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The US A515 Grade 65 steel government is planning to tighten its policy towards Iran and further increase sanctions. Although the new government announced that it will target Iran's main source of income - the oil network, the steel industry is also concerned that it may become a target of sanctions in the future.
According to official sources, the Office of Foreign Assets Control (OFAC) of the US Treasury Department has announced its decision to sanction an international network that facilitated the transportation of billions of dollars A515 Grade 65 steel worth of crude oil from Iran to China. It is reported that this operation targets entities and individuals from multiple jurisdictions, including China, India, and the United Arab Emirates, as well as multiple vessels.
Considering years of international blockade, severe sanctions are not new for Iran, but there are still some concerns among steel market participants. Sources say that President Trump has put greater pressure on Iran to reduce its oil exports, which have already seen a decline in volume. These developments are affecting the currency market, leading to a significant depreciation of the rial. This factor significantly affects steel exports, as some of the export volume comes from traders who primarily profit from currency fluctuations.
In addition, many industry participants expect the government to exert greater pressure in the future, as maintaining foreign A515 Grade 65 steel exchange inflows will become crucial if oil revenues decline. Market insiders said, "Obviously, when the situation in Iran becomes difficult, it will also have a negative impact on steel exports
