The U.S. has warned it could impose sanctions on buyers of Iranian oil and expects China to halt purchases as Washington intensifies enforcement of a maritime blockade on Iran.
“We have told countries that if you are buying Iranian oil, and if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions,” U.S. Treasury Secretary Scott Bessent told reporters at the White House.
The maritime blockade began on Monday, as the Iran war entered its seventh week. China has previously accounted for more than 80% of Iran’s seaborne oil exports.
“With this blockade, we believe there will be a pause in Chinese buying,” Bessent said.
He added that the Treasury has written to two Chinese banks, warning that if U.S. officials can demonstrate Iranian funds moving through their accounts, Washington is prepared to impose secondary sanctions.
China’s embassy in the U.S. did not immediately respond to a request for comment on Bessent’s remarks.
The Trump administration has said it is pursuing “maximum pressure” on Iran over its nuclear programme and its support for militants across the Middle East. However, sanctioned oil has continued to reach China.
Also on Wednesday, the Treasury targeted Iran’s oil transport network, sanctioning more than two dozen individuals, companies and vessels.
The announcement comes weeks after Washington issued a 30-day waiver covering Iranian oil at sea, which Bessent said last month allowed roughly 140 million barrels to reach global markets — a move intended to ease pressure on energy supplies during the war.
Bessent confirmed on Wednesday that the waiver, issued on 20 March and due to expire on 19 April, would not be renewed, a decision previously reported by Reuters.
The U.S. also did not renew a separate waiver on Russian oil at sea, which expired on Saturday.
Reuters has also reported that the Treasury sent letters to authorities in China, Hong Kong, the U.A.E. and Oman, identifying banks allegedly linked to illicit Iranian activity and warning of possible punitive U.S. measures.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over t...
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products....
Flights at Catania airport in Sicily will remain suspended until early Friday as ash from Mount Etna continues to disrupt air travel, following hun...
Disruption in the Strait of Hormuz has increased the strategic importance of Bab al-Mandab, raising fears that instability in both waterways could trigger a wider global energy and trade crisis.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source who said there had been no progress in talks to revive the interim deal agreed in June and define a timeframe to implement it.
Millions of people across Spain and Iceland are preparing on Wednesday to witness a rare total solar eclipse, when the moon will pass directly between Earth and the Sun, briefly turning daylight into darkness along a narrow path.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 12th of August, covering the latest developments.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over the strategic waterway and insisting it will not reopen until Washington fulfils its commitments under an interim deal.
Central Asia’s economy has surpassed $543 billion, driven by Kazakhstan’s economic weight, strong exports and foreign investment, while growing trade across Asia points to an increasingly connected region.
The United Nations refugee agency is planning a settlement and carpet-weaving workshop for Afghan returnees in Kabul as the country grapples with large-scale returns and growing pressure on housing, jobs and basic services.
Iran will soon join the New Development Bank (NDB), the lender established by BRICS nations, Central Bank Governor Abdolnaser Hemmati said in a state media report on Wednesday ahead of a BRICS finance meeting in India.
Azerbaijan's President Ilham Aliyev has outlined an expanded vision for the Zangezur Corridor, describing it not simply as a transport route connecting mainland Azerbaijan with the Nakhchivan exclave, but as a future platform for energy, telecommunications and wider regional integration.
Iran and Russia are seeking closer cooperation on arms control and Iran’s nuclear programme as the two countries deepen strategic ties amid heightened tensions with the U.S. and Israel.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment