In a report posted on X, the Iranian Tasnim state news agency affiliated with the Islamic Revolutionary Guard Corps (IGRC) said paramilitary Revolutionary Guard commandos seized a cargo ship near the Strait of Hormuz.

The detained ship, named "MSC Aries," operates under the flag of Portugal and is connected to the London-based company called Zodiac Maritime which is partially owned by Israeli billionaire Eyal Ofer.

“MSC is the manager and commercial operator of the container vessel MSC Aries. MSC is responsible for all vessel activities including cargo operations and maintenance," Zodiac Maritime said in a statement to ABC News on Saturday. "Title to the vessel is held by Gortal Shipping Inc. as financier and she has been leased to MSC on a long term basis. Gortal Shipping Inc. is affiliated with Zodiac Maritime. MSC is also responsible for the vessel’s itinerary, schedule and crew onboard and any queries about the vessel should be directed to MSC”.

Further details regarding the seized vessel are expected to be released shortly.

"We regret to confirm that MSC Aries owned by Zodiac Maritime and chartered to MSC has been boarded by Iranian authorities via helicopter as she passed the Strait of Hormuz," MSC said in a statement. "She has since been diverted from her itinerary towards Iran. She has 25 crew onboard, and we are working closely with the relevant authorities to ensure their wellbeing, and safe return of the vessel."

- ABC News' Dana Savir

President Joe Biden told reporters he expects an Iranian strike on Israel to occur "sooner than later."

Asked for his message to Iran in this moment, Biden was blunt, saying simply: "Don't."

Asked by ABC News if the U.S. would respond, he said, "We are devoted to the defense of Israel. We will support Israel. We will help defend Israel and Iran will not succeed."

-ABC News' Mary Bruce

U.S. officials continue to see indicators that Iran could be ready to attack Israel with missile and drone strikes.

Iran has readied a large number of missiles for a possible strike, according to three U.S. officials. Two of the officials said that Iran has readied more than 100 cruise missiles for a possible strike. Iran has also readied a sizeable number of drones that could be used in an attack on Israel, according to one official.

The officials said that Iran has been readying the missiles and drones over the last week.

-ABC News' Luis Martinez

At least one person is dead and 18 others injured after Israeli settlers allegedly stormed the village of Al-Mughayir in the West Bank, according to the Palestinian Health Ministry.

Some 1,500 settlers burned more than 40 homes and vehicles in the village, according to Marzouq Abu Naim, the deputy mayor of the Al-Mughir Village Council.

The Israel Defense Forces said that "violent riots" erupted in the area while forces searched for a missing 14-year-old boy.

"During the incident, rocks were hurled at IDF soldiers, who responded with fire. Hits were identified," the IDF said in a statement. "Furthermore, IDF and Israel Border Police forces operated to withdraw Israeli civilians who entered the town of Al Mughayyir."

The crowds have since dispersed and there are no longer any Israeli civilians present within the town, the IDF said.

The U.S. is sanctioning two groups and 16 people it says enabled Iran's drone production following Iran's attack on Israel last weekend.

"Today, in coordination with the United Kingdom and in consultation with partners and allies, we are taking swift and decisive action to respond to Iran’s unprecedented attack on Israel," Treasury Secretary Janet Yellen said. "We’re using Treasury’s economic tools to degrade and disrupt key aspects of Iran’s malign activity, including its UAV program and the revenue the regime generates to support its terrorism."

The Treasury Department said it’s sanctioning Khuzestan Steel Company, Iran's largest steel producer. The Treasury Department said Iran's metals sector generates "several billion dollars in revenue annually."

The U.S. is also targeting the Iranian carmaker Bahman Group for its role in making vehicles used by the Islamic Revolutionary Guard Corps for military operations.

The sanctions also target people who work for Iran-based drone manufacturers, including executives of the Mado Company, which the U.S. says produced drone engines used in Iran's Shahed UAVs. The U.S. also sanctioned members of the IRGC who it says help supply proxy groups, like the Houthis in Yemen, with drones that have attacked U.S. service members in the Red Sea.

Yellen added that the U.S. would "continue to deploy" sanctions to counter any further action by Iran, with the goal of making it harder and more expensive for Iran to undertake destabilizing actions.

President Joe Biden said in a statement that these sanctions are "holding Iran accountable."

Biden emphasized that the sanctions are in coordination with the international community, and he said the other G7 countries are committed to increasing "economic pressure" on Iran alongside the U.S.

Biden said he has instructed his team to continue to impose sanctions that will degrade Iran's military capabilities.

Biden also reiterated his ironclad support for Israel, and issued a warning to Iran and those who "enable" Iran's attacks.

"We are committed to the security of our personnel and partners in the region," Biden said. "And we will not hesitate to take all necessary action to hold you accountable."

-ABC News’ Michelle Stoddart and Justin Gomez