US action on Iran hurt the country which earns the most money.
The US has once again increased sanctions on Iran. The new sanctions have been imposed in response to Iran's missile attack on Israel. The aim of this move is to make it more difficult for Iran to export oil, which is by far the biggest source of foreign reserves for the country's ailing economy.
Announcing the new sanctions, the Treasury's Office of Foreign Assets Control (OFAC) said, "The new sanctions are in response to Iran's attack on Israel on October 1, which is Iran's second direct attack on Israel this year."
What is the aim of the sanctions?
US Treasury Secretary Janet Yellen said in a statement on Friday, "Today's sanctions are aimed at stopping Iran's energy industry from supporting its wrongful and destructive activities, including the development of its nuclear program, the production of ballistic missiles and drones, and support for regional terrorist proxies."
The Treasury statement said that the new sanctions target 10 entities and 17 ships involved in shipping Iran's banned oil and petrochemical products. Apart from this, the US State Department has also imposed sanctions on six entities and six ships involved in the transportation and sale of Iranian oil.
Is Iran attacking Israel?
On October 1, Iran fired more than 180 missiles at Israel. Iran said that it carried out this attack in retaliation for the killings of its own and proxy leaders. Iran had earlier carried out a similar attack on Israel in April, but this attack has increased the danger in the region even more. IRGC has claimed that its attack was 90 percent successful and it has destroyed 20 fighter planes of the Israeli army. At the same time, Israel has repeatedly talked about taking revenge for this attack.