President Donald Trump is threatening Iran with additional sanctions on Monday, but there’s not much left for the U.S. to target because most of the Islamic Republic’s economy has been crippled by earlier penalties.
The U.S. is already sanctioning significant sectors including oil, banks and steel, leaving smaller targets including certain exports and government officials. Trump could also hit Iran’s central bank with secondary sanctions, at the risk of hurting humanitarian trade.
“The Trump administration has already hit most of Iran’s cash-earning exports and pushed the country into a deep recession this year,” said Peter Harrell, a fellow at the Center for New American Security, a Washington-based research group. “A lot of exports to Iran have dried up because of risk aversion and all the banking sanctions.”
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