Biden announces sanctions on Iran drones, steel — without hitting lucrative oil income

President Biden announced sanctions against Iranian steel and drone companies as well as 16 individuals Thursday in response to last weekend’s aerial attack by Tehran against Israel — after years of similar Iranian drones pummeling Ukraine and without clamping down on Iran’s lucrative oil exports.

Leading Republicans and Democrats in Congress have asked Biden to consider going after Iranian petroleum revenue in response to Tehran’s support of Hamas terrorists in the Gaza Strip, but the latest announcement does not address the country’s top export, on which Biden previously eased sanctions.

Higher US gas prices could undermine Biden’s bid for a second term in November.

“Less than a week ago, Iran launched one of the largest missile and drone attacks the world has ever seen against Israel,” the president, 81, said in a statement. “Together with our allies and partners, the United States defended Israel. We helped defeat this attack. And today, we are holding Iran accountable—imposing new sanctions and export controls on Iran.”

Biden said that the new sanctions “target leaders and entities connected to the Islamic Revolutionary Guard Corps, Iran’s Defense Ministry, and the Iranian government’s missile and drone program that enabled this brazen assault.”