GLOBAL ECONOMY

Iran imposes sanctions on 15 US companies

Iran has imposed sanctions on 15 American companies over their alleged support for Israel, terrorism and repression in the region.

A Foreign Ministry statement carried by the state-run IRNA news agency Sunday said the companies are barred from any agreements with Iranian firms and that former and current directors will not be eligible for visas.

The move is seen as a response to U.S. sanctions placed on dozens of Iranian entities in February following an Iranian missile test. Iran's sanctions are unlikely to have much impact as none of the targeted U.S. companies are known to do business in Iran.

The companies include Bent Tal, United Technologies Products. ITT Corporation, Raytheon, Re/Max Real Estate, Magnum Research Inc., Oshkosh Corporation, Kahr Arms and Elbit Systems.