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Trump's New Economic Squeeze on Iran Has a Big Challenge: China
Operation Economic Outcast threatens tougher sanctions on countries that keep buying Iranian oil, as China takes 90% of Iran’s crude exports, officials said.
- On Monday, the Treasury Department sanctioned nearly 60 Iran-linked entities for supporting Tehran's nuclear and missile programs, targeting individuals and businesses in mainland China and Hong Kong, including a China-owned crude oil tanker.
- The Trump administration launched 'Operation Economic Outcast' to intensify pressure on Tehran as China purchases 90 percent of Iranian crude exports, totaling about 500,000 barrels per day to sustain Iran's economy.
- Officials avoided specific actions against Beijing to protect the upcoming summit between President Donald Trump and Chinese leader Xi Jinping, despite sanctioning a Hong Kong-based firm managing the shadow fleet exporting Iranian oil.
- Chinese Foreign Ministry spokesperson Lin Jian warned that China-Iran cooperation 'should not be disrupted or undermined,' while Edgard Kagan, senior adviser at the Center for Strategic and International Studies, said Beijing aims to comply minimally to avoid direct confrontation.
- With a planned summit between Trump and Xi next month, neither side wishes major escalation at this point, as both nations prioritize maintaining the fragile trade truce between the United States and China.
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15 Articles
15 Articles
The Toronto Star+2 Reposted by 2 other sources
Trump’s new economic squeeze on Iran has a big challenge: China
WASHINGTON (AP) — The “ economic onslaught ” that Treasury Secretary Scott Bessent has declared on Iran's financial connections around the world may have one major caveat: China.
·Toronto, Canada
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China, Iran shrug off US threats of economic war
The principal targets of a US effort to use economic leverage to end the Iran war largely shrugged off Washington’s announcement. The US Treasury secretary yesterday threatened wide-ranging secondary sanctions against countries doing business with Iran, but he didn’t outline any specific sanctions against Chinese banks: Beijing is the main buyer of Iran’s oil, and the economic plan consequently had a “China-sized hole,” Semafor’s climate and ene…
·New York, United States
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Total News Sources15
Leaning Left7Leaning Right2Center4Last UpdatedBias Distribution54% Left
Bias Distribution
- 54% of the sources lean Left
54% Left
L 54%
C 31%
15%
Factuality
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