Mnuchin: ‘We Will Continue to Apply Economic Sanctions Until Iran Stops Its Terrorist Activities’

By Melanie Arter | January 10, 2020 | 2:19pm EST
(Photo by NICHOLAS KAMM/AFP via Getty Images)
(Photo by NICHOLAS KAMM/AFP via Getty Images)

( – Treasury Secretary Steven Mnuchin announced on Friday that the U.S. is imposing additional economic sanctions against Iran in retaliation for Tuesday’s missile strikes on U.S. and coalition forces in Iraq.

Speaking at a White House press conference alongside Secretary of State Mike Pompeo, Mnuchin said President Donald Trump “is issuing an executive order authorizing the imposition of additional sanctions against any individual owning, operating, trading, with or assisting sectors of the Iranian economy, including construction, manufacturing, textiles and mining.”

The executive order also allows Mnuchin and Pompeo to designate other sectors for sanctions in the future.

“Second, we are announcing 17 specific sanctions against Iran’s largest steel and iron manufacturers, set three Seychelles-based entities and a vessel involved in the transfer of products,” the secretary said.

“As a result of these actions, we will cut off billions of dollars of support to the Iranian regime, and we will continue our enforcement of other entities. Third, we are taking action against eight senior Iranian officials who advanced the regime’s destabilizing activity and were involved in Tuesday’s ballistic missile strike,” he said.

“Treasury’s action includes the designations of Ali Shamkhani, the Secretary of Iran’s Supreme National Security Council; Mohammad Reza Ashtiani, the Deputy Chief of Staff of Iranian armed forces; and Gholamreza Soleimani, the head of the Basij militia of the Islamic Revolutionary Guards Corps (IRGC),” the Treasury Department noted in a press release.

Mnuchin said the sanctions are part of the administration’s “commitment to stop the Iranian regime’s global terrorist activities.”

“The president has been very clear. We will continue to apply economic sanctions unitl Iran stops its terrorist activities and commit that it will never have nuclear weapons,” he added.


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