Latest Iran sanctions risk economic showdown with China
More aggressive interventions against Chinese banks and state-owned companies will be needed to fully sever Beijing’s economic lifeline to Tehran.
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.
This story
This is one outlet's version. Read the fullest account.
