Overview

• President Trump announced on Truth Social that China can continue to purchase oil from Iran, reversing earlier maximum pressure sanctions on Tehran’s exports.
• The statement came hours after US airstrikes on Iranian nuclear sites and a declared ceasefire between Iran and Israel brokered by the president.
• China buys over 90% of Iran’s oil exports—about 1.3 million barrels per day in April—making Beijing Tehran’s largest lifeline under sanctions.
• Global oil futures fell nearly 5% following Trump’s comments, with Brent crude and West Texas Intermediate both dropping sharply.
• Any practical easing of US sanctions depends on enforcement decisions by the Treasury and State Departments, prompting experts to question whether China will follow through on increased US oil purchases.