President Trump told reporters Monday that he signed an Executive Order that will put additional sanctions on Iran.

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The order will deny Iran’s Supreme Leader and others’ access to financial instruments partially as a response to recent attacks on shipping in the Strait of Hormuz and the downing of a U.S. drone in international airspace, but the president said that the sanctions had been in the works for some time.

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In response to a reporter asking if the new sanctions were just about the downed drone, Trump replied “could probably add that into this” but then said, “This was something that was going to happen anyway.”

The financial restrictions are also intended to impede Iran’s progress towards nuclear weapons technology which the Obama-era nuclear deal did little, if anything, to slow.

“We will continue to increase pressure on Tehran,” Trump said. “I can only tell you we cannot ever let Iran have a nuclear weapon.”

Trump was joined by Treasury Secretary Steve Mnuchin and afterward held a press conference [Live Stream].