Axios reported yesterday, citing two U.S. officials briefed on the issue, that President Donald Trump and Israeli Prime Minister Benjamin Netanyahu agreed during their meeting at the White House on Wednesday that the U.S. will increase the economic pressure on Iran, mostly when it comes to oil sales to China. More than 80% of Iranian oil exports go to China. If China reduces its purchases of oil from Iran, the economic pressure on Iran would increase significantly.
This could change Iran’s calculus and push it to make more concessions regarding its nuclear program, they say. U.S. officials say the maximum pressure campaign will take place alongside the nuclear talks with Iran and the ongoing military build-up in the Middle East for possible strikes if diplomacy fails.
Axios notes that ten days ago Trump signed an executive order allowing for imposing tariffs of up to 25 percent on any country that buys Iranian oil. However, Axios notes, any tariffs on China for buying Iranian oil would complicate what is already a tense relationship, with the U.S. trying to preserve the flow of vital rare earth magnets and protect a planned April summit in Beijing.
