Fresh sanction powers authorized by President Trump against Iran could squeeze the remaining trade and finance channels keeping the Iranian economy on life support by threatening those companies still doing business with the country. The U.S. on Friday levied more sanctions on Iran in response to ballistic-missile attacks against U.S. bases in the region earlier this week, blacklisting eight senior Iranian officials and some of Iran’s largest metals manufacturers.
Along with new designations against officials and companies, President Trump also signed an executive order that authorizes the U.S. Treasury Department to target the construction, mining, manufacturing and textiles sectors of the Iranian economy. The Treasury Department can now blacklist any individuals or entities operating in these sectors, or anyone assisting them.