Donald Trump’s sanctions and the coronavirus have dramatically shifted a commercial relationship between Turkey and Iran that was underpinned by visa-free travel and centuries of trade and cultural ties.
The land crossing between the two countries has long been vital for Iran’s efforts to access foreign goods, particularly under sanctions that cut its economy off from much of the world. For decades, Turkey bought Iranian oil and gas, and Iran sent tourists and imported Turkish goods.
Then in 2018, Trump withdrew from the Obama-era nuclear deal, which was drafted to give economic relief to Iran in exchange for curbs on its enrichment program. By the following year, Turkey said it had stopped buying crude from Iran, its largest supplier. Gas imports also plunged as Turkey took advantage of lower costs while seeking to reduce dependence on Iran and Russia.
Now, bilateral trade between the two neighbors has dwindled while the amount of Iranian capital tied up in Turkey has soared.
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