Yellen says US set to tighten sanctions on Iran soon

Washington, United States – AFP

US Treasury Secretary Janet Yellen warned Tuesday of further sanctions targeting Iran following its unprecedented attack on Israel over the weekend, saying she expects Washington will take added action “in the coming days.”

“I fully expect that we will take additional sanctions action against Iran in the coming days,” she said as this week’s spring meetings of the International Monetary Fund and World Bank began in Washington.

The Treasury, Yellen said, will not hesitate to work with US allies to “use our sanctions authority to continue disrupting the Iranian regime’s malign and destabilizing activity.”

Israel’s six-month war on Gaza has triggered violence in the region involving Iranian proxies and allies who say they act in support of Palestinians in the Gaza Strip.

But tensions have soared even higher with Tehran’s first direct assault on Israel, in retaliation for a deadly April 1 strike on Iran’s consulate in Damascus.

The attack has prompted appeals for de-escalation by world leaders fearing wider conflict.

Yellen told a press briefing that US authorities have been using economic tools to counter Iran’s activity, taking aim at its drone and missile programs, as well as its financing of groups like Hamas.

“From this weekend’s attack to the Houthi attacks in the Red Sea, Iran’s actions threaten the region’s stability and could cause economic spillovers,” she warned.

She stopped short of sharing details on possible sanctions while noting that Washington has been working to diminish Iran’s ability to export oil and there might be “more that we could do.”