Commodities
Trump Warns Trading Partners May Face Tougher Iran Sanctions
US President Donald Trump has warned that countries trading with Iran could face tougher sanctions as part of his campaign to isolate Tehran.
The warning, issued on August 19, comes after earlier threats from Trump to impose a 25% tariff on countries doing business with Iran.
Iran's principal trading partners include China, the United Arab Emirates, Turkey, Iraq, Oman, Pakistan, India, Armenia, and Azerbaijan.
The level of exposure varies across these countries, with energy purchases dominating several relationships. For example, China is Iran's largest oil buyer, receiving more than 80% of its shipped crude in 2025, according to commodity data company Kpler.