The sanctions build on those previously imposed on Oct. 11 and come in response to Iran's Oct. 1 attack on Israel and to its announced nuclear escalations, the U.S. Department of Treasury said in a statement.

Brent crude, the global benchmark rose as much as 2.8 per cent to $73.86 a barrel on Tuesday, while WTI, its US counterpart, rose as much as 3.1 per cent to $70.23 a barrel. The sanctions are similar to those previously imposed two months ago in response to Iran’s missile attack on military sites in Israel,