Bessent to hold talks with China on Iran financial ties before Trump-Xi summit
US Treasury Secretary Scott Bessent has said he expects to hold talks with Chinese Vice Premier He Lifeng this weekend over Beijing's financial relationship with Iran. The dialogue comes before a summit between US President Donald Trump and Chinese President Xi Jinping later this month. With the US-Iran war now in its seventh month, Washington has been seeking to rally global support for its…
US Treasury Secretary Scott Bessent anticipates discussions with Chinese Vice Premier He Lifeng about Beijing's financial ties to Iran, as the two leaders prepare for a summit. The talks aim to bolster global support for new US sanctions on Iran, designed to sever its financial connections and bring the regime to the negotiating table.
Bessent revealed the planned talks during a Capitol Hill testimony, though the location and date remain undisclosed. China, Iran's primary trading partner in 2025, has previously stated it will protect its interests. The US has imposed secondary sanctions against companies transacting with Iran, warning of potential dollar-based system cutoffs.
China has not yet responded to the US action, which has not escalated to targeting Chinese financial institutions. The EU and UAE have backed the US sanctions, with the UAE halting its trade and financial dealings with Iran due to regional threats. Bessent attributed the forward-thinking statements to the UAE and mentioned a recent positive discussion with UAE financial system members.
The Treasury Department recently targeted Russia's and Turkey's financial institutions for their dealings with Iran, while the UAE Central Bank announced an urgent examination of a Banque Misr branch in the UAE.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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