China Remains Iran Oil’s Only Buyer as US Sanctions Threat Keeps Crude at a Discount
Updated
Updated · Bloomberg · Jun 30
China Remains Iran Oil’s Only Buyer as US Sanctions Threat Keeps Crude at a Discount
1 articles · Updated · Bloomberg · Jun 30
Summary
Treasury Secretary Scott Bessent said Iran has failed to attract new oil buyers, with China still the only purchaser as other countries fear Washington could reimpose sanctions.
That caution is keeping Iranian crude trading at a discount, Bessent said, signaling that sanctions risk is still shaping the market even without a new US move.
Bessent argued the weak demand gives Tehran an incentive to negotiate with Washington, tying Iran’s oil sales directly to the broader sanctions standoff.