I posted comments from Mnuchin earlier (from his interview ith Fox):

and:

He also elaborated in Iran/China/oil:

  • We've cut off probably over 95% of the oil revenues, so there's a very small amount of oil revenues, and you're right, a component of that, a big component of that is China... we're working closely with them to make sure that they cease all additional oil activities.
  • China is subject to sanctions just like everybody else
  • The Europeans are adhering to our primary sanctions

Oil is not much changed, its only been open for a few hours for week so far:

Mnuchin oil china iran chart