A blockade of Iranian ports has already sharply reduced loadings onto Iranian tankers. According to Kpler data cited by CNN, shipments have fallen to a fraction of their levels between February and April.

How Trump plans to squeeze Iran

Oil: Choke Iranian crude exports and reduce Tehran’s biggest source of foreign revenue.

Banks: Target institutions handling Iranian money and threaten foreign banks with secondary sanctions.

Shadow trade: Disrupt cash transfers, exchange houses, front companies and other sanctions-evasion networks.

Shipping: Target ship registries, tankers and companies helping move Iranian oil.

Trading partners: Threaten countries and businesses providing Tehran with an economic lifeline.

China: Pressure the biggest remaining buyer of Iranian oil — potentially the toughest part of the strategy.

The gamble: Make Iran’s economic pain unbearable before political and economic pressure on Trump forces Washington to change course.

How badly is Iran hurting?

Can Trump wait longer than Iran?

Stephen N R

A Senior Associate Editor with more than 30 years in the media, Stephen N.R. curates, edits and publishes impactful stories for Gulf News — both in print and online — focusing on Middle East politics, student issues and explainers on global topics.

Stephen has spent most of his career in journalism, working behind the scenes — shaping headlines, editing copy and putting together newspaper pages with precision.

For the past many years, he has brought that same dedication to the Gulf News digital team, where he curates stories, crafts explainers and helps keep both the web and print editions sharp and engaging.