- US Treasury Secretary Scott Bessent announced new measures on Monday, warning any nation financially partnering with Iran would be isolated.
- Bessent described the measures as 'the single greatest financial offensive ever' against Iran, warning banks and businesses would share in Iran's isolation if they refused to cut ties with the country.
- China's foreign ministry spokesman Lin Jian said China was firmly opposed to 'illegal unilateral sanctions' and would take 'all necessary measures' to safeguard its rights.
- China's response followed Iranian Economy Minister Ali Madanizadeh saying Tehran was 'fully prepared' for the wider sanctions, which he said would lead to 'another defeat' for the US.
- Lin stated: 'Cooperation between China and Iran has always been conducted within the framework of international law' and should not be interfered with or disrupted.
- The announcement comes ahead of planned talks between Trump and Chinese President Xi Jinping next month, with Washington likely wary of potential retaliation from Beijing.
- Bessent declined to focus on specific nations but indicated that no one was above the reach of US sanctions, including Chinese banks.
- Madanizadeh mentioned that the Iranian government is 'ready' and has a two-year plan to manage the sanctions, stating they have been 'waiting for these plans for a long time'.
China has vowed to protect its interests after the US announced plans to widen economic sanctions against Iran, which also target Beijing. Foreign ministry spokesman Lin Jian condemned the sanctions as illegal unilateral actions and stated that China would take all necessary measures to safeguard its rights.
This announcement follows US Treasury Secretary Scott Bessent's declaration of the new measures as the single greatest financial offensive ever against Iran. Bessent warned that any nation financially partnering with Iran would face isolation, emphasizing that no one was above the reach of US sanctions.189
The sanctions come ahead of planned talks between US President Donald Trump and Chinese President Xi Jinping next month, raising concerns about potential retaliation from Beijing. Washington is particularly wary due to China's dominance in processing rare earths and critical minerals essential for high-tech manufacturing.67
In response, Iranian Economy Minister Ali Madanizadeh stated that Tehran was fully prepared for the wider sanctions, claiming they would lead to another defeat for the US. He assured that the Iranian government had a two-year plan to manage the fallout from these sanctions, indicating that they had been waiting for these plans for a long time.410
“Bessent warned that any nation financially partnering with Iran would be isolated, and Trump plans to phone world leaders with 'specific requests to cease their interactions with the regime.' The announcement precedes Trump-Xi talks next month, with Beijing processing most of the world's rare earths and critical minerals.”
BBC
