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.
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Dozens of people were killed in Israeli strikes on Lebanon on Tuesday, Lebanese officials said, straining a fragile ceasefire agreed between the countries in April. The attacks came as Iran accused the U.S. of violating a separate ceasefire with strikes near the Strait of Hormuz.
Canada and the Bahamas announced on Tuesday that they will temporarily restrict entry for residents of the Democratic Republic of the Congo, Uganda and South Sudan following an Ebola outbreak in the region.
Latvia is strengthening its anti-drone capabilities along its borders with Russia and Moscow-allied Belarus after several drones entered the NATO member’s airspace, according to a senior military official.
Britain and Poland are set to sign a new defence and security treaty on Wednesday (27 May), deepening cooperation between the two NATO allies as European governments respond to what they describe as a growing range of hostile threats across the continent.
A peace agreement between Washington and Tehran is yet to materialise, with U.S. President Donald Trump saying that negotiations are incomplete and an Iranian Foreign Ministry Spokesman saying that a deal isn't imminent.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 26 May, covering the latest developments you need to know.
The World Health Organization warned on Monday that the fast-moving Ebola outbreak in the Democratic Republic of the Congo and Uganda was outpacing response efforts, with 220 suspected deaths reported so far.
Iran has called Monday's U.S. strikes on it 'a gross violation' of their ceasefire. The U.S. military said it carried out defensive strikes in southern Iran after boats were seen laying mines in the Strait of Hormuz. Meanwhile, the U.S. says a peace deal may require several more days.
Shortly after nine o’clock on Tuesday morning (26 May), a sleek white train eased into Tbilisi’s central railway station, a couple of minutes behind schedule, carrying passengers from Baku for the first time since 2020.
Tajikistan is hosting the Fourth International Conference on the International Decade for Action “Water for Sustainable Development” in Dushanbe from 25 to 28 May, bringing together more than 2,500 participants from governments, international organisations and financial institutions.
Russian President Vladimir Putin arrives in Kazakhstan late on Wednesday for an unprecedented second state visit to the country in two years. He will gift Astana four Siberian tigers during the trip, as Moscow attempts to bolster its relationship with its closest partner in Central Asia.
The visit by U.S. Secretary of State Marco Rubio to Armenia marks one of the clearest signs yet of Washington’s growing interest in the South Caucasus.
Tehran has sent a senior delegation to Qatar for indirect talks on a possible peace deal with Washington amid rising tensions following a U.S. air strike on an Iranian island in the Strait of Hormuz.
Japan and the United Nations Development Programme are launching a $3 million environmental project in Kazakhstan to support the Caspian Sea and improve water monitoring, amid growing concern over falling sea levels and risks to regional trade routes.
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