June 24, 2019 / 4:38 PM / 22 days ago

Mnuchin says Trump order will lock up billions more in Iranian assets

Treasury Secretary Steven Mnuchin answers question from reporters about the United States new sanctions on Iran at the White House in Washington D.C., U.S., June 24, 2019. REUTERS/Carlos Barria

WASHINGTON (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Monday the new executive order signed by President Donald Trump will lock up billions of additional dollars in Iranian assets, squeezing the country further amid escalating tensions with Washington.

Mnuchin said the order was in the works before last week’s downing by Iran of a U.S. military surveillance drone but was in response to that as well as to previous Iranian actions in the Gulf.

Reporting by Steve Holland; Writing by Doina Chiacu; Editing by Chizu Nomiyama

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