US, Gulf nations sanction Iran-linked entities over support for Hezbollah

The United States and six gulf nations have agreed to sanction business and individuals they say support Iran’s Revolutionary Guard and Hezbollah. 

The action to target the network of corporations, banks and individuals was done by the Terrorist Financing Targeting Center (TFTC) countries, which include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. 

Treasury Secretary Steven MnuchinSteven Terner MnuchinUS, Gulf nations sanction Iran-linked entities over support for Hezbollah The Hill’s Morning Report – Presented by Better Medicare Alliance – Dems unveil impeachment measure; Vindman splits GOP On The Money: Fed faces crossroads as it weighs third rate cut | Dem presses Mnuchin on ‘alleged rampant corruption’ | Boeing chief faces anger at hearing | Trouble for House deal on Ex-Im Bank MORE said in a Wednesday statement that the move “demonstrates the unified position of the Gulf nations and the United States that Iran will not be allowed to escalate its malign activity in the region.”

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“We are proud to join forces with our TFTC partners to expose and condemn the Iranian regime’s gross and repeated violations of international norms, from attacking critical oil infrastructure in Saudi Arabia to fomenting strife in neighboring countries through regional proxies such as Hizballah,” he added. “This coordinated action is a concrete step towards denying the Iranian regime the ability to undermine the stability of the region.”

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Reuters reported that Mnuchin was in the Middle East to work on an economic development plan for Palestine, Jordan, Egypt and Lebanon.

The always strained U.S.-Iran relationship has only grown more fraught since President TrumpDonald John TrumpTrump congratulates Washington Nationals on World Series win Trump hints that dog injured in al-Baghdadi raid will visit White House Vindman says White House lawyer moved Ukraine call to classified server: report MORE pulled the U.S. out of the Obama-era nuclear deal and reimplemented sanctions on Tehran. 

Earlier this year, tensions increased further after the U.S. designated the Revolutionary Guard a terrorist organization and Iran shot down a U.S. drone, nearly prompting a military response from Trump. 

The U.S. and Saudi Arabia have also blamed Iran for attacks on Saudi oil facilities, although Iran has denied involvement.