US withdraws from JCPOA, reimposes sanctions (2018)
President Trump pulled the US out of the Iran nuclear deal and reimposed sanctions on Iran's oil, banking and shipping sectors. Foreign companies were forced to choose between the Iranian market and access to the US financial system.
Iranian oil exports collapsed and the economy shrank sharply within a year.
Established the playbook of using dollar-system access as leverage to pressure Iran without direct military action.
Today's aviation ban uses the same leverage — threatening exclusion from the dollar system — but extends it to airlines and airports, not just banks and oil buyers.
