Trump’s Economic Threat Puts Focus on Iran’s Trading Partners
New York Times · LC · trust 52/100
President Trump appeared to suggest that the United States would impose economic penalties on countries that do business with Iran, though he did not specify what actions he would take.
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The United States has already imposed debilitating sanctions on Iran’s economy and its leadership, and the Trump administration has previously sanctioned certain foreign businesses and organizations that trade with Tehran. Mr. Trump’s vaguely worded social media post on Wednesday seemed to suggest that he could target nations that buy Iranian oil, without naming any.
The president has, on occasion, backed down from such threats. Foreign Minister Abbas Araghchi of Iran dismissed his latest warning, calling it “a diversion” from America’s own crises.
If Mr. Trump follows through, these are some of the countries that could be most affected:
China is Iran’s largest trading partner and the primary consumer of its oil, according to recent analysis by the U.S.-China Economic and Security Review Commission, a group founded by Congress to examine America’s bilateral ties to China.
For years, China has been practically alone in its willingness to defy Western sanctions on Iranian oil, buying up to as much as 90 percent of Tehran’s oil exports. In recent months, however, Iran’s ability to ship oil by sea has been all but cut off by a U.S. naval blockade.
Last year, China estimated its bilateral trade with Iran to be worth nearly $10 billion, a figure that doesn’t include oil.
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