Secretary of the Treasury Steven Mnuchin announced the specific sanctions the U.S. imposed Friday against Iran after a retaliatory attack by the country against American and allied troops.
Mnuchin spoke alongside Secretary of State Mike Pompeo amid increased tensions with Iran. The U.S. killed Iranian Gen. Qasem Soleimani in airstrikes Jan. 2 and Iran retaliated with missile attacks against two bases in Iraq housing U.S. forces.
“First, the President is issuing an executive order authorizing the imposition of additional sanctions against any individual owning, operating, trading with or assisting sectors of the Iranian economy, including construction, manufacturing, textiles and mining,” Mnuchin said.
These will be primary and secondary sanctions, he added.
“As a result of these actions, we will cut off billions of dollars of support to the Iranian regime and we will continue our enforcement of other entities,” according to Mnuchin.
WATCH:
President Donald Trump said that the measures are aimed at “holding the Iranian regime responsible for attacks against the United States” according to a statement Friday.
“The Iranian regime has threatened United States military service members, diplomats, and civilians, as well as the citizens and interests of our allies and partners, through military force and proxy groups,” Trump said.
“These punishing economic sanctions will remain until the Iranian regime changes its behavior. The United States is ready to embrace peace with all who seek it.”
Other sanctions include 17 “specific sanctions” against Iran’s biggest steel and iron manufacturers. The U.S. will also be “taking action against eight senior Iranian officials who advanced the regime’s destabilizing activity,” he noted.
The eight senior Iranian officials were involved in the missile strike Tuesday, Mnuchin said. (RELATED: Trump Offers Iran A Chance For Peace After Country Launches Missiles At US Bases In Iraq)
“Today’s sanctions are part of our commitment to stop the Iranian regime’s global terrorist activities,” he said. “The President has been very clear – we will continue to apply economic sanctions until Iran stops its terrorist activities and commit that it will never have nuclear weapons.”