The U.S imposed new sanctions on Iran on Friday, of which 17 specific sanctions were levied against the Middle Eastern country’s largest steel and iron manufacturers. 

 

The sanctions were announced after Iran’s missile attack on a US base in Iraq earlier this week damaged the base, though no casualties were reported.  

 

According to Treasury Secretary Steven Mnuchin, who announced the sanctions, these penalties were aimed at cutting off billions of dollars that support the Iranian economy. 

 

Mnuchin said that these sanctions were authorized against any individual owning, operating, trading with, or assisting sectors of the Iranian economy, including construction, manufacturing, textiles and mining.

 

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