Trump sanctions Iranian National Bank in wake of strikes on Saudi oil facilities

  • President Donald Trump on Friday said he has ordered sanctions on Iran's national bank at "the highest level."
  • The president made the remarks to reporters in the Oval Office, where he and Australian Prime Minister Scott Morrison were scheduled to hold a bilateral meeting.
  • Trump did not immediately elaborate on the sanctions.

President Donald Trump on Friday said he has ordered sanctions on Iran's national bank at "the highest level."

The president made the remarks to reporters in the Oval Office, where he and Australian Prime Minister Scott Morrison were scheduled to hold a bilateral meeting.

Trump did not immediately elaborate on the sanctions. The White House declined CNBC's request for additional comment. The Treasury Department did not immediately provide a comment.

The president's remarks at the White House came two days after he announced via Twitter that he had instructed Treasury Secretary Steven Mnuchin "to substantially increase Sanctions on the country of Iran!"

U.S. officials, including Secretary of State Mike Pompeo, have accused Iran of orchestrating devastating strikes on Saudi oil installations over the weekend. Iran denies it is behind the attacks.

The Pentagon on Thursday called the attacks a "dramatic escalation" of tensions in the region.

This is breaking news. Please check back for updates.

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