Who does Iran trade with and what could Trump's 'economic D-Day' mean?
Iran is no stranger to US sanctions and has developed deep economic ties with several countries.
Iran engages in significant trade with several countries despite facing US sanctions, which could be affected by President Trump's "economic D-Day" strategy. China is the largest buyer of Iranian goods, accounting for 26.9% of its exports in 2025. However, there are concerns about underreported oil sales to China. Turkey, a NATO member bordering Iran, also trades with Iran but faces US pressure to stop.
Pakistan, another important trading partner, is more reliant on US trade and has been smuggling Iranian oil across its border with Iran. Armenia, with Russia as its top export partner, continues trade with Iran despite US sanctions. Iran maintains a relationship with the US through its mediator role in peace talks with Israel. While US sanctions tighten the economic noose, their enforcement effectiveness is questioned, potentially impacting people more than economies.
The US economic strategy has seen limited response from global markets, with oil prices falling but still above pre-war levels, and stock indexes showing little change.
Written by urgent.news from BBC Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
