The article surveys the statute and key drivers behind Iran's foreign economic activity with the region’s countries: Middle and Near East, Central Asia, the Caucasus, South and Southeast Asia. The authors provide an analysis of the dynamics and structure of Iran’s foreign trading activity with the key counterparties based on the statistical data of international and national organizations. The article's key focus is the current status and the outlook for Iran’s economic relationship with Eurasian countries via the bilateral relations and its membership in regional organizations. The authors assess the impact of new US sanctions introduced by the D. Trump administration against Iran on the Iran’s foreign economic policy. The underlying trends of Iran's oil export, the country's largest source of hard currency income and reserves, as well as triggers affecting the supply of Iranian crude oil to the global markets are reviewed in the article. Over a few years, due to constant strengthening western sanctions regime against Iran's nuclear program, China has turned into a largest importer of Iranian oil and Iranian non-oil exports, accounting for over 26% in Iran’s foreign trade nowadays. The issues Iran has faced in the light of a new round of US sanctions of May 2018 may possibly affect both the positions of countries-importers of Iranian oil and overall the investment potential of the large Iranian market. The authors undertake an attempt to evaluate the influence of new US sanctions on Iran’s investment cash flows. Authors further suggest that the financial vehicle to support the trade with Iran, initiated by Europe in order to fulfill the signed in Vienna in 2015 Joint Comprehensive Plan of Action (JCPOA), might be ineffective. The authors highlight the reactivated sanctions trigger the revival of Asia's economic relationships with Iran which may create upside risks for tension increase in the region.