Trump highlights secondary sanctions on purchasers of Iranian oil

Trump on Truth Social:

ALERT: All purchases of Iranian Oil, or Petrochemical products, must
stop, NOW! Any Country or person who buys ANY AMOUNT of OIL or
PETROCHEMICALS from Iran will be subject to, immediately, Secondary
Sanctions. They will not be allowed to do business with the United
States of America in any way, shape, or form. Thank you for your
attention to this matter, PRESIDENT DONALD J. TRUMP

The US has been sanctioning buyers of Iran’s oil for awhile but it mostly goes to China and it’s not like they could be tariffed any more than they already are.

The bigger question around Iran are the ongoing nuclear talks. If those fall apart there could be real repercussions in the oil market.

An even bigger development would be if US Congress were to put secondary sanctions on Russian oil.

This article was written by Adam Button at www.forexlive.com.