US Treasury sanctions several Iranian banks, institutes

TEHRAN, Oct. 16 (MNA) – The US Treasury imposed sanctions on Tuesday on several Iranian banks as well as industrial and financial institutes.

The US Treasury has imposed sanctions on Bank Mellat, Mehr Eqtesad Bank, Mehr Eghtesad Iranian Investment Co. and five other investment firms.

Iran Tractor Manufacturing Company, which is the largest tractor manufacturer in the Middle East, and Esfahan’s Mobarakeh Steel Company, which is the largest steelmaker in the ME region and North Africa, are among other Iranian firms targeted by the US Treasury's new round of sanctions.

According to the Office of Foreign Assets Control (OFAC), the new sanctions have targeted financial and industrial institutes belonging to the Bonyad Taavon Basij (Basij Cooperative Foundation).

MNA/4432427

News Code 138767

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