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The Economic Times

Global Business / The Economic Times

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Trump will have to risk pain to make new Iran sanctions truly bite

The United States is unveiling new sanctions against Iran today. These measures aim to cripple Iran's economy by targeting its oil sales. China buys most of Iran's oil and provides crucial financial networks. US success depends on confronting Chinese companies and banks directly. This strategy risks escalating tensions between the US and China.

24 Aug 2026 9:16 pm