Commodity

US will impose new sanctions targeting Iran's missile and drone program

FXStreet

Updated Apr 17, 2024 24:08

Reviewed by

Mitrade

National Security Advisor Jake Sullivan said in a statement late Tuesday that new sanctions targeting Iran and sanctions against entities supporting the Islamic Revolutionary Guard Corps and Iran's Defense Ministry will be imposed in the coming days. It is expected that US allies and partners will soon follow with their sanctions, according to the statement.

Sullivan further stated that 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.

Market reaction

Gold price attracts some buyers following the renewed tension between Israel and Iran. XAU/USD was trading 0.08% higher on the day at $2,384, as of writing.

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