Trump Hints at Possible Sanctions on Chinese Banks over Iran Ties
Asked by reporters at the Oval Office whether the United States would sanction Chinese banks involved in transactions with Iran, Trump declined to rule out the possibility.
ERBIL (Kurdistan24) – US President Donald Trump on Thursday hinted that his administration may be preparing sanctions against Chinese banks over their financial ties to Iran, potentially marking a major escalation in Washington’s campaign to economically isolate Tehran.
Asked by reporters at the Oval Office whether the United States would sanction Chinese banks involved in transactions with Iran, Trump declined to rule out the possibility.
“Who said I’m not?” Trump said. “I mean, who said I’m not? You don’t know if I’m doing it. Well, I don’t have to announce everything, do I?”
The remarks come after US Treasury Secretary Scott Bessent said this week that Washington was intensifying its campaign to “collapse” the Iranian government through economic sanctions and other measures.
The administration has also significantly expanded its threat of secondary sanctions against countries and entities that continue to conduct business with Iran.
China is Iran’s largest trading partner and a major buyer of Iranian oil. Chinese banks play an important role in processing payments linked to bilateral oil and other trade.
The US Treasury has not so far imposed sanctions on major Chinese banks over their dealings with Iran, although it has sanctioned several companies based in mainland China and Hong Kong that Washington accuses of supporting the Iranian government and armed forces.
Any sanctions targeting major Chinese financial institutions would represent a significant escalation in US-China tensions and could further disrupt Iran’s ability to sell oil and access international financial channels.
Beijing has repeatedly rejected US secondary sanctions against Iran as “illegal,” arguing that Washington has no authority to impose its domestic laws on other countries.