Azer News reported Saturday, January 16, 2016 that exports of Iran’s steel to the UAE and Kuwait were ceased following the escalation of tensions between Iran and Saudi Arabia, an Iranian steel producer said.
Reza Shahrestani, a member of the association of Iranian steel producers, said Iran in total exports about three million tons of steel annually and about 300,000 tons of the produced steel go to Kuwait and the UAE, ISNA news agency reported Jan. 13.
Saudi Arabia and its allies, including Sudan, Djibouti, Bahrain, the UAE and Kuwait took a diplomatic action against Iran breaking off or downgrading relations with the Iranian regime after Iranian mobs attacked Saudi missions in Tehran and Mashhad.
According to the World Steel Association, 1.28 million tons of crude steel were produced in Iran in November 2015, which indicates a fall by 12.2 percent year-on-year.