China warned that it would defend its interests in response to new U.S. sanctions against Iran
Kyiv • UNN
Beijing promised to protect its interests after the U.S. plans to expand sanctions against Iran and its partners. China buys most of Iran’s oil.
China has promised to defend its interests after the US announced plans to expand economic sanctions against Iran and its trading partners, including Beijing, UNN reports, citing the BBC.
Details
Foreign Ministry spokesperson Lin Jian said that China strongly opposes what he called "illegal unilateral sanctions" and would take "all necessary measures" to protect its rights.
This came after US Treasury Secretary Scott Bessent announced new measures on Monday, warning that any country financially cooperating with Iran would be isolated.
China is the largest buyer of Iranian oil, although trade has declined due to the US blockade of Iranian ports.
Lin said: "Cooperation between China and Iran has always been conducted within the framework of international law and should not be obstructed or disrupted."
Bessent called the sanctions plans "the largest financial offensive in history" against Iran, warning that banks and businesses would share Iran's isolation if they refused to sever ties with the country.
He declined to focus on specific countries, but said that US President Donald Trump would call world leaders "with specific requests to end their engagement with the regime".
However, responding to a question about Chinese banks, Bessent said he wanted to make it clear that "no one is beyond the reach of US sanctions".
The statement came ahead of planned talks between Trump and Chinese leader Xi Jinping next month.
Washington will likely be concerned about potential retaliatory measures by Beijing, which processes most of the world's rare-earth elements and other critical minerals essential to the production of many high-tech products, the publication notes.
Beijing has already tightened export controls on rare-earth elements as part of previous trade negotiations with the US.
China's response came after Iranian Economy Minister Ali Madanizadeh said that Tehran was "fully prepared" for broader sanctions, which he said would result in "another defeat" for the US.
Iran says it is ready for "tough sanctions" from the U.S. and has a plan25.08.26, 07:58 • 5172 views
"The government is ready and has been ready, and has a two-year plan to manage these events," he told state television.
"We also have our own tools and know how to play this game," he said, adding that Tehran had "been waiting a long time for these plans".
The US has called its latest sanctions "Operation Economic Outcast" and described them as an "economic D-Day" against Iran.
This came nearly six months after the start of the war with Iran.
Since then, the conflict has led to rising oil prices worldwide, with Tehran effectively blocking exports through the Strait of Hormuz—a waterway vital to the global economy. The US has also slowed shipping through its own naval blockade.
Recent attempts to end the conflict diplomatically have failed, and the 60-day ceasefire officially ended last week with no signs of a settlement.
Announcing the new sanctions, the US Treasury Secretary said that America "is no longer managing the Iranian threat; we are ending it".
Iran is already under severe US sanctions, but Bessent said these sanctions go further.
He said the US Treasury had tracked the financial channels, intermediaries and networks that Iran uses to evade sanctions on oil trading, imposing sanctions on nearly 60 organizations, individuals and vessels.
But analysts questioned the latest measures even before China's response.
David Oxley, chief economist for climate and commodities at Capital Economics, told the BBC that the direct impact on Iran's energy revenues would be "somewhat weak".
"We suspect that the new package will have only a limited direct impact on Iranian energy flows in the short term," he added.
This is partly because approximately 90% of Iranian oil goes to China, he said, "which has not recognized U.S. sanctions in the past and is unlikely to be intimidated this time either".
Ali Vaez, deputy director of the Middle East and North Africa Program at the International Crisis Group, said: "Generally, the Chinese oppose unilateral sanctions. They will comply with multilateral or international sanctions, but unilateral sanctions, once imposed by the United States – they have always considered them illegitimate".
And although Iran's neighbors, such as Pakistan, Turkey and Iraq, want to maintain good relations with the United States, they "cannot afford to sever ties with Iran", Vaez said on the Today program on BBC Radio 4.
He said that economic pressure on Tehran "does not work", as the Iranian regime is prepared to "absorb any pain" and pass it on to the people.
Other trading partners that could be affected by the U.S. announcement include India and Russia, which have not yet responded, the publication notes.