US Economic Campaign Against Iran Complicated by Chinese Ties

US Treasury Secretary Scott Bessent's recent declaration of an 'economic onslaught' on Iran's financial connections around the world has raised questions about how effective it will be, particularly with regards to China.

China is Iran's biggest trading partner and oil buyer, accounting for over 80% of Iranian oil shipments. Beijing claims its cooperation with Iran is within international law, but critics say it evades sanctions through indirect channels such as ship-to-ship oil transfers.

Analysts warn that the US must balance pressure on Iran with avoiding higher tensions with China, which could harm the American economy. With a planned summit between Trump and Xi Jinping just weeks away, both sides are hesitant to escalate tensions bilaterally.