US Sanctions Target Iran's Automotive and Railway Sectors

Washington imposed new Iran-related sanctions today, Thursday, targeting the Iranian railway and automotive sectors, according to Reuters citing the US Treasury Department website.

The United States has increased the pace of imposing sanctions on Tehran, having sanctioned 10 individuals and entities last Tuesday who it said were responsible for purchasing weapons and components for the Iranian Ministry of Defense.

The United States and Britain are also expanding sanctions on the Iranian regime, moving toward a phase that targets money transfer channels and services that have kept it capable of operating outside the traditional banking system.

A new package of British sanctions came into effect on Tuesday, coinciding with growing US interest in the use of stablecoins in financial networks linked to Iran, after a Senate report revealed that 84 percent of 846 wallets subject to sanctions or seizure actions dealt primarily in "Tether" currency.

The company stated from its side that it froze approximately $550 million in assets linked to Iran during the current year.

The British step includes restrictions on loans, investment, banking relations, insurance, and Iranian bonds, alongside oil, gas, petrochemicals, gold, maritime technology, and shipping services.

It also grants authorities broader powers to target ships and prevent their access to ports, an expansion that places the services relied upon by Iranian commercial activity under stricter scrutiny than before.