Asian companies that had provided a lifeline to Iran after the U.S. reimposed sanctions last year are pulling back, hurting the hobbled Iranian economy and leaving the Islamic Republic with less incentive to stay committed to a multination nuclear deal, Western diplomats say.

The companies are reacting to the Trump administration’s moves this month to squeeze Iran’s oil exports and impose a terror designation on its paramilitary force. Among Asian businesses rethinking their dealings with Iran are banks, oil companies and technology giants including Huawei Technologies Co., Lenovo Group , LG Electronics Inc. and Samsung Electronics Co.

Many deals between Iran and Chinese companies “are now dead in the water,” said an adviser to a Chinese oil company in Iran. “No one wants to take the risk of going out of business.”

Last year, the Trump administration pulled out of the 2015 agreement that lifted sanctions on Iran in exchange for tightened control on its nuclear program.

Tehran pinned its hopes on China and other Asian nations when European companies began withdrawing from its economy ahead of the U.S.’s reinstatement of sanctions last fall. During the earlier sanctions period before the nuclear agreement’s approval, China overtook Europe as Iran’s chief supplier of industrial equipment.