U.S. Treasury imposes sanctions on Iran's railway and automobile industries, aiming to hit logistics networks

[Washington Current Affairs] The US Treasury announced on the 1st that it has imposed sanctions on Iran's railway and automobile industries. The aim is to deal a blow to the logistics network that supports crude oil transportation. Due to the de facto closure of the Strait of Hormuz, Iran has become increasingly dependent on land transportation such as trains and automobiles. Increase pressure through sanctions.

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The sanctions targeted Iran's national railway company and major railway and freight companies. Sanctions were also imposed on Iran Khodro, a major domestic automobile company that is believed to have close ties to Iran's elite military organization, the Revolutionary Guards. Automotive-related companies from the United Arab Emirates (UAE), Türkiye, and other countries were also targeted for their involvement in evading U.S. sanctions.

In addition, sanctions were imposed on Iran's mining and road construction equipment companies, alleging that exports of metal and mechanical products were a source of funds for Iran, and the assets of all of them in the United States were frozen. Foreign financial institutions involved in transactions with sanctioned companies may be subject to secondary sanctions.