Iran bans goods from South Korea’s Samsung and LG

While Iran finds itself throttled by US economic and banking sanctions that are still a far cry from being repealed, a new layer of complexity has been added to the country’s economic misfortunes – the government has put a wholesale ban on imports of home appliances from South Korea, and is gearing up to apply bans on other foreign products. 

On September 29, Supreme Leader Ayatollah Ali Khamenei instructed President Ebrahim Raisi to ban the importation of home appliances, specifically from “two South Korean firms” which he didn’t name, reportedly to stave off the insolvency of domestic manufacturers.

He noted in his brief memo that the domestic firms had only just begun to stand on their feet and the government would come to their assistance.

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