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US government sanctions 18 Iranian banks New sanctions imposed by the US Treasury Department aim to deny the Iranian government funding. Iran says the move will hurt its ability to pay for medicine and food. Treasury Secretary Steve Mnuchin speaks at a news conference during the announcement of the Trump administration's restoration of sanctions on Iran, on Sept. 21, 2020, at the US State Department in Washington, DC. Photo by PATRICK SEMANSKY/POOL/AFP via Getty Images.