US Treasury Department is preparing to impose new sanctions on Iran after Israel attack, Axios reports

(Reuters) – U.S. Treasury Secretary Janet Yellen is preparing to impose new sanctions on Iran in response to its attack on Israel, Axios reported on Tuesday, citing a copy of her remarks.

As Axios reports, Yellen is set to say on Tuesday, “Treasury will not hesitate to work with our allies to use our sanctions authority to disrupt the Iranian regime’s malign and destabilizing activity.” “

“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,” Axios reported.

Yellen had previously said Iran’s actions threatened stability in the Middle East and could cause economic damage, adding that the US would use sanctions and work with allies.

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Andrew Heavens and Jason Neely)

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