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14 Jan 2020 | 16:35 UTC — London
US President Donald Trump hit Iran with tougher economic sanctions on Jan 10, targeting especially the nation's thriving steel industry. Helped by the devaluation of the Riyal,
Iran's steel and iron ore producers have boosted exports in recent months. The new sanctions are aimed at removing potentially 7 million mt of steel products and 17 million mt of iron from global markets.
Related story: Impact of US sanctions on Iran steel, iron exports seen limited: sources