Sure the US controls many of the levers, but there is still the "inter" in "interdepdence" and there are limits to how much you can punish others without punishing yourself and everybody.
Donald Trump has announced a new campaign to isolate Iran’s economy, threatening “tremendous economic consequences” on any country that helps or does business with Tehran, a move that could set up a fresh confrontation with China if implemented.
“Today, I am announcing the most crushing economic operation ever taken against any country!” Trump wrote on Truth Social. “Any country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face tremendous economic consequences.”
And, for better or for worse, countries will move away from that system as best they can.