Trump signed an executive order he said would curb access that Khamenei and the country have to world financial markets.
Trump says new sanctions targeting Iran's supreme leader and associates are a "strong and proportional response" to Tehran's increasingly provocative actions.
The Treasury Department headed by Mnuchin said that in addition to Khamenei, the USA sanctions also targeted eight senior commanders in the Iranian military and the Islamic Revolutionary Guards Corps. In announcing the new sanctions, he said "I think a lot of restraint has been shown by us, but that doesn't mean we're going to show it in the future". "I know many Iranians living in NY, and they're fantastic people", Trump said in response to a question. We don't even need to be there in that the USA has just become (by far) the largest producer of Energy anywhere in the world!
A senior U.S. State Department official said that the United States is building a coalition with its allies to protect Gulf shipping lanes by having "eyes on all shipping", following the recent attacks on oil tankers.
The Treasury Department, in a news release, said "any foreign financial institution that knowingly facilitates a significant financial transaction for entities designated under this Executive Order could be cut off from the USA financial system". Iran's foreign ministry spokesman Abbas Mousavi said shortly before Trump signed his order.
The move by the Europeans highlights the growing frustration they have with Iran, which has put the onus on them to do more to shield Tehran from the crippling impact of sanctions.
But the Trump administration says its goal is to "bring Iran's oil exports to zero", something Tehran has vowed will never happen.
The president also explained his last-minute decision not to launch retaliatory airstrikes after learning 150 Iranians would be killed in the attack.
Trump imposes sanctions on Iran's supreme leader
While announcing the new sanctions, Trump said the U.S. is a "peace-loving nation" that does not "seek conflict with Iran". Iran has proxy allies in the region, such as the Hezbollah militia in Lebanon and militias in Yemen, Syria and Iraq.
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The world's seventh-largest oil producer previous year, Iran wants to be able to sell its oil freely, without the pressure of US sanctions cutting off many of its usual markets.
Germany argues that the agreement, beyond ensuring that Iran doesn't produce nuclear weapons, also helps keep open lines of communication with Tehran to address other concerns about its behavior in the Middle East.
"We want them to be more desperate", McCaul said on CBS's "Face the Nation" news program.
Iran's Head of the Revolutionary Guard's aerospace division, looks at debris from a downed U.S. drone reportedly recovered within Iran's territorial waters and put on display by the Revolutionary Guard in the capital Tehran on June 21, 2019. Treasury Secretary Steven Mnuchin said the action would "literally" lock up "tens and tens of billions of dollars" of Iranian assets.
Pompeo met Saudi King Salman and Crown Prince Mohammed bin Salman in the Red Sea city of Jeddah and was later due to hold talks in the United Arab Emirates.
The sultanate of Oman, meanwhile, said reports that it had served as a back channel for the United States to Iran in the aftermath of last week's drone shooting were "not true".
Washington has repeatedly imposed sanctions on Tehran since previous year, when the United States withdrew from the 2015 deal to curb Iran's nuclear program in exchange for easing of sanctions.