Treasury Department plans to impose new sanctions on Iran after Israel attack

• U.S. Treasury Secretary Janet Yellen is preparing new sanctions on Iran after the country launched hundreds of drones and missiles at Israel.
• Yellen's comments come as Israel's war cabinet is weighing how to respond to the attack in retaliation for an Israeli strike on an Iranian consulate in Syria.
• The U.S. has imposed hundreds of sanctions on Iran and its proxies in recent years for their connections to terrorism and its missile program.

Treasury Secretary Janet Yellen said Tuesday that the U.S. is preparing new sanctions on Iran after the country launched hundreds of drones and missiles at Israel over the weekend.

"Treasury will not hesitate to work with our allies to use our sanctions authority to continue disrupting the Iranian regime's malign and destabilizing activity," Yellen said in remarks ahead of the International Monetary Fund and World Bank's Spring Meetings this week. "The attack by Iran and its proxies underscores the importance of Treasury's work to use our economic tools to counter Iran's malign activity."

Yellen's comments come as Israel's war cabinet is weighing how to respond to the attack, which Iran launched in retaliation for an Israeli strike on an Iranian consulate in Syria earlier this month. Israel said it intercepted 99% of the more than 300 projectiles from Iran that came in on Saturday.

The U.S. has imposed sanctions on Iran and its proxies in recent years for their connections to terrorism and for the country's missile program. Yellen said that she expects the new sanctions to be taken in the coming days.

"We don't preview our sanctions tools, but in discussions I've had all options to disrupt terrorist financing of Iran continue to be on the table," Yellen said.

Yellen said that the