China Stands Firm Against US Economic Warfare on Iran

The US has threatened to impose economic sanctions on Iran, but China is refusing to comply. Treasury Secretary Scott Bessent claims that the new approach will inflict 'substantial inflation' on Iran's 90 million people, citing the use of sanctions against Venezuela and Cuba as a precedent.

Bessent urged other nations to join in the effort, warning that those who refuse to cooperate with the administration's economic warfare strategy will be 'put into economic oblivion.' However, China's Ministry of Foreign Affairs spokesperson Lin Jian stated that China will not participate in efforts to isolate Iran, calling for a return to dialogue and negotiation.

The conflict has caused shipping traffic through the Strait of Hormuz to remain below prewar levels, with daily numbers in the single digits. Crude oil prices have increased by 30% since the start of the war, while US gas prices are still up by over a dollar per gallon.