The Trump administration's return to 'maximum pressure' sanctions on Iran is expected to have global implications as nations brace for the impact of the crackdown on third-party oil dealers. The executive order aims to drive Iran's oil exports to zero and calls for a re-evaluation of beneficial ownership thresholds and the responsibility of financial institutions. Qatar is under pressure from Iran to release $6 billion in Iranian oil revenues, but a source familiar with Qatar's plans says that will not be happening. The order also targets China's imports of Iranian oil, which rebounded in February but are expected to fall again in the near term. Additionally, the order demands that waivers be revoked for Iran's Chabahar Port project in southern Iran, which India has invested in. Iraq, which has significant leverage over Iran, is also facing pressure as a sanctions waiver allowing them to buy Iranian electricity is set to expire in March.