Bessent Says China's Iranian Oil Purchases Decreased

U.S. ​Treasury Secretary Scott Bessent said on Tuesday ‌that there has been a substantial decrease in China's ​purchases of Iranian ​oil. "We have sanctioned Chinese ... so-called ⁠teapot refineries, which are ​the private refineries, and we've ​seen a substantial decrease in their purchases of Iranian oil," ​Bessent said in an ​interview with Fox Business Network.

"The Chinese, ‌in ⁠general, because of the prices and because they have a very large ​strategic petroleum ​reserve, ⁠have dropped their purchases of crude over ​the past few ​months ⁠by about 40%, and that's directly pressuring the ⁠Iranian ​regime," Bessent said. - Reuters