The United States has warned Chinese banks of possible sanctions over financial flows linked to Iran, according to Treasury Secretary Scott Bessent.
Bessent said Washington is closely monitoring transactions connected to Iran and has already sent letters to two Chinese banks. He stated that the US could impose secondary sanctions if it finds evidence that Iranian funds are being routed through their accounts.
“I am not going to identify the banks, but we told them that if we can prove that Iranian money is flowing through your accounts, then we are willing to impose secondary sanctions,” he said.
Bessent added that China had been purchasing more than 90 percent of Iran’s oil exports, which he said accounts for about 8 percent of China’s energy needs. He said the ongoing blockade in the Strait of Hormuz could lead to a pause in such purchases.
The warning forms part of broader US efforts to increase economic pressure on Iran during the conflict. Secondary sanctions would target foreign financial institutions that conduct business with Iran, restricting their access to the US financial system.
Chinese authorities have not immediately responded to the latest warning. The development comes amid continued tensions involving Iran, the United States, and China, with increased focus on financial networks and energy trade.
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