According to the US, “the single greatest financial offensive ever” will assist Israel and the US in putting an end to their protracted conflict with Iran. But these strategies are nothing new to Iran. Since the Islamic Revolution of 1979, the US has imposed sanctions on the regime almost continuously. During that period, it has established close commercial relationships with a number of nations that either have a track record of disobeying US economic pressure or cannot afford to cease doing business with Iran.
Iran claims it is “fully prepared” for the new US sanctions as a result, and many economists feel that Washington’s most recent action will have little effect. Who does Iran deal with, then? And could Iran really be affected by what the US has dubbed an “economic D-Day”?
According to figures from the International Trade Centre (ITC), a division of the World Trade Organization and the United Nations, China is the largest consumer of Iranian commodities, accounting for 26.9% of its exports in 2025.
ITC’s data, which spans the period before the start of the US-Israel war with Iran, has several limitations. First, a number of economists think that many Iranian oil shipments, especially to China, were underreported for political reasons even before the conflict began.
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