Trump's Iran Economic Squeeze Faces Challenge from China
The Trump administration's plan to squeeze Iran's economy has hit a snag, thanks to China. As part of 'Operation Economic Outcast,' Treasury Secretary Scott Bessent announced penalties against nearly 60 Iranian entities for supporting Tehran's nuclear and missile programs. However, the move may be complicated by China's significant trade ties with Iran.
Beijing is Iran's biggest trading partner and its leading oil buyer, with over 80% of Iranian oil shipments coming through indirect channels. In response to 'Operation Economic Outcast,' a Chinese foreign ministry spokesperson said Beijing's cooperation with Iran has always been within the framework of international law.
The US goal in targeting China is not explicitly stated, which may limit its effectiveness. Analysts say that while Xi Jinping's upcoming state visit to Washington could provide an opportunity for greater cooperation on Iran, China is likely to wait and see before making any concessions.