Iran's two largest steel plants have been shut down due to multiple rounds of US-Israeli air strikes, the companies operating them say. Our initial estimate is that restarting these units will take at least six months and up to one year, Mehran Pakbin, deputy head of operations at the Khuzestan Steel Company in south-western Iran, was quoted as saying by Iranian media.
Mobarakeh Steel Company said its production lines in the centre of the country had completely shut down following the high volume of attacks. The strikes, which Israeli media and Iran's foreign minister said were first launched by Israel in coordination with the US last Friday, could cause major damage to Iran's economy.
Iran is the 10th biggest producer of steel globally, according to data from the World Steel Association. In addition to using steel domestically for construction and manufacturing, it exports the material across the world. Any halt to production could have major implications for supply chains and businesses across the country, which for years have been affected by comprehensive Western sanctions.
Israeli media reported that an Israeli security source indicated the strikes were expected to cause billions of dollars in damage to the Iranian economy, and that the steel plants were linked to Iran's Islamic Revolution Guard Corps (IRGC).
The IRGC retaliated by targeting US-linked steel and aluminium facilities in Gulf states. Reports indicated that US and Israeli forces have widened their range of targets in Iran, raising concerns about civilian infrastructure being affected.
Iran has been under an internet blackout, complicating information gathering about the situation, making it difficult to verify information from the country as it faces escalating attacks.
Mobarakeh Steel Company said its production lines in the centre of the country had completely shut down following the high volume of attacks. The strikes, which Israeli media and Iran's foreign minister said were first launched by Israel in coordination with the US last Friday, could cause major damage to Iran's economy.
Iran is the 10th biggest producer of steel globally, according to data from the World Steel Association. In addition to using steel domestically for construction and manufacturing, it exports the material across the world. Any halt to production could have major implications for supply chains and businesses across the country, which for years have been affected by comprehensive Western sanctions.
Israeli media reported that an Israeli security source indicated the strikes were expected to cause billions of dollars in damage to the Iranian economy, and that the steel plants were linked to Iran's Islamic Revolution Guard Corps (IRGC).
The IRGC retaliated by targeting US-linked steel and aluminium facilities in Gulf states. Reports indicated that US and Israeli forces have widened their range of targets in Iran, raising concerns about civilian infrastructure being affected.
Iran has been under an internet blackout, complicating information gathering about the situation, making it difficult to verify information from the country as it faces escalating attacks.
