BEIJING says it will take ‘all necessary measures’ to protect its interests as the US steps up efforts to isolate Tehran.
China has denounced the threat of US sanctions for its trade with Iran, saying any such measures would be illegal, and warned it would take ‘all necessary measures’ to protect its national interests.
Beijing’s rejection of the US threat of secondary sanctions for any country or entity continuing to trade with Tehran had been predicted.
China buys an estimated 80% of Iran’s oil exports and has defied previous US efforts to limit the flow of revenue to the Tehran regime.
Its statement of opposition raises the question of how far the Trump administration would be prepared to go in confronting China and its financial system in the drive to isolate Iran.
In making the sanctions threat on Monday, the US treasury secretary, Scott Bessent, announced an initial set of sanctions on 60 individuals, entities and vessels for alleged involvement in trade with Iran.
However there were no Chinese financial institutions on the list, despite their involvement in financing the Iranian oil trade.
The omission reflected US caution.
Asked why the Trump administration had not declared immediate sanctions and had stopped short of naming potential sanctions targets, Bessent replied: ‘Why would I want to blow up the global financial system?’
Financial and trade experts say the administration is well aware of the risk of Chinese retaliation before a scheduled summit next month between Donald Trump and Xi Jinping.
China could strike back through financial markets or with limits on its export of critical minerals.
The spokesperson for China’s foreign ministry, Lin Jian, told reporters on Tuesday: ‘Cooperation between China and Iran has always been conducted within the framework of international law and should not be interfered with or disrupted.
‘China has already stated many times that it firmly opposes illegal unilateral sanctions. China will take all necessary measures to firmly safeguard its own rights and interests.’
