U.S. wants China to stop buying Iranian oil

Washington is consulting with Chinese colleagues to cut off oil supplies from Iran to China, U.S. Treasury Secretary Stephen Mnuchin said.

He told Fox News that through sanctions Washington has now managed to "cut off probably over 95% of the oil revenues" of Iran. According to Mnuchin, at present, China accounts for a significant part of the remaining oil exports of Iran.

"I sat down with the Chinese officials. They flew in a delegation to meet with us and the State Department to talk about this. They've cut off all of the state companies from buying oil, and we're working closely with them to make sure that they cease all additional oil activities," the U.S. Treasury Secretary said.

Mnuchin noted that the United States had previously imposed sanctions on a number of Chinese firms transporting Iranian oil.