U.S. Treasury Secretary Scott Bessent said that entities purchasing Iranian oil could face U.S. sanctions and that the U.S. will not renew purchase waivers.
This shift in policy aims to enforce a maritime blockade on Iran to prevent revenue from funding Iranian war activities. The move specifically targets the financial flow of oil exports to pressure China into pausing its acquisitions.
Bessent issued the warning on April 15, 2026 [1]. He said that the U.S. would not grant a third renewal of the waiver that allows the purchase of Iranian oil at sea [3]. This policy change directly impacts the global energy market, as China currently purchases approximately 90% of Iran's oil exports [4].
"We will not hesitate to sanction any entity that purchases Iranian oil," Bessent said [1].
The Treasury Department is specifically targeting the transportation of oil to restrict Iran's ability to generate hard currency. By removing the legal protections provided by waivers, the U.S. seeks to isolate the Iranian energy sector from international banking systems.
Bessent said that the U.S. expects a shift in behavior from major importers. "China is expected to pause its purchases of Iranian oil in response to our enforcement actions," Bessent said [2].
The administration's approach focuses on the maritime transport of oil, a critical vulnerability in Iran's export strategy. By signaling a zero-tolerance policy for buyers, the U.S. intends to create a high-risk environment for any refinery or shipping firm handling Iranian crude.
“"We will not hesitate to sanction any entity that purchases Iranian oil."”
The refusal to renew oil waivers represents a transition from a flexible enforcement strategy to a strict maritime blockade. By targeting the 90% of exports flowing to China, the U.S. is using economic leverage to disrupt Iran's military funding. If China complies with these threats to avoid sanctions, Iran could face a severe liquidity crisis, potentially altering its regional strategic calculations.
