China bucks Bessent's threats of 'Economic D-Day' on countries buying oil from Iran

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Chinese Foreign Ministry spokesperson Lin Jian said Tuesday the latest U.S. sanctions on Iran “will only further intensify tensions” between the two countries.

“Economic warfare and maximum pressure will not help resolve the issue. They will only further intensify tensions and conflicts, create spillover risks,” Lin told reporters, according to CNN.

The Treasury Department announced Monday it was expanding its authority to sanction individuals involved in five sectors of the Iranian economy: digital assets, technology, gold, aviation and shipping.

The Treasury Department also sanctioned nearly 60 entities, individuals and vessels that “enable the Iranian regime’s recklessness, including illicit nuclear and missile technology procurement, cyber operations, and oil-revenue generation networks,” the department noted in a release.

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But China is Iran’s largest trading partner and primary purchaser of its oil exports. Iranian oil exports to China have dropped precipitously during the war, falling to below 800,000 barrels per day last month, Reuters reported.

Lin, the Chinese Foreign Ministry spokesperson, noted his country’s relationship with Iran “should not be disrupted or undermined” by U.S. economic interference.

“China is closely following relevant developments and will take all necessary measures to firmly safeguard its own rights and interests,” he added, per CNN.

Trump and Chinese President Xi Jinping are scheduled to meet in Washington, D.C., next month, during a state visit by the Chinese leader. The U.S. president is seeking a trade deal with his Chinese counterpart, under which Beijing would boost purchases of American agricultural products, Boeing jets and U.S. oil.

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