Kazakhstan’s company to suspend supply of products from Iran

By  Trend

Kazakhstan’s "ArcelorMittal Temirtau" company is suspending the supply of hot rolled products from Iran, Kazakh media reported July 17 referring to the press service of the company.

The decision has been made in connection with the introduction of U.S. sanctions against Iran, the company explained.

"This is a temporary suspension of hot-rolled products supplies, that is, deliveries will not be carried out until the sanctions are lifted," the company noted.

Earlier, the President of the United States Donald Trump announced the introduction of the sanctions against Iran which were the most stringent sanctions in the history.

The US will restore sanctions against Iran in two stages: from August 4 and November 6. The summer stage will affect the automotive sector, trade in gold and other metals, the autumn stage will mainly concern the fuel and energy complex and transactions of the Iranian Central Bank.