As the crisis with Canada escalates, the US Treasury is targeting intermediaries and currency exchange firms that funnel billions of dollars to the Pasdaran. But the Russian case and alternative channels highlight the limitations of sanctions

“I believe Trump has missed an opportunity to deal a truly heavy blow to the Iranian regime,” the ambassador tells Il Foglio

Beijing is negotiating with groups close to Tehran to ensure the safe passage of its oil tankers and, whilst safeguarding supplies from the Gulf, is developing trade alternatives between Asia and Europe. This is a long-term strategy in which the Arctic is set to play an increasingly central role

The regime may blame everything on the external enemy (there is talk of $144 billion in damages), but the economic squeeze is putting pressure on the vulnerabilities that the Pasdaran have created at the expense of citizens through years of deficits covered by the Central Bank, under-investment, corruption and resources diverted to allied militias