UPDATE 2 - Trump Orders 'Substantial' Increase In Anti-Iran Sanctions, Details To Come In 48 Hours

Faizan Hashmi Published September 18, 2019 | 11:20 PM

WASHINGTON (UrduPoint News / Sputnik - 18th September, 2019) US President Donald Trump said on Wednesday that he has instructed his administration to ratchet up sanctions on Iran and later said he would issue details within the next two days.

"I have just instructed the Secretary of the Treasury to substantially increase Sanctions on the country of Iran!" Trump said via Twitter.

The sanctions appear to be part of Trump's response to Iran's alleged involvement in the weekend attacks on Saudi oil facilities.

In later remarks, Trump told reporters he will provide details on the sanctions within 48 hours.

On Saturday, Saudi Aramco had to close two of its compounds, the Abqaiq and Khurais facilities, after they were hit by drones and caught fire.

The incident led to a cut in oil production totaling 5.7 million barrels per day - about half of Saudi Arabia's daily oil output. The closure of oil facilities triggered a surge of oil prices worldwide.

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Tuesday that oil production had returned to the previous levels.

US officials including Trump have accused Iran of being responsible for Saturday's attacks. Tehran has strongly denied the accusations. The Houthis, a Yemeni militia group against which Riyadh and its allies have waged a four year war, claimed responsibility and promised more attacks.