U.S. Treasury chief signals imminent sanctions against Iran

Janet Yellen

17th April 2024 – (Hong Kong) U.S. Secretary of the Treasury Janet Yellen announced on Tuesday that the United States is poised to implement new sanctions against Iran shortly. The declaration was made during a press briefing leading up to this year’s International Monetary Fund and World Bank Spring Meetings.

The anticipated sanctions follow a recent surge in hostilities, marked by Iran’s missile and drone assault on Israel, escalating the conflict in the Middle East. According to Yellen, this escalation has not only intensified regional tensions but also triggered adverse economic repercussions for several nations within the vicinity.

While specifics of the forthcoming sanctions were not disclosed, Yellen emphasized that these measures would be coordinated with allied nations, ensuring a unified international response. This approach highlights the ongoing collaborative efforts among global powers to address challenges posed by Iran’s actions.

Further insights into the coordinated strategy came on Sunday when a senior official from the Biden administration shared details from a Group of Seven (G7) video-conference. The discussion reportedly centred around aligning on sanction measures against Iran and addressing persistent challenges in enforcing the G7’s policy towards the country.