U.S. Threatens New Sanctions on Entities Aiding Iran

Why it matters locally: Pennsylvania's key industries, including manufacturing and energy, could be indirectly affected by these new federal sanctions if companies with operations in the state have supply chain or financial ties to entities targeted for doing business with Iran.

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WASHINGTON – Sigal Mandelker, the U.S. Treasury Under Secretary for Terrorism and Financial Intelligence, announced the United States' intent to impose additional secondary sanctions on any entity, foreign or domestic, that continues to engage in significant financial transactions with Iran. Mandelker stated the administration seeks to further isolate Iran economically. President Donald Trump has contacted world leaders, urging them to cooperate with the U.S. effort to apply economic pressure on Iran. Mandelker confirmed the President's outreach during her remarks. The U.S. strategy involves targeting industries and financial institutions doing business with Iran. This includes Iran's Central Bank and other state-owned banks. Mandelker indicated that individuals and entities engaged in transactions with these institutions could face sanctions. Bloomberg previously reported that the Treasury Department's actions could extend to foreign companies, including those in China, that conduct business with Iran. This potential expansion of sanctions reflects a broader effort to reduce Iran's oil exports and access to the international financial system. The U.S. administration has characterized its approach as an intensification of economic measures designed to compel changes in Iranian policy.