China warned that it would “take all necessary measures” and retaliate against the US if any of its companies are included in the Trump administration’s new secondary sanctions targeting Iran.
Companies based in Hong Kong and mainland China were among the entities targeted by the US after Treasury Secretary Scott Bessent announced “Operation Economic Outcast” on Monday to further isolate Iran.
The US, however, stopped short of listing large Chinese financial institutions, with Beijing — Iran’s largest oil buyer — warning that it will do whatever it takes to protect its economic interests.
“China will take all necessary measures to firmly safeguard its rights and interests,” Chinese Foreign Ministry spokesman Lin Jian told reporters on Tuesday.
“China has made clear on many occasions its firm opposition to illicit unilateral sanctions that have
no basis in international law or the authorization of the UN Security Council,” he added.
China stands as Iran’s biggest trading partner, and while its state-owned refiners largely abide by the western sanctions on Tehran’s crude, Beijing allows its private sectors to do business as they will.
Lin maintained that China’s business with Iran will continue uninterrupted while also calling for the war to end and for the Strait of Hormuz to reopen.
“Cooperation between China and Iran has always been conducted within the framework of international law and should not be interfered with or disrupted,” Lin said.
Bessent defended the expanding US sanctions as “the single greatest financial offensive ever” against Iran that would lead to the collapse of the current regime.
When asked by reporters if Chinese banks would be hit by the new penalties, Bessent insisted that “no one is above the reach of US sanctions.”
Beijing’s opposition to the sanctions could further muddy US-China relations ahead of President Trump’s summit with China’ Xi Jinping next month.
Iran, meanwhile, has warned that America’s economic war against Tehran will result in retaliatory attacks not only on military targets in the region, but also on financial institutions.
“All of America’s economic targets and its partners around the world, and especially in the region, are considered military targets of the enemy and are targetable!” Iran-China Chamber of Commerce and Industries head Majidreza Hariri wrote on X.
With Post wires
