Treasury Department sanctions Iran’s automotive and rail sectors

The Treasury Department announced on Thursday afternoon new sanctions levied against Iran’s leading automotive and railway companies in response to the Islamic Revolutionary Guard Corps’ use of both to evade the U.S. naval blockade.

These sanctions are the latest in Operation Economic Outcast, which is the name given to the department’s ongoing effort to squeeze the Iranian economy to the detriment of the Guard. The United States has already issued sanctions on Iran’s aviation, shipping, technology, digital assets, gold, as well as petroleum and petrochemical sectors.