China Denounces US Iran Sanctions as 'Illegal' — SkimNews
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- China's foreign ministry spokesperson Lin Jian denounced the US sanctions threat on Tuesday as 'illegal unilateral sanctions,' warning Beijing would 'take all necessary measures' to protect its interests — though no Chinese financial institutions appeared on the initial list of 60 sanctioned individuals, entities, and vessels.
- US Treasury Secretary Scott Bessent announced 'Operation Economic Outcast,' pledging to 'sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone'; asked why no Chinese sanctions followed immediately, Bessent replied: 'Why would I want to blow up the global financial system?'
- Oil prices fell about 4% to roughly $87 a barrel after the announcement — still far above the prewar average — as traders viewed economic pressure as posing less risk to supplies than further military escalation, though Defense Secretary Pete Hegseth said kinetic strikes remain an option.
- The United Arab Emirates, a close US and Israeli ally, suspended trade ties with Iran in apparent anticipation of the measures, while Turkey, another Iranian trading partner critical of the US campaign, has yet to respond to the sanctions threat.
- An oil tanker was reportedly struck by an unidentified projectile at the mouth of the Strait of Hormuz on Tuesday; only two commercial vessels successfully transited the narrow waterway on Monday, as Iran and Oman held talks on a temporary agreed route through the strait.
- Iran's economy minister Ali Madanizadeh struck a defiant tone on state television: 'Our defence is no longer so defensive; the enemies should wait for an attack,' while analysts Sina Toossi and Andrew Miller said the pivot reflects six months of war achieving neither nuclear disarmament nor regime capitulation.
Why it matters: The US omitted Chinese financial institutions from its initial Iran sanctions despite their role financing Iranian oil, reflecting caution ahead of Trump's upcoming summit with Xi Jinping next month. Beijing, which buys an estimated 80% of Iran's oil exports, has warned of 'all necessary measures' — financial-market or critical-mineral retaliation. The shift toward economic strangulation is itself an admission that six months of military escalation accomplished neither nuclear disarmament nor regime capitulation.
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