Estimated read time: 1-2 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
WASHINGTON (AP) — The Trump administration on Friday announced a new wave of sanctions on Iran following this week's missile strikes by the Islamic Republic on U.S. bases in Iraq.
Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin said the new sanctions will target eight senior Iranian officials involved in “destabilizing” activities in the Middle East as well as Tuesday's missile strike, which came in retaliation for the U.S. killing of a senior Iranian general in a drone strike.
Mnuchin said President Donald Trump will issue an executive order imposing sanctions on anyone involved in the Iranian textile, construction, manufacturing or mining sectors. They will also impose separate sanctions against the steel and iron sectors.
“As a result of these actions we will cut off billions of dollars of support to the Iranian regime,” the treasury secretary said.
The administration has already reinstated all the U.S. sanctions that were eased under the 2015 nuclear deal, which has caused significant economic hardship in Iran and cut its oil exports to historic lows.
As a result of these actions we will cut off billions of dollars of support to the Iranian regime.
–Treasury Secretary Steven Mnuchin
Iran this week launched the strikes in retaliation for the U.S. drone strike that killed Revolutionary Guard Gen. Qassem Soleimani, the country's most powerful commander, in Baghdad last week.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
