US threatens China with sanctions if it insists on doing business with Iran

Washington (ANTARA) - The United States has warned China and other countries of the heightened risk of secondary sanctions if they do business with Iran, as Washington launches a new campaign to sever Iran’s vital economic lifelines.

US Treasury Secretary Scott Bessent said the ‘Operation Economic Outcast’ campaign focuses on five sectors of the Iranian economy: digital assets, technology, gold, aviation, and shipping.

‘Those who stand with the United States will reap the benefits of our partnership. Those who bind themselves to the Iranian regime must be prepared to share in the isolation experienced by that failing regime,’ Bessent said at a press conference in Washington D.C. on Monday (24/8).

He stressed that no party is immune to US sanctions. Bessent also emphasised that any entity or country, including China as Iran’s main trading partner, could be targeted in the new US operation.

‘Every country has a set deadline to cease the activities we have identified. If they do not take action, then we will act unilaterally through the authority of the US Treasury Department,’ Bessent said.

However, the Trump administration did not disclose details of its latest efforts to exert economic pressure.

‘We will not name specific names,’ Bessent said.

It remains unclear how the newly announced plan to block Iran’s revenue sources will differ from previous US efforts.

In addition to announcing possible secondary sanctions, Bessent said the US has decided to impose sanctions on around 60 entities, individuals, and vessels worldwide for enabling the Iranian regime to acquire illegal nuclear and missile technology, conduct cyber operations, and generate revenue from oil.

The threat comes amid President Donald Trump’s ongoing efforts to reach a deal with Iran to end a conflict that has lasted nearly six months, and just one month before Chinese President Xi Jinping’s planned visit to the White House.