China has stated it will safeguard its interests following the United States' announcement of expanded economic sanctions against Iran and its trading partners, which include Beijing.
Foreign ministry spokesman Lin Jian declared China's firm opposition to what he termed "illegal unilateral sanctions" and affirmed that the country would take "all necessary measures" to protect its rights. This statement came after U.S. Treasury Secretary Scott Bessent revealed the new measures, warning that any nation financially engaged with Iran would face isolation.
China is identified as the largest purchaser of Iranian oil, though trade volumes have reportedly decreased amidst U.S. actions impacting the Strait of Hormuz. Lin emphasized that China's cooperation with Iran operates within international law and should not be subject to external interference.
Bessent described the new U.S. measures as "the single greatest financial offensive ever" against Iran, cautioning that banks and businesses refusing to sever ties with the country would share in Iran's isolation. While he did not name specific nations, he indicated that U.S. President Donald Trump would contact world leaders with specific requests to cease interactions with Iran.
Responding to inquiries about Chinese banks, Bessent stated, "no one was above the reach of U.S. sanctions." The announcement precedes anticipated talks between President Trump and Chinese President Xi Jinping next month.
Washington is reportedly monitoring for potential retaliation from Beijing, given China's significant role in processing rare earths and other critical minerals essential for high-tech manufacturing. China has previously implemented tighter export controls on rare earths during trade negotiations with the U.S.
Iran's Economy Minister Ali Madanizadeh responded to the sanctions by stating Tehran was "fully prepared" and predicted the measures would result in "another defeat" for the U.S. He indicated that the Iranian government has a two-year plan to manage the impact of these sanctions and possesses its own methods for responding, stating, "We also have our own tools and know how to play the game."