Iran has spent as much as $700 million annually to support terrorist groups, according to a U.S. State Department report released on Wednesday.

“The Iranian regime and its proxies continued to plot and commit terrorist attacks on a global scale,” states the report’s foreword. “In the past, Tehran has spent as much as $700 million per year to support terrorist groups, including [Hezbollah] and Hamas … ”

However, U.S. sanctions under the Trump administration have “constrained” Iran’s financial support for terrorism.

According to the report, the Islamic Republic is the largest state sponsor of terrorism. Terrorism-related sanctions have been a part of the Trump administration’s “maximum pressure” campaign on Iran since the United States left the 2015 Iran nuclear deal in May 2018.