Iran Khodro Diesel, Pars Khodro, Zamyad, and two motorcycle manufacturers have also been added to the sanctions list. In Iran’s railway sector, the Islamic Republic of Iran Railway Company, Raja Passenger Trains Company, and a private freight railway company have also been designated. The Treasury Department said it has also sanctioned companies in Indonesia, the United Arab Emirates, Türkiye and Hong Kong that supply parts and other equipment to Iran’s automotive industry. In addition, a number of companies…