White House

Trump Announces ‘Highest Level’ of New Sanctions on Iranian National Bank

The Iranian flag flies at the International Atomic Energy Agency in Vienna, Austria. (Leonhard Foeger/Reuters)

President Trump announced Friday that his administration has placed harsh sanctions on Iran’s national bank.

“We have just sanctioned the Iranian National Bank — that is their central banking system — and it’s going to be at the highest level of sanctions,” Trump told reporters from the Oval Office.

The announcement comes two days after Trump said he had instructed Secretary of the Treasury Steve Mnuchin to “substantially increase” sanctions on Iran following several attacks on Saudi Arabian oil facilities that the U.S. attributed to the Islamic republic.

The attacks, a series of coordinated strikes that hit Saudi oil facilites last Saturday, cut the country’s oil production, which accounts for 5 percent of the world’s daily supply, in half. Secretary of State Mike Pompeo blamed Iran for what he called “an act of war,” though Yemen’s Houthi rebels claimed they carried out the attacks. The Saudi government said Iran “sponsored” the attacks. Iran has denied responsibility.

The president said Sunday that the U.S. is “locked and loaded,” ready to respond to the attacks, but said Washington is still working to positively identify the culprit. On Thursday, Iran’s foreign minister warned of an “all-out war” should the U.S. launch a military strike.

Most Popular

White House

More Evidence the Guardrails Are Gone

At the end of last month, just as the news of the Ukraine scandal started dominating the news cycle, I argued that we're seeing evidence that the guardrails that staff had placed around Donald Trump's worst instincts were in the process of breaking down. When Trump's staff was at its best, it was possible to draw ... Read More
Politics & Policy

Elizabeth Warren Is Not Honest

If you want to run for office, political consultants will hammer away at one point: Tell stories. People respond to stories. We’ve been a story-telling species since our fur-clad ancestors gathered around campfires. Don’t cite statistics. No one can remember statistics. Make it human. Make it relatable. ... Read More
National Review


Today is my last day at National Review. It's an incredibly bittersweet moment. While I've only worked full-time since May, 2015, I've contributed posts and pieces for over fifteen years. NR was the first national platform to publish my work, and now -- thousands of posts and more than a million words later -- I ... Read More
Economy & Business

Andrew Yang, Snake Oil Salesman

Andrew Yang, the tech entrepreneur and gadfly, has definitely cleared the bar for a successful cause candidate. Not only has he exceeded expectations for his polling and fundraising, not only has he developed a cult following, not only has he got people talking about his signature idea, the universal basic ... Read More

Is America Becoming Sinicized?

A little over 40 years ago, Chinese Communist strongman and reformer Deng Xiaoping began 15 years of sweeping economic reforms. They were designed to end the disastrous, even murderous planned economy of Mao Zedong, who died in 1976. The results of Deng’s revolution astonished the world. In four decades, ... Read More