Trump Allows China to Buy Oil from Iran: A Shift in US Policy

In a surprising move on June 24, 2025, U.S. President Donald Trump announced that China can continue purchasing oil from Iran. This decision starkly contrasts with the usual U.S. policy opposing Iranian oil sales. “China can henceforth continue to buy oil from Iran. With some luck, they will also purchase substantial American oil,” Trump wrote on Truth Social while en route to the NATO summit in The Hague. He added, “It is a great honor for me to have made this happen.” Around 16:45 Greek time, Brent crude oil prices fell by 4.43% to $68.31 per barrel, while West Texas Intermediate dropped 4.51% to $65.42 per barrel. The U.S. often imposes sanctions on buyers of Iranian oil to restrict Tehran’s financial resources. China remains the largest customer for Iranian oil, absorbing over 90% of its exports, according to Kpler. Much of this is purchased by small Chinese refineries independent of state-owned oil companies, helping them avoid U.S. sanctions.