Trump slaps ‘hard-hitting’ sanctions on Iran

U.S. President Donald Trump signs an executive order imposing "hard-hitting" new sanctions on Iran in response to the downing of an unmanned U.S. drone last week.

"We will continue to increase pressure on Tehran until the regime abandons its dangerous activities,” including its nuclear ambitions, Trump said yesterday in the Oval Office. "We do not seek conflict with Iran or any other country," CNBC cited him as saying.

"I can only tell you we cannot ever let Iran have a nuclear weapon," the U.S. leader added.

The new sanctions deny Iran Supreme Leader Ayatollah Ali Khamenei and his office access to key financial resources, according to NBC News. In addition, the U.S. is sanctioning specific military leaders who were responsible for shooting down the drone, Treasury Secretary Steven Mnuchin said.

Mnuchin added that Iranian Foreign Minister Mohammad Javad Zarif would be targeted with U.S. sanctions later this week.