US Asks China to Help Isolate Iran's Economy, Beijing Refuses

US Treasury Secretary Scott Bessent has warned US allies to join in isolating Iran economically. He said that any country or ally that does not take such steps is choosing to stand against Washington.

US President Donald Trump has announced that he will once again ensnare Iran with new economic sanctions. The aim is to isolate Iran economically. In relation to this, Scott Bessent wants allies to adopt a similar stance and take similar steps to the US.

“This will be the largest coordinated economic isolation in world history. And we will come to them (allies) and say, you are with us or against us,” Bessent said in an interview with CNBC on Thursday (20/8/2026).

When asked whether the US would also pressure China to join in isolating Iran economically, Bessent said there were many conversations that should be held privately. However, Bessent acknowledged that the US has asked China to comply with the request regarding isolating Iran.

He added that the latest sanctions are expected to further squeeze Iran’s economy. The ultimate goal is the fall of the Iranian government.

“This will work in Iran and we will destroy this regime. This will be the largest coordinated economic isolation in world history,” Bessent said.

According to Bessent, with economic sanctions, the US no longer needs to engage in heavy military operations against Iran. “If we apply maximum economic pressure, then it means there will likely be no large-scale kinetic restart, but I would stress that is for now,” he said.