The United States has announced new sanctions on individuals and entities associated with Iran's drone program following last weekend's attack on Israel. The sanctions target executives of an engine manufacturer supplying Iran's Shahad-131 drones, companies servicing the engines, and individuals providing drones to Iranian proxy forces in the Middle East.
In addition to the drone-related sanctions, the Treasury Department has also imposed sanctions on five companies linked to Iran's steel industry and three subsidiaries of an Iranian automaker. These measures, coordinated with European allies, aim to disrupt Iran's missile and drone program and isolate the country globally.
President Joe Biden emphasized the US commitment to Israel's security and stated that Iran will be held accountable for its actions. Treasury Secretary Janet Yellen highlighted the use of economic tools to counter Iran's malign activities and warned of further actions in the future.
The recent attack by Iran on Israel involved over 300 missiles and drones, with most of them intercepted. Biden and other world leaders condemned the attack and are working on a diplomatic response, including the imposition of new sanctions.
While urging Israel to exercise restraint, the US has made it clear that it will not engage in offensive military action against Iran. Instead, economic measures are being pursued to punish Tehran for its aggression.
Israel, on the other hand, has not disclosed its response to the attack. The country's war cabinet has been in discussions without announcing any definitive actions.
The US has a history of imposing strict sanctions on Iran to deter human rights abuses and prevent the regime from acquiring nuclear weapons. Treasury Secretary Yellen did not rule out the possibility of sanctioning Iranian oil exports, a move that could impact global oil prices and potentially strain relations with China, a major buyer of Iranian oil.
