President Donald Trump said Wednesday he ordered the Treasury Department to “substantially increase” sanctions on Iran.
Trump’s announcement follows strikes Saturday on the world’s largest crude-processing plant and oil field in Saudi Arabia. The U.S. accused Iran of carrying out the attacks.
It was not immediately clear what steps the president directed Treasury Secretary Steven Mnuchin to take. The Treasury Department, White House and State Department did not immediately respond to CNBC’s requests to comment.
