After US military operations against Iran subsided, a report published by the Washington Examiner believes that the administration of US President Donald Trump has moved to a new phase of confrontation, entitled economic pressure. The Treasury Department is leading this stage through a campaign it described as “Economic Doomsday,” targeting not only Iran, but also the countries and companies that continue to do business with it.
The report considers that the plan is based on isolating Tehran economically by forcing its trading partners to choose between the American market or trade with Iran, an approach that it believes should have been adopted from the beginning of the confrontation.
The report places China at the forefront of those targeted, as it is the largest buyer of Iranian oil. Before the outbreak of the war, Beijing was importing about 1.5 million barrels per day from Iran, which is approximately 90% of its oil exports. Despite the war and sanctions, China continued to import about 823 thousand barrels per day during July, according to Kpler data.
The report indicates that a large portion of this oil is sold at discounted prices and transported to independent “Shandong” refineries, giving Beijing significant economic gains. Therefore, the US Treasury believes that striking this commercial network may be more effective than directing new military strikes.
However, the report points out that the success of this strategy is not guaranteed, because its implementation requires direct pressure on allies and economic partners of the United States, which may open a broader confrontation that goes beyond Iran itself.
According to the report, the Trump administration is betting that strangling Iranian funding sources may achieve what negotiations and military operations failed to achieve, while the question remains whether these economic pressures will push Tehran to change its behavior, or will it lead to a new escalation in the confrontation.
