Trump administration imposes sanctions targeting Iran's oil trade partners
World · 25 August 2026
Written by AI from multiple news reports
The Trump administration announced new sanctions on August 24, 2026, targeting companies in China, Hong Kong, and several other countries that trade with Iran.
The United States says China buys around 90 percent of Iran's oil exports. In 2025, China imported nearly 1.4 million barrels of Iranian oil per day. This oil was worth about $31.2 billion that year.
Washington has threatened to cut countries off from the US dollar system if they continue trading with Iran. The Treasury Department says it has identified the networks Iran uses to move oil secretly and avoid existing sanctions.