US President Donald Trump has vowed to launch an economic war against Iran, threatening any country that does business with the Islamic Republic with consequences, at a time when tensions are rising in the Middle East.
China
China is the Islamic Republic of Iran's largest trading partner, accounting for more than a quarter of its foreign trade. The value of Chinese imports from Iran amounted to $14.5 billion, compared to exports worth $18 billion to Iran during 2024, according to World Trade Organization data.
Hydrocarbons and chemical products, including industrial alcohols and plastics, constituted the largest portion of Iranian exports to China, while Tehran imported industrial and electronic machinery and equipment, cars, and metals from Beijing.
United Arab Emirates
Before its announcement this week to cut off trade and financial exchange with Iran, the United Arab Emirates was one of Tehran's most prominent trading partners.
In 2024, Iranian imports from the UAE constituted 30.6% of the country’s total imports, with a value of about $21 billion, according to the World Trade Organization.
According to Iranian customs data, the value of Iranian exports to the UAE amounted to $6.4 billion during the first ten months of 2025, while the value of imports from the UAE reached $14.81 billion, exceeding the value of Iranian imports from China during the same period.
Türkiye
Türkiye is also one of Iran's main trading partners. The value of Iranian imports from Turkey amounted to $5.6 billion during the first ten months of 2025, compared to Iranian exports to Turkey worth $7.91 billion, the most prominent of which were hydrocarbon products, according to Iranian customs data.
Russia
As for trade exchange between Iran and Russia, the value of Russian imports from Iran amounted to about $930 million during the first ten months of 2025, while Russian exports to Iran amounted to $1.36 billion.
In 2022, trade exchanges between the two countries included grains, gold, and timber in exchange for Iranian agricultural products. The scope of trade cooperation between Moscow and Tehran has also expanded, with the establishment of new routes across the Caspian Sea to enhance bilateral trade, according to what was reported by The Telegraph newspaper.
In July, Ukraine fired on ships it said were transporting military cargo linked to Iran in the Caspian Sea, a move that angered Tehran.
Iraq
Iraq occupies an important position in Iranian trade, as the value of Iran’s exports to it amounted to $7.91 billion during the first ten months of 2025, compared to Iranian imports from Iraq amounting to about $450 million.
India
On the other hand, trade between Iran and India witnessed a sharp decline, as its volume decreased from $17 billion during the period 2018-2019 to $1.7 billion in the period 2024-2025, according to the Indian Ministry of Commerce.
As New Delhi seeks to diversify energy sources since the Strait of Hormuz crisis, India imported about 276,000 barrels of Iranian oil per day in mid-April, according to data from Kpler, a company specialized in tracking maritime traffic.
Germany
The value of German exports to Iran amounted to about one billion dollars during the period from January to November 2025, according to the German Federal Statistical Office, Destatis, while the value of German imports from Iran amounted to about 253 million dollars during the same period.
Sri Lanka
Sri Lanka's exports to Iran rose to $68 million in 2024, compared to $43 million in the previous year, according to the Central Bank of Sri Lanka. On the other hand, official imports from Iran have stopped since the imposition of US sanctions on Iranian oil exports.
Japan
Japan's exports to Iran recorded an increase of 38% during the year 2024, reaching $89 million, while imports declined by 6.4% to $29 million, according to the Japan Foreign Trade Authority.
Japanese exports to Iran included pharmaceuticals, cars, and electrical machines, while Japanese imports from Iran focused on textile products and foodstuffs.
Philippines
As for the Philippines, it will export goods worth $66 million to Iran in 2024, up from $38 million the previous year. On the other hand, the value of Philippine imports from Iran did not exceed $190,000, according to data from the country’s statistics authority.
On the other hand, the Iranian Ministry of Foreign Affairs denounced the US economic and trade sanctions, describing them as “economic terrorism,” stressing that they would not affect the Iranians’ determination to protect their country’s independence and national sovereignty.
For his part, US Treasury Secretary Scott Besent said that Washington will soon reveal the details of a new sanctions package, adding that the United States intends to impose "the harshest sanctions in history" on Iran, calling on its allies and the rest of the world to determine their position on dealing with Tehran.
