The Trump administration seeks to force the Islamic Republic to back down by intensifying economic pressure and a naval blockade. At the same time, the U.S. Treasury Secretary has said Iran faces unprecedented economic isolation and that secondary sanctions may be imposed on oil buyers, including China.

Meidad Maleki, the former head of the U.S. Treasury Department’s sanctions targeting office, said Iran’s economy is not exclusively in the hands of the government, but is instead run in part by a network of merchants and “sanctions dealers.” He added that if economic pressures threaten the interests of this network, its calculations could change, forcing the Islamic Republic either to return to negotiations or to face a deeper crisis in its economic structure.