Trump warns of U.S. economic retaliation against nations trading with Iran

President Donald Trump warned that any nation assisting Iran would be subject to severe U.S. economic actions, raising concerns for countries that conduct trade with Tehran. China, the biggest buyer of Iranian crude—accounting for more than 80% of shipments and averaging about 1.38 million barrels per day in 2025—faces the prospect of secondary sanctions, although it has built a relatively insulated refining network. The United Arab Emirates, once a major conduit for Iranian imports and exports, suspended all financial and economic transactions after recent missile threats.

Turkey still imports roughly 13% of its natural gas from Iran and exports manufactured goods, while Iraq pays up to $5 billion annually for Iranian gas used in power generation. Smaller partners such as Oman, Pakistan, India, Armenia and Azerbaijan continue trade ranging from billions of dollars in goods to specific energy swaps, despite the risk of new U.S. restrictions.