Trump Hints at Sanctions on Chinese Banks Over Iran Business

U.S. President Donald Trump has hinted that Washington may be preparing to impose sanctions on Chinese banks that have dealings with Iran. This potential action represents a significant escalation in the U.S. strategy to isolate Tehran.

U.S. Treasury Secretary Scott Bessent announced earlier in the week that the U.S. is intensifying its efforts to "dismantle" the Iranian government through economic sanctions and other measures. This includes significantly increasing threats of secondary sanctions on countries continuing commercial ties with Iran.

China is Iran's largest trading partner, particularly in the oil sector. Chinese banks continue to process payments related to oil and other bilateral trade. When asked by reporters whether Chinese banks would be sanctioned for such transactions, Trump responded cryptically, "Who says I don't? I mean... you don't know if I'm doing it. I don't have to tell you everything, do I?"

While the U.S. Treasury has already sanctioned multiple companies in China and Hong Kong for allegedly aiding the Iranian government and military, no major Chinese banks have faced sanctions to date. China opposes U.S. secondary sanctions related to Iran, labeling them as illegal.

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Who says I don't? I mean... you don't know if I'm doing it. I don't have to tell you everything, do I?