China Warns US to Hands Off Iran Trade Amid Escalating Sanctions
China has warned the US not to interfere with its trade with Iran, stating that it will take all necessary measures to safeguard its rights and interests. In a news briefing, Foreign Ministry spokesperson Lin Jian said China is firmly opposed to what it calls 'illegal unilateral sanctions' imposed by the US on Iran.
The economic war between the US and Iran has been ongoing since February 28, with the US imposing severe new sanctions on Monday. The sanctions target 60 individuals, entities, and vessels, but do not include Chinese institutions that Washington suspects are facilitating Tehran's oil trade.
Iran's economy has been devastated by the sanctions, blockade, and war, with Iranian oil exports to China falling to 785,000 barrels per day in June, the lowest since February 2023. The Iranian rial has also fallen to a record low of 2.02 million to the dollar.
US Treasury Secretary Scott Bessent described the sanctions as a 'warning shot,' but warned that any country trading with Iran would be isolated. China's Economic Minister Ali Madanizadeh vowed to resist the widening US sanctions, saying 'the enemies should wait for an attack.'