The Iranian club was found guilty for failing to pay salary of Brazilian players Vinícius Silva Soares and Vinícius "Neguete" Lopes Laurindo.
Foolad sits sixth in the Iran Professional League (IPL) table, 14 points adrift of leader Persepolis.
Iranian clubs have problem to transfer money because of the US sanctions.
Machine Sazi has also had problem to pay salary of its Brazilian player.