China's Major Banks in Crosshairs as US-Iran Oil Dispute Escalates

U.S.-China tensions are escalating over Iran's oil trade, with Washington considering sanctions on Chinese banks involved in the transactions. President Trump has hinted at a tough stance, saying 'I don't have to announce everything,' without providing specifics.

The conflict dates back to 2018 when the U.S. withdrew from the nuclear deal and reimposed sanctions on Iran's oil exports. China has become Tehran's leading customer despite these restrictions, often purchasing crude at discounted prices.

Analysts question whether the U.S. would risk destabilizing global finance by sanctioning major Chinese banks, which could have far-reaching consequences for the global economy.