The US and UK imposed new sanctions on Iran, targeting individuals and companies involved in drone production after it used such aircraft to launch a large attack on Israel over the weekend.
The US Treasury’s Office of Foreign Assets Control (OFAC) has also sanctioned five companies associated with the production of steel as well as three sub-groups of Iran’s automaker Bahman Group, which allegedly supplies vehicles the Iranian military and its allies. President Joe Biden announced he ordered the Treasury to “continue to impose sanctions that further degrade Iran’s military industries.”
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Meanwhile, the UK is sanctioning multiple organizations and individuals involved in the production and trade of Iranian drones and ballistic missiles.
The US Commerce Department announced a series of restrictions on the selling commercial microelectronics—including anything made by foreign companies that use US tech—to Iran. All of these sanctions are justified on the grounds that they will prevent Iran from carrying out more attacks in the future.
As Valuetainment previously reported, Iran launched a swarm of suicide drones, followed by a barrage of missiles, towards Israel in retaliation for a bombing at the Iranian embassy in Syria that eliminated several high-profile members of Iran’s military.
Additionally, the Israeli military chief, Lieutenant General Herzi Halevi, said the drone and missile attack conducted by Iran over the weekend “will be met with a response” from Israel, but did not provide details on when or in what capacity. Previously, Biden and other Western leaders had been urging Israel to accept the counteroffensive success and refrain from responding to Iran with force.
Watch Patrick Bet-David discuss the sanctions on Iran below:
Shane Devine is a writer covering politics and business for VT and a regular guest on The Unusual Suspects. Follow Shane’s work here.
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