![Yet Trump also suggested that Beijing consider another source for its oil. “Hopefully, they will be purchasing plenty [of oil] from the U.S.,” he wrote on social media on Tuesday.](/cdn-cgi/image/onerror=redirect,width=640,height=640,format=webp/https://storage.googleapis.com/uploads.mongoosehq.com/url/media/29359951/67251dc119c7793c98546599e52757838b929af4213a3d4e0804ee90f8c54231)
Overview
- On June 24, Trump posted on Truth Social that China can continue purchasing oil from Iran while hoping Beijing will also buy more U.S. crude.
- A White House official clarified that existing sanctions remain in place and urged all nations to import American oil rather than violate U.S. restrictions.
- At the NATO summit on June 25, Trump suggested easing enforcement of Iran oil sanctions to help the country rebuild after the ceasefire he brokered.
- China imports over 90% of Iran’s crude exports, giving Beijing’s purchasing decisions an outsized impact on Tehran’s economy and global supply.
- Global oil futures dropped about 5% following Trump’s remarks and the prospect of sustained supply as Middle East tensions eased.