According to Treasury Secretary Scott Bessent, which country is currently buying Iranian oil, and why are other nations hesitant?

According to Treasury Secretary Scott Bessent, 'No one other than China, who was already buying it when it was sanctioned, has bought it,' meaning China is the only country currently purchasing Iranian oil. Other nations are hesitant because 'the buyers are a little wary of, will it be re-sanctioned' — i.e., they fear the U.S. might reimpose sanctions on Iranian oil trade, exposing them to financial and legal risks.

What does Bessent identify as a key incentive for Iran to engage in negotiations with the U.S.?

Bessent identifies Iran’s inability to sell its oil internationally — due to global buyer hesitation over potential U.S. re-sanctions — as 'a reason for the Iranians really to embrace these negotiations.' He states that 'The Iranians thus far have not been able to sell their oil,' and that Iranian oil 'is still trading at a discount,' creating economic pressure that incentivizes Tehran to negotiate with Washington.

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