Iran’s economy faces more instability as the Trump administration pushes other countries to end all financial dealings with the Islamic Republic.

The United Arab Emirates suspended trade relations with Iran last week, starting the latest U.S. effort to isolate Tehran.

Iran’s foreign commerce was already concentrated among a small group of partners, leaving it with fewer options.

The success of the U.S. strategy depends largely on China, Iran’s top oil buyer and trading partner.

Russia, also under sweeping sanctions, has its own economic crisis and can offer little financial support.

Regional partners like Turkey, Pakistan, and Iraq have ties to both Iran and the U.S., so they may avoid secondary sanctions.

Treasury Secretary Scott Bessent called the plan “Operation Economic Outcast,” saying those who stand with the U.S. will benefit, while those tied to Iran will share its isolation.

In 2024, Iran traded $125 billion worth of goods globally, but most of it involved a few partners.

The UAE, China, and Turkey supplied nearly three-quarters of Iran’s imports.

The UAE was especially important as a re-export hub and a gateway for international payments.

Experts say Iran can replace the UAE, but not quickly.

China has economic interests beyond Iran and has avoided direct conflict.

It buys most of Iran’s crude through opaque networks that bypass sanctions.

Analysts doubt China will fully comply with U.S. pressure, though it has reduced Iranian oil imports in the past.

Other partners face their own constraints: Turkey settled a U.S. dispute over sanctions evasion, Iraq depends on U.S. control of its currency reserves, and Pakistan balances ties with both Tehran and Washington.

The U.S. dollar’s dominance means no partner would antagonize Washington lightly, one expert said.