Due to Sanctions and Blockade, the Impact of U.S. Pressure Is Beginning to Show in Iran

The U.S. economic pressure campaign against Iran is starting to have a noticeable effect that Tehran finds difficult to bear, after Washington combined an oil export blockade with tightening secondary sanctions and pursuing dollar acquisition networks, according to Reuters reporting on three Iranian sources described as high-level but unnamed.

The sources said that Iran, which for decades has circumvented sanctions using front companies, unregistered carriers, and financial intermediaries, now has fewer channels to obtain foreign currency and finance imports of goods and raw materials, while the cost of using the remaining channels has risen.

On August 24, the U.S. Treasury launched an "economic isolation" operation aimed at cutting what it described as Iran’s remaining financial channels, expanding secondary sanctions to cover digital assets, technology, gold, aviation, shipping, as well as the financial and oil sectors.

The power of secondary sanctions lies in that they do not target Iran alone; they put foreign banks and companies in a position where they must choose between continuing to do business with Tehran or retaining access to dollars and U.S. banks. This forces many intermediaries to withdraw or demand higher commissions for the added risk.

The new campaign preceded a series of actions against remittance networks and shell companies. On August 7, the Treasury announced it was targeting networks in several countries, including Hong Kong, China, and Singapore, that helped Iran move hundreds of millions of dollars and restore oil‑export revenues.

Bloomberg argues that the energy crisis does not necessarily mean a shortage of supplies, but rather that the same quantities arrive at a slower pace, at higher cost, and with lower efficiency. Changing routes, boosting local production, and seeking new suppliers can help avoid the worst shortage scenarios, but the cost is passed on to factories and household budgets.