Trump administration launches late-term sanctions blitz, 1,500+ sanctions imposed on Iran entities

After the November 2020 election, the administration imposes new sanctions on Iran virtually every week, targeting 18 Iranian banks (October 8), Iran's Ministry of Petroleum and NIOC (October 26), Iran's defense and shipping industries (January 15, 2021), and hundreds of additional entities. Between 2018 and 2021, the Trump administration imposes more than 1,500 sanctions on Iran. Iran's oil revenue drops from estimated $53 billion (2018) to $12.7 billion (2020), a 76% decrease. Gross official reserves fall from ~$70 billion to ~$4 billion.