New US Sanctions on Iran

The U.S. President, Donald Trump, has revealed new sanctions against Iran on the back of tanker attacks in the Strait of Hormuz and the downing of an unmanned American drone earlier in June.

According to a statement from the U.S. Department of the Treasury, the Office of Foreign Assets Control (OFAC) took action against eight senior commanders of Navy, Aerospace, and Ground Forces of the Islamic Revolutionary Guards Corps (IRGC).

According to the statement, the order will deny Iran’s leadership access to financial resources and authorizes the targeting of persons appointed to certain official or other positions by the Supreme Leader or the Supreme Leader’s Office.

Moreover, any foreign financial institution that knowingly facilitates a significant financial transaction for entities designated under this Executive Order could be cut off from the U.S. financial system.

The latest round of sanctions increases tensions between the two countries. Reuters cited U.S. Treasury Secretary Steven Mnuchin as saying that the move would lock billions of dollars more in Iranian assets.

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