News ID: 254386
Published: 0352 GMT June 16, 2019

Lawmaker: Iran’s steel exports indicate US failure in sanctions policy

Lawmaker: Iran’s steel exports indicate US failure in sanctions policy

A senior Iranian lawmaker stressed that despite Washington’s hype about its bans and pressures on Iran’s steel industry, the country is still exporting the strategic product, rendering US sanctions obsolete.

“The steel sanctions against Iran are not something new and they had been imposed against the Iranian companies in the past, too," Hamidreza Fouladgar told Fars News Agency on Sunday.

He noted that companies had gained experience to confront sanctions, and said that they have found some successful methods to this end.

“Despite all attempts the Americans have made to cripple Iran’s exports, there is a target market that has not been affected much by the sanctions,” Fouladgar said.

Iranian companies are strenuously increasing steel production despite threats and sanctions.

A senior official said in April that Iran’s Mobarakeh Steel Company could produce over 500,000 tons of hot-rolled steel in one month.

“The workers of the hot-rolled steel unit were able to produce 500,282 tons of products during March 21-April 20,” said the head of the hot-rolled steel unit of the company, Mehdi Ali Akbarian.

He added that 116,054 tons of low-thickness and high-quality steel and 65,051 tons of sponge iron were respectively produced in Saba Steel Complex and Sefid Dasht Steel Company.

Iran announced in March that steel production in the 11 months between March 2018 and February 2019 had witnessed an eight-percent growth compared with the corresponding period last year, producing 19.604 million tons of crude steel.

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