Beijing has stated that Chinese-Iranian economic cooperation is conducted in accordance with international law and should not be subject to interference, Bloomberg reports.
The statement was made on August 25 by Chinese Foreign Ministry spokesperson Lin Jian. According to him, Beijing opposes unilateral sanctions and believes that economic pressure cannot resolve the conflict surrounding Iran. China called on the parties to return to negotiations and seek a political settlement.
China remains Iran’s key economic partner
Beijing’s strong reaction is primarily driven by economic considerations. China is the largest buyer of Iranian oil: according to Bloomberg, before the current conflict began, China accounted for about 90% of Iran’s oil exports. Therefore, Washington’s attempt to cut off Tehran’s economic ties inevitably affects Chinese businesses.
On Monday, U.S. Treasury Secretary Scott Bessent announced an expansion of sanctions pressure on Iran. Washington also warned countries and companies that continue to maintain economic relations with Tehran of possible secondary sanctions.
As reported by Logos Press, U.S. President Donald Trump had previously announced “the most devastating economic operation ever carried out against any country!” He warned that any country that cooperates with Iran “will face enormous economic consequences itself.”
However, in the published package of measures, the U.S. authorities have not yet imposed direct, large-scale sanctions on the Chinese financial system. Chinese financial institutions were not included in the initial list of new restrictions, reflecting the difficulty Washington faces in simultaneously pressuring Iran and maintaining relations with Beijing.
The sanctions conflict could affect the global economy
For China, the issue of trade with Iran is not limited to bilateral relations. Any significant restriction on Chinese purchases of Iranian oil could affect the energy market, logistics, and financial transactions involving companies from both countries.
At the same time, Beijing shows no willingness to turn the situation into a direct economic confrontation with Washington. China has limited itself to warning that it will protect its interests and calling for a political settlement.
Bloomberg notes that China’s relations with Iran are largely pragmatic in nature, and Beijing’s support for Tehran has so far been predominantly economic and diplomatic, rather than military.
Thus, the further development of the sanctions campaign will depend not only on the U.S.’s ability to restrict Iran’s trade with other countries, but also on how far Washington is willing to go in imposing secondary sanctions against Chinese companies and financial institutions.
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