Everyone fears the U.S. will renege on its promises — U.S. Treasury Secretary admits: Only China dares to buy Iranian oil

The U.S. has poor credibility — and now the U.S. Treasury Secretary has admitted it outright.

On Tuesday local time, Bessent proudly stated on a program that although the U.S. has complied with the terms of the memorandum of understanding and lifted sanctions on Iran’s oil trade, Iranian oil still can’t be sold because countries are hesitating, fearing that U.S. sanctions might be reinstated at any moment.

Bessent pointed out that there is only one country in the world brave enough to buy Iranian oil — China. Trump previously said that even if Iran were isolated by the entire world, he still believed China would continue purchasing Iranian oil.

Naturally, their intention was to boast about American hegemony, but in reality they’ve exposed their own hypocrisy and double standards — while indirectly praising China.

China has repeatedly emphasized opposition to unilateral sanctions lacking international legal authority. Similarly, China will not abide by such sanctions and will continue normal trade relations with sanctioned countries.

Currently, Iran has 68 million barrels of crude oil stranded at sea. Traditional buyers like India, Japan, and South Korea remain hesitant, afraid that U.S.-Iran tensions could flare up again at any moment. After all, just days ago there were several rounds of clashes near the Strait of Hormuz. Although both sides have shown restraint, markets remain skeptical about whether the ceasefire agreement can hold.

In fact, this is also part of the U.S. negotiation strategy: as long as Trump continues threatening Iran, America’s allies dare not fully relax and purchase Iranian crude oil, thus indirectly supporting the U.S. blockade strategy.

With Iranian oil unsellable, Iran loses leverage, making it easier for the U.S. to force Iran to the negotiating table. As Bessent put it, despite multiple major industrialized nations facing oil shortages globally, discounted Iranian crude remains unsold.

While the U.S. may temporarily leverage its dollar hegemony to pressure other countries, in the long term this will only accelerate the global move toward “de-dollarization.” Focusing solely on short-term gains shows a dangerously narrow vision.

Original source: toutiao.com/article/1869581199581257/

Disclaimer: The views expressed in this article are those of the author personally.