(Bloomberg) — President Donald Trump mentioned he would impose secondary sanctions on nations or firms shopping for Iranian oil, ratcheting up strain on Tehran as nuclear talks with the US hit a snag.
“Any Nation or one that buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran shall be topic to, instantly, Secondary Sanctions,” Trump mentioned in a Thursday publish on social media. “They won’t be allowed to do enterprise with the US of America in any method, form, or kind.”
The transfer would goal a significant income supply for Iran, marking an escalation of Trump’s “most strain” technique designed to stop the Center Jap nation from buying nuclear weapons. It got here someday after the Trump administration sanctioned seven entities it accused of buying and selling Iranian oil.
Iran shipped about 1.7 million barrels per day of crude and condensates throughout April, in line with preliminary estimates. Two of the largest patrons of the nation’s crude have historically been China and India.
Finishing up the menace may additional inflame tensions with China, which is already embroiled in a commerce warfare with the US. It could additionally convey sanctions on the United Arab Emirates, a key US companion within the Center East that additionally purchases Iranian petroleum merchandise.
US crude futures gained after Trump made his announcement, rising 1.6% to $59.12 per barrel.
The negotiations over Iran’s nuclear program are going through contemporary uncertainty after a gathering set to happen this weekend was postponed and US officers mentioned that they had by no means agreed to affix the newest spherical within the first place.
Oman’s overseas minister mentioned on X {that a} new spherical of talks between US and Iranian officers scheduled on Saturday shall be pushed again attributable to “logistical causes.” “New dates shall be introduced when mutually agreed,” mentioned Badr Albusaidi, whose authorities is facilitating the negotiations.
However a spokesperson for President Donald Trump’s envoy, Steve Witkoff, mentioned the US by no means introduced {that a} assembly was set to happen this weekend. State Division spokeswoman Tammy Bruce mentioned Thursday that regardless of some experiences, the US “was by no means confirmed to be taking part in a fourth spherical of talks with Iran.”
“I’d say it is a fluid state of affairs,” Bruce added. “However we anticipate one other spherical of talks will happen within the close to future.”
Iranian state media reported on Thursday that the talks had been rescheduled on the request of Oman, citing a spokesman for Iran’s overseas ministry, who mentioned the following attainable dates shall be introduced later.
Washington and Tehran final final week signaled progress in negotiations, whilst each side mentioned that substantial work stays to be achieved. Iranian Overseas Minister Abbas Araghchi mentioned he was cautiously optimistic a deal might be reached if the US prevented “unrealistic and inconceivable calls for.”
Trump has pledged he gained’t permit Iran to develop or get hold of nuclear weapons, as he seeks to interchange a 2015 nuclear deal he deserted with a brand new settlement. His administration has additionally stepped up strain on Tehran, rolling out a number of rounds of sanctions. Iran has insisted that its nuclear program is peaceable whereas sustaining that its capacity to complement uranium is non-negotiable.
Trump’s newest secondary sanctions on Iran’s oil and petroleum merchandise echo a few of his first-term strikes towards Tehran. After the president withdrew the US from the Obama-era accord limiting Iran’s uranium enrichment, he reimposed sanctions suspended by the deal and slapped new restrictions on different nations’ purchases of oil from the OPEC member.
The technique prompted Iran’s oil exports to fall together with its forex — an final result Trump hailed Thursday as stopping battle within the Center East. “Iran had no cash after I was president; they had been out of cash, they had been bust,” Trump mentioned in a Rose Backyard prayer occasion Thursday. “They weren’t giving it to Hamas. They weren’t giving it to Hezbollah. They weren’t giving it to anyone as a result of they didn’t have any cash.”
The opposite US sanctions introduced Wednesday focused 4 sellers and one purchaser of Iranian petrochemicals “price lots of of thousands and thousands of {dollars},” in addition to an Iran-based cargo inspection firm and a marine administration agency serving to facilitate the transport of Iranian crudes and merchandise, in line with a press release by Secretary of State Marco Rubio
Whereas Witkoff and different officers have instructed nuclear talks are making progress, different members of Trump’s administration have taken a more durable line. On Wednesday, Protection Secretary Pete Hegseth blasted Iran and reiterated accusations that it’s offering deadly assist to Houthi rebels in Yemen.
“We see your LETHAL assist to The Houthis,” Hegseth wrote on X. “We all know precisely what you might be doing. You realize very nicely what the U.S. Army is able to — and also you had been warned. You’ll pay the CONSEQUENCE on the time and place of our selecting.”
–With help from Natalia Drozdiak, Golnar Motevalli, Joe Ryan, Stephanie Lai and Eric Martin.
(Updates with extra context, particulars on sanctions and State Division remark from fifth paragraph.)
©2025 Bloomberg L.P.
