US Treasury Secretary Claims China Has Cut Back Its Support for Iran

US Treasury Secretary Scott Bessent claimed on Sunday, 5 Mehr 1405 (27 September 2026) that China has significantly reduced its support for Iran. He said only about 15 million more barrels of Iranian oil are in transit, and that Iran will probably deliver its last oil cargoes to China within the next two weeks, after which it will have "nothing to trade".

These figures are the US official's claim and have not been confirmed by Iran or China. Earlier the same day Bessent said US Treasury teams had been sent to several countries to step up economic pressure on Iran. Oil exports to China are Iran's main source of foreign currency revenue, so any change there feeds directly into FX supply and dollar market expectations.