The United States has warned Chinese banks that they could face secondary sanctions if Iranian funds are traced through their financial systems, as Washington intensifies economic pressure during the ongoing conflict.
US Treasury Secretary Scott Bessent said authorities are closely monitoring global financial flows linked to Iran. He confirmed that the US Treasury has already sent warning letters to two Chinese banks regarding potential violations.
Bessent said the United States is prepared to take action if evidence shows Iranian money moving through foreign financial institutions. “If Iranian money is sitting in your banks, we are now willing to apply secondary sanctions,” he stated.
He added that China had been purchasing a large share of Iran’s oil exports and suggested that the ongoing maritime blockade could lead to a pause in such transactions.
The warning comes as the United States enforces a naval blockade targeting vessels entering or leaving Iranian ports. The measure aims to restrict Iran’s oil trade and financial networks following the breakdown of recent diplomatic talks.
US officials have indicated that secondary sanctions would target foreign banks and entities that facilitate Iranian transactions, potentially cutting them off from the US financial system.
China has not issued an immediate response to the latest warning. The development highlights the expanding scope of the conflict beyond military actions, with increased focus on financial systems, oil trade, and international banking channels.
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