The U.S. Treasury has launched “Operation Economic Outcast,” imposing sanctions on nearly 60 entities linked to Iran, aiming to isolate the country economically. In 2024, Iran exported $56 billion worth of goods, primarily to China, Iraq, and the UAE, while importing $68.5 billion, mostly from the UAE and China. The sanctions are expected to disrupt these trade relationships, particularly with the UAE, which has recently enacted a trade embargo against Iran.
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