Saudi Attack Draws New U.S. Sanctions Against Iran
Added 09-20-19 02:06:02pm EST - “The Trump administration ordered new sanctions on Iran, in response to the attack in Saudi Arabia that temporarily cut off nearly 6% of the world's oil supply. The sanctions' effect may be limited.” - Npr.org
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The Trump administration ordered new economic sanctions against Iran Friday in response to the attack last weekend in Saudi Arabia. The sanctions target Iran's central bank and its sovereign wealth fund.
"This is very big," said Treasury Secretary Steven Mnuchin. "We've now cut off all sources of funds to Iran."
The move comes less than a week after an attack on a Saudi oil facility that temporarily cut off nearly 6% of the world's oil supply. While Houthi rebels in Yemen claimed responsibility for that attack, the administration suspects Iran was behind it.
"It's too bad what's happening with Iran. It's going to hell," President Trump told reporters Friday in announcing the sanctions. "They're practically broke. They are broke. And they could solve the problem very easily. All they have to do is stop with the terror."
The sanctions are designed to sever any remaining ties between Iran and the U.S. financial system. The order from the Treasury Department bars Americans from doing business with Iran's central bank and its National Development Fund.
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