(NewsNation) — The Trump Administration announced new sanctions Thursday targeting Iran’s auto and rail sectors, along with foreign companies that supply them.
The Treasury Department said the measures target major Iranian automaker Iran Khodro and SAIPA, which account for more than 90% of Iran’s domestic auto market, as well as several rail companies. The sanctions also target suppliers in Indonesia, the United Arab Emirates, and Turkey.
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“This action is part of the U.S. government’s broader strategy to deny the Iranian regime the resources it needs to threaten regional stability, sponsor terrorism and advance its military ambitions,” the state department said.
Fighting escalates between Saudi Arabia and Iran-aligned Houthis
The escalation comes as fighting between Saudi Arabia and the Iran-aligned Houthis intensifies in Yemen’s Taiz province, marking the most serious clash since a 2022 U.N.-brokered truce.
Iran’s currency drops to record low as war destroys economy
Warplanes carried out 20 strikes on Houthi targets in a three-hour period, according to Yemen’s internationally recognized government, as authorities closed about 19 roads into the province.
Saudi Arabia also accused the Houthis of attacking a power station supplying Medina’s Prophet’s Mosque, an accusation the Houthis denied.
Reuters contributed to this story.
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