US sanctions Iran's auto and rail sectors effective October 1
World
The US just rolled out fresh sanctions on Iran's auto and railway sectors, kicking in from October 1.
Big names like Iran Khodro, Saipa, and the national rail company are now on the list.
According to the US Treasury, this move is all about addressing what Washington described as an "unusual and extraordinary threat" to US national security, foreign policy and the economy.
Assets in US frozen, Americans barred
Companies added to the list have their assets in the US frozen, and Americans aren't allowed to do business with them unless there's special permission.
Even non-US companies could get penalized if they work with these Iranian firms.
It's part of a bigger push by the US to put economic pressure on Iran by targeting key industries.