When Treasury--I mean, in this specific case, when the sanctions went into effect, there was a 45-day wind down period to allow U.S. businesses to conclude dealings and prevent undue or immediate harm to them.
Yellen explains the process to mitigate harm to U.S. businesses from sanctions.
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President Biden has said he would oppose allowing tax cuts to expire for people making under $400,000.
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The U.S. is prepared to use sanctions and other tools at their disposal to try to disrupt Iran's destabilizing activity in the region.
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