US imposes further sanctions on Iranian shipping entities

The US State Department has added seven entities and two individuals, including subsidiary of the Islamic Republic of Iran Shipping Lines (IRISL), to a blacklist as part of its latest sanctions against the Middle Eastern country.

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The entities sanctioned include Iran Freedom and Counter-Proliferation Act, China-based Jiangyin Mascot Special Steel, Iran Transfo Company and Zangan Distribution Transformer Company, UAE-based Accenture Building Materials, Iran’s Mobarakeh Steel Company, and the IRISL subsidiary Sapid Shipping.

Mohammad Reza Modarres Khiabani, CEO of IRISL, has also been put onto the sanctions list.

Earlier this month, Hafez Darya Arya Shipping Company, another subsidiary of IRISL, and Majid Sajdeh, a principal executive officer of the company, were sanctioned by the US.