Bessent warns China over Iranian oil purchases
On.cc · 2 SOURCESabout 3 hours ago2 MIN
Summary
US Treasury Secretary Scott Bessent said on Sunday that Washington could impose sanctions over Beijing's continued purchases of Iranian oil, while preparing fresh action against another bank with business ties to Tehran. He said he would meet G20 finance officials, including representatives from China, in North Carolina on Monday to encourage cooperation in responding to Iran.
Key Points
- Bessent said the US Treasury would sanction another bank this week for dealings with Tehran, after earlier announcing action against the UAE branch of an Egyptian bank linked to Iran.
- In remarks reported by both outlets, Bessent said the US would use "financial force" if necessary to deepen Iran's economic isolation and show other countries Washington's resolve.
- He rejected suggestions that the United States was unwilling to confront China, calling that a mistaken media description of Washington's position
- Bessent said the US and China both agreed on the need to reopen the Strait of Hormuz and prevent Iran from developing nuclear weapons.
- He said all options remained under consideration, including sanctions tied to Beijing's continued imports of Iranian oil, ahead of Monday's G20 finance meeting in North Carolina.
Why It Matters
Any move to sanction Chinese purchases of Iranian oil would add pressure to US-China relations while widening the economic campaign against Tehran. For Hong Kong readers, the issue matters because tighter US financial enforcement can affect regional banking sentiment and the wider China-related trade environment.