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Trump announces new sanctions on Iran after Saudi oil attack

The United States is imposing on Iran's national bank, U.S. told reporters at the White House on Friday. Trump did not give any other details about the sanctions. U.S. Treasury Secretary said the bank was Tehran's last source of funds.

U.S. Donald Trump says his administration is imposing additional sanctions on Iran following last weekend's attack on Saudi oil facilities, which the administration has blamed on the Islamic Republic.

Speaking in the Oval Office Friday during a meeting with Australian Prime Minister Scott Morrison, Trump said: "We have just sanctioned the Iranian national bank."

Iran denies being involved in the attack. The attacks and recriminations are increasing fears of an escalation in the region.

The U.S. has already applied an arsenal of on Iran since the administration withdrew in November from the 2015 nuclear deal.

Still, Treasury Secretary Steven Mnuchin says the latest sanctions demonstrate the U.S. is continuing a maximum pressure campaign, asserting "we have now cut off all funds to Iran."

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