How will harsh sanctions on Iran play out?
From our US edition
If you control the world’s largest economy, as the US does, and if your enemy depends on exports to the West, as Iran does, it should hardly be a surprise when the big economy decides to use its commercial and financial leverage. That is exactly what the US is doing – and this week it announced it would ratchet up the pressure substantially. Some sanctions were already in place, most notably restrictions on Iran’s oil exports, enforced by the US Navy. What’s new is that those sanctions will be supplemented by a full range of additional sanctions on commercial and bank transactions routed through third countries.