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....