Mon Jan 13, 2020, 06:00 PM

Stop buying Iranian oil or face sanctions: US in talks with China over Iran

Washington has managed to "cut off probably over 95 percent of the oil revenues" of Iran, according to US Treasury Secretary Steven Mnuchin.
He told Fox News that US officials are now working on the issue with China, as the country accounts for a significant part of Iran’s remaining oil exports.

"I sat down with the Chinese officials. They flew in a delegation to meet with us and the State Department to talk about this. They've cut off all of the state companies from buying oil, and we're working closely with them to make sure that they cease all additional oil activities," Mnuchin said.

China quietly ramps up oil production in Iran

He noted that the US administration's goal is to cut off oil revenues going to "bad acts."

"China is subject to sanctions just like everybody else," Mnuchin said. "We actually sanctioned some of their shipping companies that were involved in the oil, and we will continue to pursue sanctions activities against China and anybody else around the world that continues to do business with them."


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