Trump threatens Iran’s partners: How do secondary sanctions work?
Summary
The United States has announced new economic sanctions targeting Iran and countries that trade with Iran to weaken Tehran’s economy during the ongoing conflict. These secondary sanctions threaten penalties on partners of Iran, aiming to cut off Iran’s revenue, especially from oil, and pressure other nations to stop doing business with Iran.Key Facts
- The US launched new sanctions against at least 60 organizations in the Middle East, Asia, and Europe connected to Iran.
- These sanctions are part of an effort called “Operation Economic Outcast,” following an earlier campaign called “Operation Economic Fury.”
- Secondary sanctions target countries or companies that do business with a sanctioned country, in this case, Iran.
- The US uses its control over the dollar and financial system as leverage to enforce these sanctions.
- Financial institutions risk losing access to the US market if they handle transactions related to Iran.
- President Donald Trump warned that any country aiding Iran financially would face serious economic consequences.
- Secondary sanctions have been used before against Iran, Russia, and North Korea under a law called CAATSA in 2017.
- The sanctions aim to sever all economic links that support the Iranian government’s activities.
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