Treasury: Sanctions block Iran oil sales

U.S. Treasury Secretary Scott Penny stated that the majority of countries around the world are currently not purchasing Iranian oil due to concerns about the potential return of American sanctions. Buyers continue to hesitate and worry about legal repercussions. Currently, only China is engaging in oil purchases; it had previously dealt with Iranian oil before the sanctions were imposed. This situation has led to the oil being traded at prices below its market value.

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