China Defies U.S. Economic D-Day against Iran
China on Tuesday signaled it would not end its ties and trade relations with Iran following the U.S. sanctions unveiled on Monday that target Chinese and Hong Kong entities for helping Iran do business.
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Key Facts
- Fact 1: China is closely following the developments, and will do everything necessary to firmly safeguard its rights and interests.” By Charles Kennedy for Oilprice.com More Top Reads From Oilprice.com Treasury Expands Iran Sanctions Without Targeting Major Chinese Banks Europe Dodges a Rhine Crisis for the Worst Possible Reason Oil Nears $100 as Trump’s ‘Economic D-Day’ Raises the Stakes
China on Tuesday signaled it would not end its ties and trade relations with Iran following the U.S. sanctions unveiled on Monday that target Chinese and Hong Kong entities for helping Iran do business.
On Monday, the U.S. Administration announced a series of new sanctions against individuals and entities linked with Iranian trade and economy, including the shipping and oil industry. However, “Operation Economic Outcast,” launched by Treasury Secretary Scott Bessent, stopped short of sanctioning any Chinese banks.
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Original source: OilPrice.com