“Our actions make it more durable and costlier at each flip for Iran to proceed its destabilizing conduct,” Yellen mentioned in an announcement. “We’ll proceed to deploy our sanctions authority to counter Iran with additional actions within the days and weeks forward.”
The targets of the most recent sanctions embrace 16 individuals and two corporations that allow Iran’s drone manufacturing. 5 corporations that present supplies for Iranian metal producer Khuzestan Metal Firm have been additionally sanctioned. Treasury can also be sanctioning three subsidiaries of an Iranian automaker accused of supporting the Iranian regime.
Iran over the weekend despatched greater than 300 drones and missiles towards Israel in response to a lethal Israeli assault on an Iranian consulate in Syria. The Iranian assault didn’t trigger main harm or accidents, as a result of Israeli, U.S. and different forces intercepted a lot of the barrage.
The brand new sanctions, which the administration had earlier this week signaled they have been to return, seem designed to tame fairly than inflame tensions within the area, as President Biden has sought to forestall a wider unfold of hostilities within the Center East.
Some critics have pushed the administration to go additional to scale back Iranian income by sanctioning China’s huge purchases of Iranian oil. The Treasury Division has taken some steps to sanction Chinese language companies for doing so, however a extra bold crackdown would threat elevating world oil costs, and subsequently U.S. fuel costs in an election yr.