economy
Trump targets Iran’s trade lifelines
Washington's threat of "economic D-Day" collides with a small group of governments that account for most of what remains of Iran's foreign trade.
TL;DR
- The U.S. announced an "economic D-Day" campaign to isolate Iran from the global economy.
- Penalties are threatened against "enablers" continuing business with Tehran.
- China is the largest buyer of Iranian oil, accounting for about 90% of its oil exports.
- The UAE has long been a major trading hub for Iran, but recently moved to suspend trade and financial transactions.
- Turkey imports Iranian natural gas and exports manufactured goods, with a significant trade volume.
- Iraq depends on Iranian electricity and gas and has historically traded billions with Tehran.
- India resumed crude oil imports from Iran after a seven-year halt, a trade now under threat.
- Enforcement details are unclear, but the threats could put the U.S. at odds with major trade partners.