US Sanctions on Iran's Economy Spark Tensions with China

The US has imposed new sanctions on Iran's economy, including digital assets and technology sectors. The Treasury Department expanded its authority to sanction individuals involved in five key sectors of the Iranian economy, including digital assets, technology, gold, aviation, and shipping.

The Treasury also sanctioned nearly 60 entities, individuals, and vessels that support the Iranian regime's nuclear and missile programs. China, however, has warned that these sanctions will only further intensify tensions between the two countries.

Chinese Foreign Ministry spokesperson Lin Jian stated that 'economic warfare and maximum pressure will not help resolve the issue. They will only further intensify tensions and conflicts, create spillover risks.'

China is Iran's largest trading partner and primary purchaser of its oil exports. Iranian oil exports to China have dropped significantly during the war, with shipments falling to below 800,000 barrels per day last month.