
Iran's main trade partners before recent conflict and US economic war threats
US President Donald Trump has declared an "economic war" against Tehran, threatening countries that provide a "lifeline" to the Islamic Republic. This overview details Iran's main trade partners before a conflict triggered by a US and Israeli attack on Iran in late February. These figures do not account for smuggling or flows resulting from sanctions evasion strategies. China accounted for over a quarter of Iran's trade in 2024, with $18 billion in imports and $14.5 billion in exports, primarily hydrocarbons and chemical compounds from Iran, and industrial machinery, electronic equipment, cars, and metals to Iran. The UAE was the source of 30.6% of Iranian imports in 2024, totaling approximately $21 billion, and the third destination for Iranian exports at about $7 billion. However, the UAE announced the suspension of all trade and financial transactions with Iran due to escalating tensions. Turkey, Iran's third-largest trade partner, exported $5.6 billion to Tehran and imported $7.91 billion, including significant Iranian energy products, in the ten months leading up to January 2026. Russia imported $930 million and exported $1.36 billion to Iran in the same period, with cooperation strengthening to include military equipment exchanges. Iran's exports to neighboring Iraq were $7.91 billion, while imports were around $450 million. India's trade with Iran decreased from $17.03 billion in 2018-2019 to $1.68 billion in 2024-2025, though India imported 276,000 barrels per day of



