U.S. announces sanctions over Iran’s drone program after Israeli attack | Wilnesh News

The Biden administration announced new plans Thursday sanctions Drone program in response to Iran’s recent attacks on Israel.

The sanctions target 16 individuals and two entities involved in Tehran’s drone production. Companies involved in the country’s steel industry and supplying vehicles to the Iranian military have also been targeted.

“Today, in coordination with the United Kingdom and in consultation with partners and allies, we took swift and decisive action to respond to Iran’s unprecedented attack on Israel,” U.S. Treasury Secretary Janet Yellen said in a statement.

Yellen added: “We are using Treasury’s economic tools to undermine and disrupt key aspects of Iran’s malign activity, including its (drone) program and the revenue the regime generates to support terrorism.”

The move comes as Israel considers how to respond to last weekend’s attack, which Iran launched in retaliation for an Israeli attack on the Iranian consulate in Syria earlier this month.

Executives at an Iranian company that made the engine used in the attack were also among the individuals sanctioned. Several members of Iran’s Islamic Revolutionary Guard Corps’ Quds Force have also been targeted for their role in drone testing and development.

All assets of sanctioned individuals in the United States will be frozen. Entities in which individuals own at least 50% of the shares will also be blocked.

Five companies that supply materials to Khuzestan Steel, one of Iran’s largest steel producers, were also sanctioned. KSC has previously been targeted for sanctions and has sales worth billions of dollars income to the Iranian government.

“Let it be clear to all those who support or support Iran’s attacks: The United States is committed to the security of Israel. We are committed to the security of our personnel and partners in the region. We will not hesitate to take any action necessary to ensure that Israel safety.