US Launches Economic War on Iran, Targeting Chinese Interests

The Trump administration has launched an 'economic D-Day' against Iran, imposing secondary sanctions on nearly 60 companies and individuals that trade with Tehran. Treasury Secretary Scott Bessent called it a campaign of 'secondary sanctions aimed at every country, bank and company that trades with Tehran', with China being the primary target.

The US has already imposed a blockade on Iranian oil exports, but the new sanctions aim to cut off Iran's economic lifeline by targeting Chinese refineries, shipping companies, and banks that buy and move its oil. Bessent warned that 'no one is above the reach of US sanctions' and that the administration will take action against any country or institution that continues to support Iran.

China is the largest buyer of Iranian oil, taking nearly 90% of its exports before the US blockade. The new sanctions are seen as a major escalation in the conflict between the US and China, with some experts warning that it could lead to retaliation from Beijing.