Energy
May 12, 2026
The US is putting increasing pressure on Iranian oil sales before President Donald Trump's high-stakes visit to China, the world's largest crude importer.
On the day before Mr Trump left for Beijing, the Treasury Department hit Tehran with its latest round of sanctions on Chinese purchases of Iranian oil. The punitive measures were the latest instalment of Washington's Economic Fury campaign against Iran's so-called shadow fleet and banking system.
While this sanctions campaign is aimed directly at Iran's economy, it is also penalising China, which for years has been the Opec producer's top buyer of oil. China bought on average 1.38 million barrels of oil a day last year, representing more than 80 per cent of Iran's oil exports, according to Kpler.
