BAKU, Azerbaijan, April 28. Iran’s Trade Promotion Organization (TPO) has imposed a ban on the export of steel products starting from April 26, Trend reports.
The Organization has sent a letter regarding the decision to the Iranian Customs Administration (IRICA). Iran’s steel production capacity stands at around 40 million tons per year.
The move comes amid escalating regional tensions, during which several steel factories in Iran were reportedly struck and seriously damaged in air attacks attributed to the United States and Israel.
Meanwhile, as no tangible progress was made in the nuclear negotiations between the U.S. and Iran, the situation escalated on February 28, when the United States and Israel launched military airstrikes against Iran. In retaliation, Iran initiated missile and drone strikes targeting Israeli and U.S. installations in the region. Following these developments, a two-week ceasefire agreement was brokered on April 7 through Pakistan's mediation. However, during subsequent talks between the U.S. and Iran in Islamabad on April 11, no consensus was reached.
On April 21, U.S. President Donald Trump stated that he extended the ceasefire until Iran submits its proposal and discussions are concluded, one way or the other.
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