The Iranian steel industry was one of the main winners of the lifting of sanctions against Tehran in 2016. Now, with sanctions back in place, the industry’s future is at stake.
The nuclear deal, otherwise known as Joint Comprehensive Plan of Action, enabled Iran to accelerate its expansion plans and become a major exporting force.
However, the administration of US President Donald Trump reimposed sanctions on trade in metals and minerals (alongside some other products) with Iran on Monday, following Washington’s pullout in May from JCPOA.
August 11, 2018 18:47
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How Iran’s Steel Industry Will Fare Under Sanctions?
Exports could continue with heavy discounts to mitigate buyers’ risk, but that might come as a severe financial blow to the steelmakers in the long run
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