China warns it will protect its interests after US widens sanctions against Iran

The United States has announced plans to expand economic sanctions against Iran and its trading partners, including China. China's foreign ministry spokesman Lin Jian vowed to protect Chinese interests, stating that Beijing opposes "illegal unilateral sanctions" and will take necessary measures to safeguard its rights. The US Treasury Secretary Scott Bessent warned that any nation financially partnering with Iran would be isolated under the new measures.

China is currently the largest buyer of Iranian oil, although the trade has decreased due to the US blockade of Iran’s ports. Bessent described the sanctions as the "single greatest financial offensive ever" against Iran, warning banks and businesses that they could be affected if they maintain ties with Iran. The sanctions are part of a broader strategy to end the conflict with Iran, which has led to increased oil prices worldwide.

Iran is already under heavy sanctions from the US, but Bessent stated that these new measures go further. China has already tightened export controls on rare earths as part of previous trade negotiations with the US. Iran's Economy Minister Ali Madanizadeh said Tehran is ready for the expanded sanctions, which it claims will lead to another defeat for the US.