Beijing warns it will not sever ties with Iran after US vows ‘economic D-Day’

The US has launched a fresh economic campaign against Iran, dubbed "Economic D-Day", aimed at isolating Tehran and curbing its access to the global financial system. The move has drawn a warning from China, a major trading partner of Iran, that it will retaliate against the US.

Treasury Secretary Scott Bessent unveiled the measures, describing it as an "economic onslaught" against Iran's financial connections around the globe. In response, Iran's Economy Minister Seyed Ali Madanizadeh said the government was prepared to counter the US sanctions, stating that they would not be purely defensive and that an "attack" from Iran could be expected.

The US campaign has been described as an attempt to "strangle the Iranian regime". According to Time, Madanizadeh said the US was trying to launch an "economic terrorist attack" against Iran, and that his country had developed plans to respond.

Brief written by urgent.news from The Age, The Sydney Morning Herald, Time, The Hill — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.