The United States, reacting to the shooting down of a U.S. unmanned aerial vehicle last week , launched two sanctions-related salvos against Iran on June 24. It layered sanctions on top of those already targeting commanders in Iran's Islamic Revolutionary Guard Corps (IRGC), which are unlikely to have more than a limited effect on the Iranian economy. The second set of sanctions, targeting Iranian Supreme Leader Ayatollah Ali Khamenei and his appointees, could bite much deeper than typical sanctions issued by the United States by hampering Iran's engagement with the world and damaging its economy. An Executive Order Lays the Groundwork An executive order signed by U.S. President Donald Trump freezes all property subject to U.S. jurisdiction that is held by Iran's supreme leader or the supreme leader's office.