U.S. Treasury Secretary: China Has Reduced Its Aid to Iran and Oil Supplies Are Diminishing

Washington - Afaq News - U.S. Treasury Secretary Scott Bissent stated that China has significantly reduced its aid to Iran, indicating that economic pressures and U.S. sanctions are beginning to affect Tehran's ability to export oil and obtain goods through barter.

Bissent added, in statements to Fox News, that the United States expects oil prices to drop significantly after the conflict with Iran ends, considering that Tehran is facing increasing pressures that push it towards seeking an agreement.

The U.S. Treasury Secretary mentioned that about 15 million barrels of Iranian oil are still at sea, adding that after this quantity is exhausted, Iran will not have enough oil left for trade or barter for goods, according to his estimate.

Bissent predicted that Iran would lose its ability to use oil for barter operations in about two weeks, noting that the oil shipments that Tehran will send to China in the coming period might be among the last available shipments.

He added: 'I believe Iran feels the pressure, and that is why it wants to reach an agreement,' confirming that Washington is working to prevent Iranian oil from being exported.

In the military aspect, Bissent stated that the United States has destroyed a large part of Iran's missile capabilities and drone capabilities, adding that the American strikes have destroyed, in his estimation, between 85 and 90% of Iranian factories.

He also spoke about the continuation of the blockade and economic pressure on Iran, stating that the administration of President Donald Trump now has what he described as a 'steel wall', referring to the measures taken by Washington to pressure Tehran.