Trump's Iran Sanctions Plan Hits Snag in China
The Trump administration's 'economic onslaught' on Iran has encountered a significant challenge: China. As Treasury Secretary Scott Bessent declared, the US is trying to isolate Iran from its remaining economic partners, but Beijing is Iran's biggest trading partner and oil buyer.
China's cooperation with Iran is described by Beijing as being within 'international law,' but analysts say Beijing will try to do the minimum required without openly confronting the US. China receives more than 80% of Iranian oil shipments, usually through indirect channels.
Experts suggest that China will not go along with the new campaign if the goal is to destroy the Iranian economy and seek its government's collapse. However, if the goal is to exert pressure on Iran for concessions on the Strait of Hormuz, China can demonstrate cooperation without severing ties with Iran.
The Trump administration has refrained from imposing sanctions on major Chinese businesses or banks connected to the US financial system, despite penalizing nearly 60 Iran-linked entities. The upcoming summit between Trump and Xi Jinping may determine the future of their economic relationship.