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Beijing Rejects Sanctions
China said on Tuesday it would safeguard its interests after Washington laid out plans for the “economic asphyxiation” of Iran, with foreign ministry spokesman Lin Jian telling a regular news briefing that “China will take all necessary measures to firmly safeguard its own rights and interests.”
“China will take all necessary measures to firmly safeguard its own rights and interests”
Lin Jian said “Cooperation between China and Iran has always been conducted within the framework of international law and should not be interfered with or disrupted,” as the United States issued new penalties on some entities including in China and expanded secondary sanctions threats.
The dispute is tied to the U.S.-Iran war, with the U.S. Treasury describing measures as part of an effort to heap economic pressure on Iran’s rulers and with China directly affected by the blockage of the Strait of Hormuz.
In Washington, U.S. Treasury Secretary Scott Bessent threatened to cut off economic ties to Iranian allies that continue to financially partner with Tehran and introduced sanctions on digital assets, gold, aviation and shipping.
Reuters reported that the Treasury Department announced new sanctions on 60 individuals, entities and ships, while the list did not include any Chinese financial institutions suspected of facilitating Iranian oil trade.
U.S. Pressure, China Pushback
U.S. Treasury Secretary Scott Bessent warned that countries continuing to trade with Iran risked being excluded from the dollar-based financial system, while declining to identify the countries that would be targeted or disclose when penalties would take effect.
Bessent also said, “no one is above the reach of US sanctions,” as China responded that sanctions and pressure tactics do not help and Beijing would do what was necessary to protect China’s interests.
CNN reported that Bessent threatened damaging new sanctions on countries that refuse to cut economic ties with Iran but stopped short of imposing big new penalties, and that the secretary declined to name the countries while saying China, India, Turkey, Iraq and the United Arab Emirates could be most at risk.
China’s Foreign Ministry spokesperson Lin Jian reiterated Beijing’s rejection of unilateral sanctions “lacking a basis in international law” or “without the authorization of the United Nations Security Council,” and urged parties to act “with rationality and restraint.”
El Debate said Beijing would defend its right to continue trading with Iran, quoting Lin Jian that “China will take all necessary measures to firmly safeguard its rights and interests.”
What’s at Stake Next
The U.S. sanctions package is framed as targeting Iran’s economic lifelines, with the U.S. Treasury saying the new sectoral sanctions determinations issued Monday target five of Iran’s most vital lifelines that it exploits in other countries: digital assets, technology, gold, aviation and shipping.
“target five of Iran's most vital lifelines that it exploits in other countries: digital assets, technology, gold, aviation and shipping”
China’s response emphasized de-escalation and dialogue, with Lin Jian urging that “Economic blockade and the policy of maximum pressure are not the solution,” and saying the priority was to foster de-escalation and return to dialogue and negotiation.
Reuters reported that Iran threatened to respond to the broadened American economic sanctions aimed at isolating its economy, and that Iran voiced confidence its major trading partners would resist the American pressure campaign.
In the same reporting stream, Reuters said oil prices fell for the second day running as traders ignored the sanctions impact while market participants remained concerned about Iran’s ability to disrupt shipping.
The Reuters account also tied the regional pressure to maritime risk, noting that a British Maritime Trade Operations authority said an oil tanker was struck by an unknown projectile and immobilized about nine nautical miles northeast of the Omani town of Shinas at the entrance to the Strait of Hormuz.