On January 10, President Trump issued a new Executive Order, “Imposing Sanctions with Respect to Additional Sectors of Iran,” while OFAC took action by designating eight Iranian officials, 17 Iranian entities, three China-and-Seychelles-based entities, and a vessel in response to recent military action taken by Iran against U.S. military interests. Specifically, E.O. 13902 imposes penalties on foreign financial institutions that knowingly do business with or on behalf of the designated Iranian entities and individuals. According to the E.O., the purpose of the sanctions is to deny revenue to the government of Iran that may be used to further the development of nuclear weapons.