US to impose 'punishing economic sanctions' against Iran over recent attacks on US bases

President Donald Trump on Wednesday said that the US will impose "additional punishing economic sanctions" against Iran in the wake of the country's recent attacks on American bases in Iraq.

"As we continue to evaluate options in response to Iranian aggression, the US will immediately impose the additional punishing economic sanctions on the Iranian regime. These powerful sanctions will remain until Iran changes its behaviour," the President said in an address to the nation.

Iran fired a number of missiles at two Iraqi bases housing US troops Wednesday local time in retaliation for the American strike that killed military general Qasem Soleimani last week in a Pentagon-ordered airstrike near Baghdad International Airport.

In the immediate aftermath of Soleimani's killing, Trump repeatedly stressed that the deadly drone strike was meant to reduce violence.

In his address to the nation today, the President noted, "Iran's hostility substantially increased after the foolish Iran nuclear deal was signed in 2013 and they were given USD 150 billion. Instead of saying thank you to the US, they chanted death to America."

"The JCPOA, also known as the Iran nuclear deal (2015) expires shortly anyway and gives Iran a clear and quick path to nuclear break-up. Iran must abandon its nuclear ambitions and its support for terrorism," he added.

Trump also urged China, the United Kingdom, France and Russia to "realise this reality."

"They must now break away from the reminiscence of the Iran deal," he stressed further.

"We must all work together towards making a deal with Iran that makes a world a safer and more peaceful place. We must also make a deal that allows Iran to thrive and prosper and take advantage of its untapped potential. Iran can be a great country. Peace and stability cannot continue in the Middle East as long as Iran continues to formant violence, unrest and hatred," he said.

After the strikes Tuesday evening, Trump met in the Situation Room at the White House with members of his national security team including Vice President Mike Pence, Secretary of State Mike Pompeo, Defence Secretary Mark Esper, Joint Chiefs chairman Mark Milley, acting chief of staff Mick Mulvaney, National Security Adviser Robert O'Brien, acting Director of National Intelligence Joseph Maguire, and press secretary Stephanie Grisham, CNN reported.

Soleimani's death marked a dramatic escalation in tensions between the US and Iran that has often been high since Trump, in 2018, chose to unilaterally withdraw Washington from the 2015 nuclear pact the world powers had struck with Tehran.