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MSC chief: Mobarakeh Steel taps legal mechanisms to defy sanctions
The managing director of Mobarakeh Steel Company (MSC) has said that the US had imposed sanctions on Iran’s steel, gas and petrochemistry industries before, adding imposition of sanctions by the US Department of Treasury on MSC is not a new development.
In an interview with a mining website (asremadan.com), Hamidreza Azimian said, “Unfortunately placing MSC and a couple of other companies on the list released by the US Treasury Department is likely to create restrictions for Mobarakeh Steel, but we will tap into legal potential and strategies to defy the sanctions and prevent them from interfering with the company’s performance.”
He further said this needs coordination with state institutions and the Ministry of Industries, Mines and Trade, adding MSC management will hold talks with them to work out a solution. “We will formulate our solutions and share them with all MSC customers, stakeholders and those who are in contact with Mobarakeh Steel Company as soon as possible.”
As for MSC’s measures, he said the company’s management will announce its decisions after it makes necessary coordination inside the company and with the government.         
“We try to minimize the impact of the hostile act by the US which is weaponizing sanctions against countries. We try to reduce the effects of sanctions on the company to the lowest level,” Azimian said.
Asked about how sanctions can rock Iran’s target markets in European countries as well as in neighboring Iraq and Afghanistan, he said, “As I mentioned earlier, imposition of sanctions is not something new. What is new this time around is the fact that MSC has been included in the list of Iranian companies under sanctions. We will keep holding talks with the parties to our contracts and will work out strategies to maintain our market share in European and neighboring countries. Furthermore, talks between the Iranian government and the so-called P4+1 are still ongoing. We can also tap into the potential of these five nations.”


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