Beijing has issued a clear warning to the United States, stating that it will take retaliatory measures if Chinese companies are included in a significant expansion of secondary sanctions imposed by the Trump administration regarding Iran. The sanctions announced by U.S. Treasury Secretary Scott Bessent target companies based in Hong Kong and mainland China, but do not affect major Chinese financial institutions.
Such an expansion of sanctions could trigger a major crisis in relations between the two countries, with only a month before the meeting of Presidents Donald Trump and Xi Jinping in Washington, a summit considered crucial for the global economy. A spokesperson for the Chinese Foreign Ministry emphasized China's firm opposition to unilateral U.S. sanctions, calling for a reduction in tensions and a return to dialogue. Although state refiners in China comply with the sanctions, Beijing allows private refiners to import oil from Iran, and China has built a system to counteract sanctions in recent years.
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