Tuesday, July 29, 2025

No More Deals: U.S. Threatens to Cut Off Nations Buying Iranian Oil

Shutterstock

On Thursday, U.S. President Donald Trump imposed additional sanctions on Iran’s oil sector.

He issued a stern warning that any country or individual purchasing Iranian oil or petrochemical products would face secondary sanctions.

Secondary sanctions are designed to penalize third parties that engage in transactions with entities directly sanctioned by the U.S. government. Entities subject to secondary sanctions face a ban on trade and financial transactions with the United States.

This move is seen as an attempt to further pressure Iran, which has been holding its ground in nuclear negotiations, by further constricting its oil industry – the primary source of revenue.

In a post on his social media platform Truth Social, Trump declared that to avoid sanctions, countries must immediately cease all purchases of Iranian oil or petrochemical products.

He warned, “Any Country or person who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will be subject to, immediately, Secondary Sanctions.”

Trump emphasized, “They will not be allowed to do business with the United States of America in any way, shape, or form.”

The announcement of Trump’s secondary sanctions on Iranian oil caused global oil prices to rise sharply.

Following three consecutive days of significant declines, oil prices jumped approximately 1.6% in response to Trump’s announcement of sanctions against Iran.

Hot this week

U.S. Hits Chinese Graphite With 93% Tariff—Your Next EV Just Got Pricier

The U.S. imposes a 93.5% tariff on Chinese graphite, risking a $1,000 increase in EV prices as tax credits end and production costs rise.

Crypto Boom: XRP Soars After Congress Passes Stablecoin Bill

The Stablecoin Act has passed Congress, boosting crypto markets, with XRP hitting a new all-time high and regulatory clarity for stablecoins.

Market Panic? Rich Investors Saw a Bargain, Morgan Stanley Says

Morgan Stanley's profits surged as wealthy clients bought stocks during a market downturn, driven by Trump's tariff announcement.

Oil Prices Keep Dropping as Trade Fears Grow

Oil prices fell for the third consecutive day due to rising U.S. gasoline inventories and trade tensions impacting global demand.

Tesla and BYD Battle for Japan’s Electric Car Crown: Who Will Win?

Tesla and BYD aggressively expand in Japan's EV market, aiming to challenge local automakers amidst low EV adoption rates.

Topics

U.S. Hits Chinese Graphite With 93% Tariff—Your Next EV Just Got Pricier

The U.S. imposes a 93.5% tariff on Chinese graphite, risking a $1,000 increase in EV prices as tax credits end and production costs rise.

Crypto Boom: XRP Soars After Congress Passes Stablecoin Bill

The Stablecoin Act has passed Congress, boosting crypto markets, with XRP hitting a new all-time high and regulatory clarity for stablecoins.

Market Panic? Rich Investors Saw a Bargain, Morgan Stanley Says

Morgan Stanley's profits surged as wealthy clients bought stocks during a market downturn, driven by Trump's tariff announcement.

Oil Prices Keep Dropping as Trade Fears Grow

Oil prices fell for the third consecutive day due to rising U.S. gasoline inventories and trade tensions impacting global demand.

Tesla and BYD Battle for Japan’s Electric Car Crown: Who Will Win?

Tesla and BYD aggressively expand in Japan's EV market, aiming to challenge local automakers amidst low EV adoption rates.

Nvidia Stock Surges Past $170 After U.S. Clears China Chip Exports

Nvidia's stock surged over 4% after the Trump administration lifted export restrictions on H20 semiconductors to China.

Army’s New Shaving Rule Could Push Out Thousands of Black Soldiers

The U.S. Army's new shaving policy may disproportionately impact Black soldiers with shaving difficulties, raising concerns over its fairness.

Trump Slams Fed Chair Again, Demands Rates Below 1%

Trump criticizes Fed Chair Powell, insists interest rates should drop below 1%, claiming the economy is strong and inflation is nonexistent.

Related Articles