US Treasury Secretary Scott Bessent warned non-Chinese buyers of Iranian crude oil on Tuesday that Washington is ready to enforce secondary sanctions on intermediaries facilitating transactions with Tehran.
The warning is part of an updated “maximum pressure” campaign aimed at choking off Iran’s oil revenues, according to reports from Fox News and Crypto Briefing.
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Bessent stated that foreign entities dealing with Iran face immediate risks from secondary American financial sanctions.
The Treasury Department noted that China remains the dominant buyer of Iranian oil, absorbing a substantial share of exports while smaller buyers step back to avoid being cut off from the US financial system.
Bessent explained that the lack of alternative buyers forces Tehran to accept discounted prices, which provides a strong incentive for Iran to engage in ongoing diplomatic talks following a framework peace deal reached earlier this month.
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“The Iranians thus far have not been able to sell their oil, because the buyers are a little wary of, will it be re-sanctioned,” Bessent said.
The administration has also targeted digital asset channels under an initiative named “Operation Economic Fury” to prevent evasion of energy sanctions through alternative financial networks.
“This is a reason for the Iranians really to embrace these negotiations,” Bessent added.
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As part of enforcement, the Office of Foreign Assets Control seized approximately $1 billion in cryptocurrency assets and blacklisted four Iranian digital asset platforms, including Nobitex, on June 2.
