The U.S. on Thursday announced new sanctions on Iran targeting the country’s drone manufacturing as Washington aims to isolate and hurt Tehran following its massive — though largely unsuccessful — attack on Israel last weekend.
The Treasury Department sanctioned 16 individuals and two entities involved with the production of Iranian drones, including the engines built for the infamous explosive Shahed variant.
The new sanctions also target five companies involved in Iran’s steel production and Iranian automaker Bahman Group along, with three of its subsidiaries. The U.S. accuses them of supporting Iran’s Islamic Revolutionary Guard Corps military force.
Treasury Secretary Janet Yellen said in a statement that the U.S. is taking “swift and decisive action to respond to Iran’s unprecedented attack on Israel.”
“We’re using Treasury’s economic tools to degrade and disrupt key aspects of Iran’s malign activity, including its [drone] program and the revenue the regime generates to support its terrorism,” she said. “Our actions make it harder and costlier at every turn for Iran to continue its destabilizing behavior.”
The U.S. has sanctioned more than 600 Iranian individuals and entities in the past three years alone.
Earlier this week, the White House signaled that new sanctions were on the way following Iran’s launching of more than 300 missiles and drones on Israel last weekend, an attack that was largely defeated by Israeli and allied defense systems.
President Biden said in a statement Thursday that the new sanctions hit the “Iranian government’s missile and drone program that enabled this brazen assault.”
“We are committed to acting collectively to increase economic pressure on Iran,” Biden said. “And our allies and partners have or will issue additional sanctions and measures to restrict Iran’s destabilizing military programs.”
The sanctions come after the U.S. called a meeting of the Group of Seven most advanced world economies shortly after the Iranian attack. The G-7 released a statement condemning the attack and the group vowed it stood ready to respond.
The measures are also likely to send a signal to Israel that Iran can be targeted in other ways besides military force. Israel has reportedly decided to retaliate against Iran for the missile and drone attack, which could escalate tensions further.
The U.K. also joined the U.S. in targeting Iran with sanctions Thursday, hitting seven individuals and six entities, including military leaders and those involved with Iranian drone production.
“These sanctions — announced with the US — show we unequivocally condemn this behavior, and they will further limit Iran’s ability to destabilize the region,” said British Prime Minister Rishi Sunak. “The Iranian regime’s attack against Israel was a reckless act and a dangerous escalation.”
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