U.S. Sanctions Target Iran’s Saipa and Firms in Automotive, Rail and Steel Sectors

The U.S. Treasury Department has imposed a new package of sanctions on Iranian automaker Saipa, which has maintained a significant presence in the Iraqi market for years.

Saipa initially exported its vehicles to Iraq before later moving to assemble some of its models locally. The new sanctions also target six other Iranian companies linked to the automotive sector, including Hepco, a heavy-equipment manufacturer, as well as the Iranian railway company and Raja, a passenger rail transportation firm, in addition to several companies operating in the steel and metals sectors.