‘Tremendous costs’: Can Trump stop other countries from trading with Iran?
Summary
President Donald Trump announced a large-scale economic campaign against Iran, threatening sanctions on any country that trades with Tehran. Iran’s officials dismissed the threats, saying the U.S. is trying to distract from its own problems, and Iran has become skilled at avoiding sanctions. Meanwhile, some countries continue trade ties with Iran despite U.S. pressures.Key Facts
- President Trump called for “economic warfare and isolation” against Iran and warned countries not to trade with Iran or face harsh sanctions.
- Trump mentioned stopping all financial help to Iran, including oil smuggling, cash transfers, and front companies.
- Iran’s Foreign Minister said U.S. sanctions hurt the global economy and accused the U.S. of economic terrorism.
- Iranian state media said the U.S. has long tried to block trade with Iran but Iran has learned to get around those restrictions.
- The UAE imposed a trade embargo on Iran after accusing it of firing missiles, which Iran denied.
- Tajikistan recently signed a deal to import Iranian oil despite U.S. sanctions.
- Iran is part of OPEC and depends heavily on oil exports, which have dropped steeply due to the war and sanctions.
- Iran’s non-oil exports totaled nearly $15 billion from March to August, but total trade has fallen by 24% compared to last year.
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