Trump Threatens Sanctions on Iranian Oil Buyers

On May 1, 2025, President Donald Trump warned that any country or individual purchasing Iranian oil or petrochemicals would face immediate U.S. secondary sanctions and be barred from U.S. business, with the message posted on Truth Social. The move is a key part of Trump’s ongoing 'maximum pressure' campaign to restrict Iran’s nuclear ambitions and funding of regional proxies like the Houthis. The threat is particularly aimed at China, Iran’s leading oil customer, as U.S.-China tensions are already high due to tariffs. Oil prices surged and risk assets, including cryptocurrencies, experienced sharp sell-offs in response, reflecting the global economic impact. The warning followed the postponement of nuclear talks with Iran, although both sides and mediators like Oman said diplomacy would continue. Meanwhile, U.S. airstrikes on Iran-backed Houthi rebels in Yemen persist, with reported declines in Houthi attacks on Red Sea shipping.