US Treasury Secretary Scott Bessent announced that, under current conditions, China is the only country that continues to purchase Iranian oil, while other nations are refraining from buying it due to the potential reimposition of US sanctions.
In an interview with Fox News on Tuesday, June 30, Bessent stated that potential buyers of Iranian oil are uncertain about the future of US sanctions and fear that Washington may once again enforce strict oil restrictions on Iran.
He added that Iran has so far been unable to secure new clients for its oil, as many prospective buyers are waiting for clarity on the status of the sanctions.
According to the US Treasury Secretary, China, which had previously purchased Iranian oil during earlier sanctions, remains Iran’s sole oil buyer. As a result, Iranian oil continues to be offered at a discount on the market.
Bessent also noted that the limited number of buyers for Iranian oil could incentivize Tehran to continue its negotiations with Washington. Referring to the ongoing talks following the peace agreement framework reached between the two sides earlier this month, he suggested that these market conditions could provide further motivation for Iran to pursue the dialogue.
