"U.S. Considers New Sanctions on Iran Following Israel Attack"

The Biden administration is unlikely to significantly increase sanctions on Iran's oil exports despite pressure from House Republicans following Iran's missile and drone strike on Israel, as doing so could raise oil prices, anger China, and escalate regional tensions. Enforcing existing sanctions has proven challenging, and the administration is wary of taking actions that could impact gasoline prices, especially during an election year. Aggressively enforcing sanctions could also strain U.S.-China relations, as China is the biggest buyer of Iranian oil.