Who Does Iran Trade With and What Could Trump’s ‘Economic D-Day’ Mean?
25 August 2026
The US has announced what it describes as a major new economic offensive against Iran, aiming to cut Tehran off from sources of revenue as the conflict involving the US, Israel and Iran continues.
However, Iran has lived under US sanctions for decades and has developed strong trade links with countries including China, Turkey, Pakistan and Armenia.
China remains Iran's most important trading partner and a major buyer of Iranian goods and oil. Turkey and Pakistan also have significant economic links with Iran, while cross-border trade and fuel smuggling make sanctions difficult to enforce.
Experts say the success of the new measures will depend largely on enforcement. While Washington can impose further sanctions on Iran, putting pressure on countries and companies that continue trading with Tehran could create wider economic and diplomatic tensions.
Some economists believe the direct impact may be limited because Iran has already adapted to years of sanctions. Others warn that tougher restrictions could increase pressure on ordinary people more than on the Iranian government.
For now, markets have reacted cautiously, suggesting investors are waiting to see whether the US will fully enforce its latest sanctions measures.
The key question is whether Trump's “economic D-Day” will significantly weaken Iran's economy—or simply push more of its trade into alternative and unofficial networks.
