US Treasury preparing new Iran sanctions, Axios reports

US Treasury Secretary Janet Yellen is preparing fresh sanctions on Iran in response to Iran’s retaliatory strike on Israel, Reuters reported Axios saying today, citing a copy of her remarks.

“Treasury will not hesitate to work with our allies to use our sanctions authority to continue disrupting the Iranian regime’s malign and destabilising activity,” Yellen is prepared to say today, as per the Axios report.

“The attack by Iran and its proxies underscores the importance of Treasury’s work to use our economic tools to counter Iran’s malign activity,” she will further say, Axios reported.

Yellen said previously that Iran’s actions threatened stability in the Middle East and could cause economic spillovers.

Late on Saturday night the Islamic Republic launched hundreds of drones and missiles towards Israel in retaliation for Tel Aviv’s air strike on its consulate in the Syrian capital Damascus in which several senior officials were killed. Most of the drones and missiles were intercepted by the US, UK, France and Jordan before reaching Israel.

READ: Israel pushing for more sanctions against Iran