April 23, 2026 | National Review
Turkey Is the Weak Link in Trump’s Economic War on Iran
The nation’s regulatory and commercial environment remains a critical conduit for Tehran.
April 23, 2026 | National Review
Turkey Is the Weak Link in Trump’s Economic War on Iran
The nation’s regulatory and commercial environment remains a critical conduit for Tehran.
Excerpt
With a military blockade in place in the Strait of Hormuz, the Trump administration is pivoting toward economic warfare against the Islamic Republic. The Treasury Department has provided the United Arab Emirates and Oman with a list of banks in their jurisdictions that enable Iranian illicit activity. This early warning — extended to China and Hong Kong — is intended to make clear that any financial support for Tehran will trigger U.S. repercussions. The key challenge now is inconsistent enforcement, particularly regarding Turkey.
The Turkish regulatory and commercial environment remains a critical conduit for Tehran’s access to hard currency and for sustaining global financial channels.
Sinan Ciddi is a senior fellow at the Foundation for Defense of Democracies and director of the Turkey program. Ahmad Sharawi is a senior research analyst at FDD.