Jan 22, 2020 14:01 UTC
  • Iran expects steel exports to touch $5 billion despite US economic terrorism

Iran expects its steel exports to touch 10 million tonnes in the year to March 21, 2020 despite tyrannical sanctions imposed on the country by the US, a senior official says.

According to Press TV, the exports will bring in $4 billion to $5 billion for the country which is hard pressed for money amid an aggressive US push to sink Iran’s oil revenues to zero, head of the country's largest holding in metals sector known as IMIDRO Khodadad Gharibpour said.

Earlier this month, the Trump imposed new illegal sanctions on Iran’s metals sector, targeting the construction, manufacturing, textiles, mining, aluminum, copper, iron and steel industries.

Last month, the US government warned against exports of steel-making materials to Iran, including graphite electrodes and needle coke.

However, Iran’s Minister of Industry, Mine and Trade Reza Rahmani put the damper on Washington’s haughty grandstanding, saying Iranian producers had obtained the technology to make graphite electrodes.

“The aim of harsh American sanctions on the metal industry is to stop Iran’s exports, but this did not happen practically and we are seeing a boom in exports,” Gharibpour said on Tuesday.

Over the current Iranian year, he said, exports of National Iranian Copper Industries Co and Mobarakeh Steel Company have risen by more than $1 billion.

Iran is a leading producer of steel in the world, with officials saying exports continue despite the US economic terrorism.