On April 8, 2024, U.S. Treasury Secretary Janet Yellen attended a press conference at the U.S. Ambassador’s Residence in Beijing.
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U.S. Treasury Secretary Janet Yellen is preparing to impose new sanctions on Iran after the country fired hundreds of drones and missiles at Israel over the weekend.
Speaking ahead of an International Monetary Fund and World Bank meeting, Yellen said, “Treasury will not hesitate to work with our allies to use our sanctions authority to continue disrupting the Iranian regime’s malign and destabilizing activities.” spring meeting this week. “The attacks by Iran and its proxies underscore the importance of Treasury using our economic tools to counter Iran’s malign activities.”
Yellen’s comments come as Israel’s war cabinet considers how to respond to the attack, which Iran launched in retaliation for an Israeli attack on the Iranian consulate in Syria earlier this month. Israel claims to have intercepted 99% of more than 300 warheads from Iran.
The United States has implemented hundreds of sanctions Iran and its proxies have been linked to terrorism and the country’s missile program in recent years. Yellen said she expected new sanctions to be implemented in the coming days.
“We will not be previewing our sanctions tools, but in discussions, I have laid out all options to stop terrorist financing in Iran,” Yellen said.
Yellen said the Treasury Department may take additional steps to prevent Iran from exporting oil despite U.S. sanctions.China has imported more Iranian oil in recent years, allowing Tehran to maintain trade surplus.
Yellen said: “Obviously, Iran is continuing to export some oil. There may be more that we can do. I don’t want to preview our actual sanctions activity, but this is still a focus on one possible area that we can address.”
Yellen said the Treasury Department has an important role to play in deterring Iran, but President Joe Biden and the administration are pursuing a broader diplomatic push.
“From this weekend’s attacks to Houthi attacks in the Red Sea, Iran’s actions threaten the stability of the region and could cause economic spillovers,” Yellen said.
Correction: This article has been updated to correct that Yellen’s remarks came ahead of this week’s spring meetings of the International Monetary Fund and World Bank.
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