US Treasury chief says only China buying Iranian oil as others wary of sanctions risk

US Treasury Secretary Scott Bessent said Tuesday that China remains the only buyer of Iranian oil, while other countries are staying cautious due to the risk that Washington could reimpose sanctions, Anadolu reports.

Speaking to Fox News, Bessent said most potential buyers were reluctant to purchase Iranian crude amid uncertainty over whether it could again be subject to US sanctions.

“The Iranians thus far have not been able to sell their oil, because the buyers are a little wary of, will it be re-sanctioned,” Bessent said.

He added that no country other than China, which had already been buying Iranian oil while it was under sanctions, had purchased Iranian crude, leaving it “still trading at a discount.”

“This is a reason for the Iranians really to embrace these negotiations,” he said.

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