US sanctions Chinese entities, issues global warning on ‘Economic D-Day’ against Iran
The United States on Monday announced fresh sanctions against 60 entities in multiple countries, including China and Hong Kong, and issued a fresh warning demanding “immediate action” from nations maintaining economic and commercial ties with Iran. The actions announced on Monday are part of the Trump administration’s latest efforts to choke off Tehran economically after military strikes and…
The United States has imposed new sanctions on 60 entities, including those in China and Hong Kong, in a bid to economically pressure Iran following failed diplomatic negotiations. Treasury Secretary Scott Bessent warned that any entity facilitating money laundering for Iran will be removed from the US dollar system. President Donald Trump has been contacting world leaders to halt their dealings with Iran.
The Treasury Department claims to have identified networks used by Iran to smuggle oil, bypass sanctions, and fund terror. Iran has threatened retaliation against its neighbors if they join the US-led economic measures. China, the largest buyer of Iranian oil, has called for restraint and urged Washington to act cautiously. The US Treasury has already targeted several Chinese companies for their alleged involvement in Iran's oil trade and arms purchases.
Despite the mounting pressure, Iran remains defiant, vowing to prevent any oil from leaving the Gulf and dismissing the US threats as desperate.
Written by urgent.news from Reuters Business via SCMP's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
