In a statement that effectively targets China and increases pressure on Tehran over its nuclear program, President Trump has now reportedly vowed to bar purchasers of Iranian oil or petrochemicals from conducting business with the United States.
Trump threatened to impose secondary sanctions on purchasers of Iranian oil and petrochemicals if they did not immediately cease their purchases in a social media statement on Thursday.
After the majority of foreign buyers, from Europe to India, withdrew due to punishing sanctions, China is by far the largest consumer of Iranian oil and processed goods that remain.
The U.S. and China are still engaged in a larger trade conflict. Despite imposing high tariffs on Chinese imports, the Trump administration is considering ways to ease tensions.
Among the harsh warnings the administration sent to Iran on Thursday was Trump’s threat of penalties. Defense Secretary Pete Hegseth warned Iran will pay a price for its support of Yemen’s Houthi militia, which has been launching drones and missiles at ships passing through the Red Sea, while Secretary of State Marco Rubio said Iran must cease producing uranium.
In February, the president imposed a number of penalties on importers, transporters, and brokers in an effort to increase pressure on Iran’s oil shipments.
Iran started negotiations with the United States last month over its nuclear program in the hopes of removing sanctions that would allow it to sell oil internationally once more and relieve pressure on its faltering economy.
The White House’s demand that Iran stop enriching uranium and purchase what it needs from outside sources has stalled negotiations between the two sides.
Iran had anticipated starting a fourth round of talks in Rome on Saturday, but the United States announced on Thursday that the talks would not start until the following week.
Another source of contention occurred Monday when the USS Harry S. Truman made a quick maneuver to avoid being hit by a Houthi rocket, and a jet fighter slid off the ship.
The Truman has been a part of the U.S. bombing operation to stop the Houthis’ attacks for almost a month.
China is now Iran’s main source of external economic support. According to commodities data site Kpler, very minor amounts of its bottled gas are purchased by South and Southeast Asian nations.
The Trump administration rescinded a sanctions waiver that permitted Iraq to purchase Iranian natural gas. Syria, which had previously purchased Iranian oil, ceased doing so following the overthrow of dictator Bashar al-Assad last year.
China has been cutting back on commerce with Iran after Washington took a series of harsh measures.
The Treasury prohibited two independent refiners and three terminal operations in China from purchasing Iranian oil through the U.S. financial system or engaging in trade with the United States as part of Trump’s maximum pressure campaign, which was unveiled in February.
[READ MORE: Trump Threatens to Economically Destroy Countries Still Buying Oil From Iran]
