US and UK issue new sanctions on Iran in response to Tehran’s weekend attack on Israel

“We will continue to deploy our sanctions authority to counter Iran with further actions in the days and weeks ahead,” Treasury Secretary Janet Yellen said in a statement.

The action comes after US officials earlier this week warned that they were readying new sanctions in response to Iran’s activity in the region and to prevent future attacks. Lawmakers on Capitol Hill also have been quickly pushing forward legislation that would financially punish the Islamic Republic and its leaders.

Iran’s attack on Israel early Sunday came in response to what it says was an Israeli strike on Iran’s consulate in Syria earlier this month. Israel’s military chief said Monday that his country will respond to the Iranian attack, while world leaders caution against retaliation, trying to avoid a spiral of violence.

European Union leaders also vowed on Wednesday to ramp up sanctions on Iran, targeting its drone and missile deliveries to proxies in Gaza, Yemen and Lebanon.

EU foreign policy chief Josep Borrell said the existing EU sanctions regime would be strengthened and expanded to punish Tehran and help prevent future attacks on Israel. At the same time, he said, Israel needed to exercise restraint.

“I don’t want to exaggerate, but we are on the edge of a war, a regional war in the Middle East, which will be sending shockwaves to the rest of the world, and in particular to Europe,” he warned. “So stop it.”