New Executive Order: Targeting Iran’s Metals Sector

Yesterday, the Trump administration issued an Executive Order (“EO”) to take steps to deny Iran revenue derived from exports of Iranian metals that may be used to fund or support the proliferation of WMDs and terrorist activities.  According to the EO, US persons cannot operate or engage in the Iranian metals sector, engage in significant transactions relating to the metals sector and/or assist others whose property or interests are blocked under this EO.

As the President explained, this action “targets Iran’s revenue from the export of industrial metals—10 percent of its export economy—and puts other nations on notice that allowing Iranian steel and other metals into your ports will no longer be tolerated.”

OFAC published a notice of this action as well as FAQs.  Click the hyperlinks for details.

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