US announces new sanctions on Iran following its attack on Israel

The United States imposed on Thursday new sanctions on Iran targeting its production of drones following its attack on Israel. 

In response to Iran’s unprecedented attack on Israel on April 13, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting 16 individuals and two entities enabling Iran’s UAV production, including engine types that power Iran’s Shahed variant UAVs, which were used in the attack.

OFAC is also sanctioning three subsidiaries of Iranian automaker Bahman Group, which have continued to materially support the IRGC and other entities designated pursuant to counterterrorism authorities.

In a press release posted by the US Department of the Treasury, Secretary Janet L. Yellen stated: “Today, in coordination with the United Kingdom and in consultation with partners and allies, we are taking swift and decisive action to respond to Iran’s unprecedented attack on Israel."

"We’re using Treasury’s economic tools to degrade and disrupt key aspects of Iran’s malign activity, including its UAV program and the revenue the regime generates to support its terrorism," she affirmed.

She added: “We will continue to deploy our sanctions authority to counter Iran with further actions in the days and weeks ahead [...] Our actions make it harder and costlier at every turn for Iran to continue its destabilizing behavior.”

Concurrent with this action, the United Kingdom is imposing sanctions targeting several Iranian military organizations, individuals, and entities involved in Iran’s UAV and ballistic missile industries.