China Refuses to Budge Amid US Sanctions on Iranian Trade

China has signaled it will not cut ties with Iran despite new US sanctions targeting Chinese and Hong Kong entities that help Iran conduct business. On Monday, the US Treasury Department announced a series of sanctions against individuals and entities linked to Iranian trade and economy, including the shipping and oil industry.

The 'Operation Economic Outcast' did not target any Chinese banks, but instead focused on brokers, companies, and vessels operating in various countries that transport Iranian oil and channel revenues to Iran. OFAC also sanctioned international companies operating in Iran's petroleum sector and facilitating the movement and sale of Iranian crude and petroleum products.

In response, Lin Jian, spokesperson for the Chinese Foreign Ministry, stated at a regular press conference on Tuesday, 'China has made clear on many occasions its firm opposition to illicit unilateral sanctions that have no basis in international law or the authorization of the UN Security Council.' He added that such moves by the US will only fuel tensions and lead to risk spillover, disrupting global economic and financial order.

When asked if China would be willing to change some of its behaviors and interactions with Iran to comply with US demands, Lin Jian replied that 'China's cooperation with Iran is conducted within the framework of international law, thus should not be disrupted.' He emphasized that China will do everything necessary to firmly safeguard its rights and interests.