US President Donald Trump hit Iran with tougher economic sanctions on Jan 10, targeting especially the nation’s thriving steel industry. Helped by the devaluation of the Riyal,
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Iran’s steel and iron ore producers have boosted exports in recent months. The new sanctions are aimed at removing potentially 7 million mt of steel products and 17 million mt of iron from global markets.
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Impact of US sanctions on Iran steel, iron exports seen limited: sources