US Threatens Sanctions on Buyers of Iranian Oil

Treasury Secretary warns China and other countries that they could face penalties for purchasing Iranian crude.

Apr. 15, 2026 at 9:57pm

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A cinematic painting of a solitary oil tanker ship docked at a dimly lit port, with warm, diagonal sunlight and deep shadows creating a sense of quiet tension and economic uncertainty.As the U.S. tightens the economic noose on Iran, the fate of global oil trade hangs in the balance.Washington Today

The United States has threatened to impose sanctions on countries that continue to buy Iranian oil, as the U.S. enforces a maritime blockade on Iran. Treasury Secretary Scott Bessent said the U.S. has told China and other banks that if they can prove Iranian money is flowing through their accounts, they will face secondary sanctions. The move comes as the U.S. seeks to ramp up pressure on Iran over its nuclear program and support for militant groups in the Middle East.

Why it matters

The U.S. has long sought to cut off Iran's oil exports as part of its 'maximum pressure' campaign against Tehran. This latest threat of sanctions on oil buyers is an escalation of those efforts, as the U.S. tries to further isolate Iran economically. It could have significant implications for global energy markets, particularly if China - a major buyer of Iranian oil - is forced to halt those purchases.

The details

The U.S. maritime blockade on Iran began on Monday as the Iran war entered its seventh week. Bessent said the U.S. has told countries that if they are buying Iranian oil or have Iranian money in their banks, the U.S. is now willing to apply secondary sanctions. He said the U.S. has written to two Chinese banks and warned them that if Iranian money is flowing through their accounts, they will face sanctions. The U.S. has also targeted Iran's oil transportation infrastructure, imposing sanctions on more than two dozen individuals, companies and vessels.

  • The U.S. maritime blockade on Iran began on Monday.
  • The Iran war has entered its seventh week.
  • The U.S. issued a 30-day waiver of sanctions on Iranian oil at sea on March 20, which is set to expire on April 19.

The players

Scott Bessent

U.S. Treasury Secretary who warned of potential sanctions on buyers of Iranian oil.

China

A major buyer of Iranian oil that the U.S. has threatened with sanctions if it continues those purchases.

Iran

The target of U.S. sanctions and a maritime blockade over its nuclear program and support for militant groups.

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What they’re saying

“We have told countries that if you are buying Iranian oil, that if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions.”

— Scott Bessent, U.S. Treasury Secretary

“We believe (that with) this blockade ... there will be a pause of Chinese buying.”

— Scott Bessent, U.S. Treasury Secretary

What’s next

The U.S. waiver on Iranian oil sanctions is set to expire on April 19, after which the U.S. is expected to ramp up enforcement of the maritime blockade and sanctions on oil buyers.

The takeaway

The U.S. is escalating its economic pressure on Iran by threatening to sanction countries that continue to buy Iranian oil, a move that could have significant ripple effects on global energy markets if major buyers like China are forced to halt those purchases.