The United States Department of the Treasury unveiled a package of additional sanctions on Iran on Thursday, targeting the nation’s petrochemical sector and several high‑ranking officials linked to the Revolutionary Guard.
The measures, which include asset freezes and restrictions on U.S. dollar transactions, aim to curb Tehran’s funding of regional proxy groups and its ongoing nuclear enrichment activities. Treasury Secretary Janet Yellen stated that the sanctions are “a calibrated response to Iran’s continued defiance of international norms.”
In a related development, Canada’s Minister of Trade announced a 15 percent tariff on a range of U.S. manufactured goods, including automobiles, agricultural equipment, and certain consumer electronics. The move follows a series of trade disputes between the two nations over dairy market access and steel subsidies.
Both countries indicated that the policies are subject to review and may be adjusted in response to diplomatic negotiations. Analysts warn that the combined economic pressures could further strain global supply chains and raise energy prices.
The European Union called for “multilateral dialogue” to avoid escalation, while Iran’s foreign ministry condemned the U.S. sanctions as “illegal and unjustified”.