US sanctions Iranian drone makers after Israeli attack

The US on Thursday announced new sanctions on Iran targeting the country’s drone manufacturing, as Washington aims to isolate and hurt Tehran following its massive – though largely unsuccessful – attack on Israel last weekend.

The Treasury Department has sanctioned 16 individuals and two entities involved in the production of Iranian drones, including the engines built for the infamous Shahed explosive variant.

The new sanctions also target five companies involved in Iranian steel production and the Iranian car manufacturer Bahman Group, along with three of its subsidiaries. The US accuses them of supporting the military force of Iran’s Islamic Revolutionary Guard Corps.

Treasury Secretary Janet Yellen said in a statement that the US is taking “swift and decisive action to respond to Iran’s unprecedented attack on Israel.”

“We are using Treasury’s economic tools to degrade and disrupt key aspects of Iran’s malign activity, including its [drone] program and the revenue the regime generates to support its terrorism,” she said. “Our actions make it increasingly difficult and costly for Iran to continue its destabilizing behavior.”

The US has sanctioned more than 600 Iranian individuals and entities in the last three years alone.

Earlier this week, the White House signaled that new sanctions were on the way following Iran’s launch of more than 300 missiles and drones against Israel last weekend, an attack that was largely defeated by Israeli and allied defense systems.

President Biden said in a statement Thursday that the new sanctions targeted “the Iranian government’s missile and drone program that enabled this brazen attack.”

“We are committed to acting collectively to increase economic pressure on Iran,” Biden said. “And our allies and partners have issued or will issue additional sanctions and measures to restrict Iran’s destabilizing military programs.”

The sanctions come after the US convened a meeting of the Group of Seven most advanced world economies, shortly after the Iranian attack. The G-7 released a statement condemning the attack and the group promised to be ready to respond.

The measures should also send a signal to Israel that Iran can be targeted in ways other than military force. Israel will have decided to retaliate against Iran for the missile and drone attack, which could further worsen tensions.

The UK also joined the US on Thursday against Iran with sanctions, hitting seven individuals and six entities, including military leaders and people involved in Iranian drone production.

“These sanctions – announced with the US – show that we unequivocally condemn this behavior and will further limit Iran’s ability to destabilize the region,” said British Prime Minister Rishi Sunak. “The Iranian regime’s attack on Israel was a reckless act and a dangerous escalation.”