Source: Fortune
Summary
The Trump administration’s “Economic Fury” campaign, launched on April 16, aims to hobble Iran’s economy with sanctions. However, despite nearly 2,000 sanctions imposed in the last eight years, Iran remains unbowed. The campaign resembles the previous “Maximum Pressure” strategy, with the same effect. Experts say the US has reached the limit of what it can achieve with sanctions and economic pressure, and that a new approach is needed. Iran’s ability to weather US pressure is attributed to its continued oil sales to China and its resilience in the face of sanctions.
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The numbers tell one story.
The US has imposed nearly 2,000 sanctions on Iran in the last eight years, but Iran remains resilient. The “Economic Fury” campaign has targeted everything from oil companies to currency exchanges, but has only underscored Iran’s ability to weather US pressure. The administration’s challenge is to squeeze Iran’s economy enough to force change without harming the global economy. Experts say the US needs to either overwhelm Iran with something new or limit its ambitions. The timing of the campaign is also crucial, as Trump wants a quick end to the war and a peace deal with Iran.
The strategy enters a familiar phase: the US is constrained by the China relationship, and it seems like they’re hoping that economic pressure is going to force a capitulation, but that’s unlikely.
