US Warns of Sanctions on Countries Buying Iranian Oil

Darwin, 16 April: The United States has warned that countries and institutions purchasing oil from Iran could face sanctions. US Treasury Secretary Scott Bessent issued the warning on Wednesday.

Speaking to reporters at the White House, Bessent said the US has already notified multiple countries about potential penalties.

“We have informed various nations that if any country purchases oil from Iran, or if Iranian currency is found within their banking systems, secondary sanctions will be imposed,” he said.

The warning is widely seen as directed at China, the largest buyer of Iranian oil. China reportedly accounts for nearly 80 percent of Iran’s total oil exports.

Bessent also highlighted recent US actions to curb Iranian oil trade. Since April 12, US defense forces have enforced a blockade around the Strait of Hormuz and Iranian ports.

“We believe this blockade will lead China to pause its purchases of Iranian oil,” he added.

The Treasury Secretary further revealed that letters had been sent to two major Chinese banks, warning them against facilitating Iranian financial transactions.

“If we find Iranian currency in your banking system, or any evidence of involvement in Iran’s financial flows, you will also face secondary sanctions,” Bessent stated.

Meanwhile, the US has imposed new sanctions targeting Iran’s oil sector. More than two dozen individuals and entities linked to Iran’s oil transport infrastructure have been added to the sanctions list.

Source: The Times of Israel