Without China’s Cooperation, Iran Will Not Face An Economic D-Day

On Tuesday, China reaffirmed its commitment to maintaining economic ties and trade relations with Iran, despite the U.S. imposing new sanctions on Monday. These sanctions targeted individuals and entities involved in Iranian trade and the economy, including those in the shipping and oil industries. However, the sanctions did not extend to Chinese banks, as the "Operation Economic Outcast" launched by Treasury Secretary Scott Bessent focused on other entities.

The sanctions, known as "Operation Economic Outcast," targeted brokers, companies, and shadow-fleet vessels operating across several regions, such as the UAE, Hong Kong, China, Singapore, Switzerland, and Europe, that were involved in transporting Iranian oil and facilitating its sale and movement to Iranian entities. The U.S. also sanctioned international companies operating within Iran's petroleum sector, as well as those that helped move and sell Iranian crude and petroleum products.

Lin Jian, a spokesperson for the Chinese Foreign Ministry, was the first to react publicly to the U.S. sanctions on Tuesday. In a press conference, he strongly opposed the unilateral sanctions, stating that they had no basis in international law or UN Security Council authorization. He warned that such moves would only fuel tensions and disrupt the global economic and financial order, potentially harming the rights and interests of other countries.

Lin Jian emphasized that China would take all necessary measures to protect its rights and interests, hinting at potential retaliation if sanctions expanded further. When asked if China would modify its behavior and interactions with Iran to comply with U.S. demands, the spokesperson affirmed that China's cooperation with Iran was conducted under international law and should not be disrupted.