Thursday, September 29, 2022

Iran Condemns US Ban on Its Metal Industry

The Iranian foreign ministry spokesman has strongly condemned the US regime's decision to impose sanctions on Iran's metal industry.

In a Thursday statement, Seyyed Abbas Mousavi said the US’ measure contravenes the regime’s international commitments, and will result in international liabilities for Washington.

“The sanctions, as has been the case with all the United States’ unilateral measures, counter the basic principles and regulations of international relations,” Mousavi said.

According to the spokesman, the bans are specifically against the US’ international commitments under the UN Charter, the Algeria Declarations, the Treaty of Amity, and the injunction of the International Court of Justice, and the US must be answerable for its offences at the international level through judicial procedures.

The Trump administration announced new sanctions on Iran’s metals sectors Wednesday, the latest step in a push to squeeze Tehran that has heightened tensions in the Middle East.

Trump’s executive order, which imposed sanctions on the steel, aluminum and copper industries, came hours after Iran announced it was reducing some of its commitments under the nuclear agreement. President Donald Trump withdrew the United States from that deal a year ago but Britain, France, Germany, Russia and China remain.

Iran exported over 57 million tonnes of mineral products worth more than $9.2 billion during the fiscal year to March, according to information on the website of Iran’s state-owned mines and metal holding company IMIDRO.

“The responsibility for repairing the damages will lie on the US,” he added.

Iran has about 37 billion tonnes of proven mineral reserves and 57 billion tonnes of potential reserves, worth $800 billion according to 2014 data from an article posted on IMIDRO’s website.

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