The United States announces new sanctions targeting Iran’s UAV production in response to Iran’s attack on Israel.
G7 Commitment to Action
President Joe Biden emphasizes the G7 nations’ commitment to intensify economic pressure on Tehran through collective action.
Targets of the Sanctions
The sanctions target individuals and entities associated with Iran’s Islamic Revolutionary Guard Corps, Defence Ministry, and missile and drone program responsible for the recent assault.
Sanctions Details
The US Treasury Department outlines sanctions on entities facilitating Iran’s UAV production, companies involved in steel production for Iran’s Khuzestan Steel Company (KSC), and subsidiaries of the Iranian automaker Bahman Group.
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Additional Controls
The US Commerce Department imposes new controls to limit Iran’s access to certain technologies, including basic commercial-grade microelectronics.
Escalating Tensions
Iran’s alleged attack, retaliation for an Israeli strike in Damascus, has escalated tensions. Iran’s threats to review its “nuclear doctrine” prompt the US and its allies to counter Iran’s destabilising activities.
International Response
Britain announces sanctions targeting Iranian military organizations, individuals, and entities involved in Iran’s UAV and ballistic missile industries. These measures reflect the international community’s resolve to counter Iran’s aggression.
Commitment to Further Action
US Treasury Secretary Janet Yellen reaffirms the commitment to using economic tools to disrupt Iran’s malign activities, with further actions planned.
Coordination Among Allies
The decision follows discussions among G7 and EU leaders, pledging to coordinate efforts to diminish Iran’s ability to engage in destabilising actions. The escalating sanctions reflect concerns about wider conflict in the Middle East.
