China Vows to Protect Interests Amid US Economic Sanctions on Iran

China has vowed to protect its interests after the US announced new economic sanctions on dozens of entities, including some in China, as part of 'Operation Economic Outcast' aimed at curbing Iran's financial lifelines.

The US Treasury Secretary Scott Bessent outlined penalties on Monday on nearly 60 entities, individuals, and vessels in multiple jurisdictions, which allegedly enable Iran's activities, including nuclear and missile technology procurement, cyber operations, and oil-revenue generation networks.

China's Foreign Ministry said it would take all necessary measures to safeguard its own rights and interests if the US proceeds with its plan for 'economic asphyxiation' of Iran. The country has been a key customer for Iranian oil and is directly affected by the blockage of the Strait of Hormuz.

The sanctions also targeted businesses in the UAE, Singapore, and several other countries, including a cooking-oil refinery in France. However, US Treasury Secretary Scott Bessent said Chinese banks would not be targeted by the new penalties, citing that 'no one is above the reach of US sanctions.'