U.S. to impose new sanctions on Iranian banks

Tensions between Washington and Tehran have been growing since President Donald Trump unilaterally pulled the U.S. out of the nuclear deal with Iran in 2018.

The United States has imposed a new round of sanctions targeting Iran’s financial industry as the Trump administration ramps up pressure on Tehran.

The new measures announced Thursday afternoon by the Department of Treasury targeted 18 major Iranian banks, not previously subject to U.S. restrictions. The actions were largely taken under the sweeping authorities of an executive order signed by President Donald Trump, allowing the U.S. to take aim at any and all institutions within Iran’s already crippled financial sector.

 

“Our sanctions programs will continue until Iran stops its support of terrorist activities and ends its nuclear programs,” Treasury Secretary Steven Mnuchin said in a statement. “Today’s actions will continue to allow for humanitarian transactions to support the Iranian people.”

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