Issued on December 16, the alert says parties who transfer or export graphite electrodes and needle coke to Iran run the risk of having blocking sanctions imposed on US-based property and assets.
In addition to producers and exporters, parties along the supply chain are also exposed to the sanctions, including port operators, shippers, shipping companies, and vessel operators and owners.
The US Government takes strong action to deny the Government of Iran revenue derived from Iran’s steel sector, the statement added.
Graphite electrodes are mainly used in electric steelmaking, due to their high levels of electrical conductivity and ability to withstand high temperatures. Electric steelmaking uses electric arc furnaces to create steel by melting down other recycled steel products.
Needle coke is needle-shaped carbon material characterized by low electrical resistance and strong shock resistance, and is the main input used to create graphite electrodes.
Tensions have escalated between Iran and the US since 2018 when USPresident Donald Trump withdrew from Tehran’s 2015 nuclear deal with world powers and began a policy of “maximum pressure.”
MNA/PR
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