Trump Asks Treasury to Substantially Increase Sanctions on Iran
U.S. President Donald Trump waves after speaking to members of the media on the South Lawn of the White House before boarding Marine One in Washington. (Photographer: Andrew Harrer/Bloomberg)

Trump Asks Treasury to Substantially Increase Sanctions on Iran

(Bloomberg) -- President Donald Trump said Wednesday that he has decided to increase U.S. sanctions on Iran following the weekend attacks on Saudi Arabia’s biggest oil installation.

“I have just instructed the Secretary of the Treasury to substantially increase Sanctions on the country of Iran!” Trump said in a tweet.

There are no further details yet on what exactly will be changing.

The Islamic Republic sent a cable to Washington formally denying any role in the attack. Saudi Arabia is expected to unveil what it says is evidence of Iran’s involvement in the incident, which shook crude markets and slashed output at OPEC’s largest producer. U.S. Secretary of State Michael Pompeo is also due to arrive in the kingdom on Wednesday.

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