The order said the White House has instructed the Departments of Treasury and State to issue rules and regulations needed to impose these sanctions, under the authority of the International Emergency Economic Powers Act (IEEPA).

"All executive agencies of the United States Government are directed to take all appropriate measures within their authority to carry out the provisions of the order," the White House said.

The order will likely be seen by House Republicans and Democrats as an attempt to head off congressional efforts to tighten Iran sanction further through legislation. Members of both parties introduced a bill in mid-May that would eliminate what they see as loopholes to the imposition of sanctions under ISA and last year's Comprehensive Iran Sanctions Accountability and Divestment Act.