US Treasury Secretary vows tough sanctions on rogue nations aiding Iran, with China in the spotlight
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Treasury Secretary Scott Bessent announced a decisive crackdown on countries defying US policy by importing Iranian oil, with China—responsible for the vast majority of Iran’s oil exports—facing potential new penalties.
U.S. Treasury Secretary Scott Bessent announced on Monday that the United States will launch an 'economic D-Day' against countries that continue to purchase oil from Iran, sending a strong message to adversaries—especially China—that America will not tolerate support for hostile regimes.
While Bessent did not explicitly name China, his words were clear: 'We find that the best way to engage with countries is through quiet diplomacy, and we are level-setting with every country to tell them our expectations. We know who they are. They know who they are.' This signals a no-nonsense approach to nations undermining US security interests.
According to the U.S.-China Economic and Security Review Commission, Chinese buyers account for roughly 90 percent of Iran’s exported oil, funneling tens of billions of dollars into Tehran’s coffers and bolstering its military. Recent analyses estimate that Iran shipped between $3.9 billion and $4.2 billion worth of oil in September 2025, funding a regime that threatens global stability.
China, under pressure, has already slashed its Iranian crude imports, falling from an average of about 1.4 million barrels per day before the conflict to roughly 700,000 barrels per day in recent weeks, as refinery runs slowed and inventories were drawn down, according to Emma Li of Vortexa. Tianyue Hu of Rystad Intelligence noted that a complete halt would have limited immediate impact on China’s oil security, thanks to their large stockpiles, but the US must remain vigilant.
Chinese Foreign Ministry spokesman Lin Jian predictably complained that sanctions and pressure 'do not help in resolving issues' and would only lead to escalation—a typical response from a regime accustomed to flouting international norms.
Analysts caution that the lack of transparent data on oil flows through the Strait of Hormuz—exacerbated by Iran’s deceptive tactics—complicates assessments. While US Energy Secretary Chris Wright affirmed the strait remains open, Iranian officials dispute this, and ship-tracking firm Kpler reported that shadow tanker traffic now makes up about half of the strait’s recent oil movements, highlighting the regime’s efforts to evade accountability.
American consumers are already feeling the impact of global instability, with the national average gasoline price rising to $4.10 per gallon, up from $3.15 a year earlier, according to the AAA. This underscores the need for strong US leadership to confront adversaries and protect American interests.
Bessent emphasized that 'no one is above the reach of US sanctions,' warning that the United States does not have 'infinite patience,' though he did not specify timelines for action. With Xi Jinping scheduled to visit the United States next month, the world will be watching how America responds to those who enable Iran’s aggression.