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Amid US threats against Tehran's trading partners, Beijing is asserting its firmness while seeking to avoid escalation one month ahead of a scheduled meeting between Xi Jinping and Donald Trump.
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China will not back down. While US President Donald Trump promised an "economic D-Day" against Iran by targeting countries that continue to trade with it, the spokesperson for the Chinese Ministry of Foreign Affairs stated on Tuesday, August 25, that China would defend its "own rights and interests." The state-run China Daily harshly criticized the US strategy: "Washington should discard the wishful thinking that it can compel China to cut economic ties with Iran. If the rest of the world is forced to do the US' bidding, international commerce stops being commerce and becomes permission-based globalization, in which Washington decides who may trade with whom."
The US is now threatening Iran's trading partners with so-called secondary sanctions on exchanges involving gold, technology, aviation equipment and maritime transport. Washington also imposed new sanctions against 60 individuals, companies and vessels accused of helping Iran generate oil revenue, acquire weapons and conduct cyber warfare. The US Treasury specifically targeted Chinese and Hong Kong companies suspected of supporting the Iranian military with their dual-use technologies, such as drones. Chinese banks that facilitate the purchase of Iranian oil are also under US scrutiny.
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