After the attack on Israel, the United States prepares new sanctions that will impact Iran’s missile and drone development

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US and EU to Impose Sanctions on Iran for Attack on Israel

Janet Yellen, the US Secretary of the Treasury, announced on Tuesday that the United States and its allies will be imposing sanctions on Iran in the coming days as a response to the recent attack on Israel. The announcement was made during a press conference held on the sidelines of the spring meetings of the International Monetary Fund (IMF) and the World Bank (WB) in Washington.

According to US National Security Advisor Jake Sullivan, the sanctions will target Iran’s missile and drone program, as well as entities that support the Islamic Revolutionary Guard Corps and the Ministry of Defense. Yellen mentioned that “all options to interrupt Iran’s terrorist financing” are on the table.

Meanwhile, the European Union (EU) has also announced plans to expand sanctions on Iran in response to the attack on Israel. EU foreign policy chief Josep Borrell stated that the bloc would be working on tightening measures against Iran’s weapons supplies to Russia and Tehran’s proxies in the Middle East.

Despite efforts to enforce sanctions on Iran’s oil sector, the country has been able to evade restrictions with China being one of its main customers. The G7 is reportedly considering imposing additional sanctions on Iran and designating the Iranian Revolutionary Guard as a terrorist group.

As tensions continue to rise, Western countries have urged Israel to show restraint and avoid escalating the situation further. The possibility of a full-scale war in the Middle East is a major concern for global leaders attending the spring meetings of the WB and IMF this week in Washington.

The G20 and G24 finance ministers are also set to meet during the events, with Iran being a member of the latter. The situation remains fluid as international pressure mounts on Iran to halt its destabilizing actions in the region.