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Breaking: U.S. Announces New Sanctions on Iran

Published 01/11/2020, 12:03 AM
Updated 01/11/2020, 12:05 AM
© Reuters.
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Investing.com - The United States announced new sanctions on Iran Friday, as expected, in response to Iran’s missile attacks earlier in the week. The sanctions will focus on metals and mining producers, construction and other areas of the economy.

  • Action will be taken against eight senior Iranian regine officials “who have advanced the regime’s destabilizing objectives, as as well as the largest steel, aluminum, copper, and iron manufacturers in Iran, who collectively generate billions of dollars annually,” the U.S. Treasury said in a statement.

  • President Donald Trump is also signing a new executive order that targets sources of revenue used by Iran to support its nuclear program.

  • “The United States is targeting senior Iranian officials for their involvement and complicity in Tuesday’s ballistic missile strikes,” Treasury Secretary Steve Mnuchin said in the statement. “We are also designating Iran’s largest metals manufacturers, and imposing sanctions on new sector s of the Iranian economy including construction, manufacturing, and mining.”

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