Commodities
Trump Targets Iran's Economic Lifelines in Escalating Trade War
US President Donald Trump has escalated the economic war against Iran by targeting banks, companies, and trading hubs that keep its economy functioning.
The strategy is based on secondary sanctions, forcing companies and governments to choose between access to the Iranian market and access to the US and international financial system.
The UAE's decision to cut economic ties with Iran has intensified pressure, but China will determine whether the strategy can truly bite.
Over 80% of Iranian oil transported by sea reaches China, making it a crucial lifeline for Tehran. If Washington manages to force Chinese refineries and banks to pull back, the pressure on Iran could increase dramatically.