China says will ‘safeguard own interests’ after US vows Iran sanctions

On Tuesday, China's Foreign Ministry spokesperson Lin Jian addressed the global press, expressing the nation's intent to protect its own interests following the United States' announcement of economic sanctions against Iran. The US, embroiled in a six-month conflict with Iran, recently outlined plans to economically isolate the country, extending penalties to include several Chinese entities. The US further urged international governments to join in this economic campaign against Iran.

China has consistently advocated for a ceasefire, asserting that US sanctions would not resolve the ongoing conflict. Lin Jian maintained that China's cooperation with Iran had always adhered to international law and should not be subjected to interference or disruption. He reiterated China's strong opposition to unilateral, illegal sanctions, and emphasized that Beijing would take all necessary measures to protect its rights and interests.

Beijing serves as a crucial market for Iranian oil and is directly impacted by the potential closure of the Strait of Hormuz. Iran has a history of enduring sanctions for extended periods, employing intricate international financial networks to circumvent restrictions. Prior to the conflict, Iran maintained its practice of exporting millions of barrels of oil, predominantly to China.

During a press conference on Monday, US Treasury Secretary Scott Bessent was questioned about whether Chinese banks would be targeted by the new sanctions. He unequivocally stated, "No one is above the reach of US sanctions."