China in the Crossfire of Bessent's Latest Iran Sanctions | The China Show | 8/25/2026
“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)
The Trump administration's plan to impose "economic D-Day" sanctions against Iran faces a major obstacle: China. Treasury Secretary Scott Bessent announced new sanctions on individuals and entities allegedly supporting Iran, but Beijing did not appear on the list. China serves as Iran's most crucial economic lifeline, with China purchasing nearly all of Iran's crude oil exports.
In return, Iran provided China with about 12% of its total imports. US sanctions on a major Chinese refinery have halted most Iranian crude exports for now, but with Chinese President Xi Jinping set to meet with Trump in Washington next month, the administration is attempting to avoid a full-scale economic conflict with Beijing.
Experts believe that only measures that significantly sever Iran-China trade, such as sanctions on Chinese banks, state-owned enterprises, and vital ports/terminals, could hasten Iran's economic collapse, and Washington is unlikely to take such drastic steps.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
