ArcelorMittal Temirtau to suspend hot-rolled steel coil exports to Iran: adviser

ArcelorMittal Temirtau to suspend hot-rolled steel coil exports to Iran: adviser
The suspension follows President Trump's decision to abandon the Iran nuclear deal. (Shutterstock)
Updated 17 July 2018

ArcelorMittal Temirtau to suspend hot-rolled steel coil exports to Iran: adviser

ArcelorMittal Temirtau to suspend hot-rolled steel coil exports to Iran: adviser
  • The decision follows President Trump’s announcement that the US would withdraw from the Iran nuclear deal
  • Trump has previously suggested that organizations that continue to trade with Iran could potentially face sanctions

MOSCOW: ArcelorMittal Temirtau, a Kazakh unit of the world's largest steelmaker, will suspend the export of hot-rolled steel coils to Iran due to the re-imposition of US sanctions, Alex Agoureev, an adviser to the company, told Reuters.
"Supplies to Iran will be temporarily suspended due to the sanctions. Once sanctions are lifted, the supplies will be resumed," said Agoureev, an adviser to ArcelorMittal CIS CEO Paramjit Kahlon.
He did not say when the suspension would happen or provide further details.
In May, President Donald Trump withdrew the United States from the Iran nuclear deal and ordered the reimposition of US sanctions against Tehran that were suspended under the 2015 accord. A range of U.S. sanctions is due to kick in after a "wind-down" period ends on Aug. 6.