US and EU to Impose Fresh Sanctions on Iran

Israel’s military displays what it says is an Iranian ballistic missile retrieved from the Dead Sea – Image Ref:(Reuters)

Mavhungunekuvule Mungomeni

(The Post News) – The United States, along with the European Union, has stated that if Iran attacks Israel, new sanctions will be imposed on Iran. Over the weekend, an attack on Israel took place, but fortunately, there were no casualties. The Israel Defense Forces were not pleased with the attack and vowed to retaliate against Iran, despite the G7 leaders urging both sides to avoid further conflict to prevent a regional war.

On Tuesday, US Treasury Secretary Janet Yellen made it clear that more sanctions against Iran are likely on the horizon. She didn’t spill the beans on exactly what those sanctions might entail, but she did share that all options to thwart Iran’s financing of terrorism are being considered.

Yellen hinted that Iran’s oil exports could be a target for these sanctions, as Iran is still managing to sell some oil. The US has been using financial sanctions to isolate Iran and hinder its support for proxy groups and involvement in conflicts like Russia’s actions in Ukraine. Over 500 individuals and entities have already felt the impact of these measures.

US National Security Advisor Jake Sullivan said, “The new sanctions would target Iran, including its missile and drone programs, as well as the Revolutionary Guards and the Iranian defense ministry. We anticipate that our allies and partners will soon be following with their sanctions. These new sanctions and other measures will continue a steady drumbeat of pressure to contain and degrade Iran’s military capacity and effectiveness and confront the full range of its problematic behaviors.”

In a report by Francesca Gillett, it was said that Mr. Borrell, the EU’s chief diplomat, has received requests from some member states to expand sanctions against Iran. To begin the necessary work related to the sanctions, he has announced that he will send a request to the EU’s diplomatic service.

Israeli Foreign Minister Israel Katz welcomed the positive trend towards the adoption of sanctions. However, world leaders have urged restraint in a bid to avoid a major escalation in the Middle East following the latest attack. Iran has indicated that it deems the matter concluded unless Israel retaliates, with Iran’s President Ebrahim Raisi warning that the slightest action against Iran’s interests will be met with a severe, extensive, and painful response.

Russian President Vladimir Putin called for all parties to practice restraint and avoid confrontation that could lead to disastrous consequences for the region.