US announces new sanctions on Iran after missile strikes

Iran launched the strikes in retaliation for the US drone strike that killed Revolutionary Guard Gen. Qasem Soleimani.

January 10, 2020 09:59 pm | Updated 09:59 pm IST - Washington

Secretary of State Mike Pompeo and Treasury Secretary Steve Mnuchin brief reporters about additional sanctions on Iran, in Washington on January 10, 2020.

Secretary of State Mike Pompeo and Treasury Secretary Steve Mnuchin brief reporters about additional sanctions on Iran, in Washington on January 10, 2020.

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 “destabilising” activities in the Middle East as well as Tuesday’s missile strike, which came in retaliation for the US killing of a senior Iranian general in a drone strike.

Mr. 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 US 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.

Iran this week launched the strikes in retaliation for the US drone strike that killed Revolutionary Guard Gen. Qasem Soleimani, the country’s most powerful commander, in Baghdad last week.

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