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U.S. sanctions pressure Iran trade, threatening key energy imports
China buys more than 80% of Iran’s seaborne crude, and Iraq uses Iranian gas for up to 40% of electricity generation, leaving energy flows exposed to further restrictions.
OilPrice reports that Washington’s push against Iran, described as an “economic D-Day,” relies heavily on access to the U.S. financial system, which can widen the set of targets as U.S. pressure penetrates Iran’s remaining trade.
The outlet points to energy links that make Iran’s customers more vulnerable, noting that China purchases more than 80% of Iran’s seaborne crude and that Iraq relies on Iranian gas for as much as 40% of its electricity generation.
OilPrice also highlights gas and trade dependence beyond China and Iraq, saying Turkey imported 4.5 bcm of Iranian gas in the first half of this year, while India maintains a heavily one-sided trade relationship with Tehran.
The article says the Trump administration took a cautious approach in its first round of actions on Monday, targeting nearly 60 individuals, companies and vessels and expanding sanctions across shipping, aviation, technology, gold and digital assets, while leaving China’s major banks untouched.
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