Washington Increases Pressure on Tehran, Which Remains Unfazed

Washington is intensifying its pressure on Tehran by announcing new sanctions targeting Iran and its economic partners. The U.S. Treasury Department stated that financial institutions aiding Iran in processing or obscuring its financial flows risk exclusion from the American financial system. These measures follow President Donald Trump's earlier remarks about "actions of historic proportions."

However, Iran's Parliament Speaker Mohammed Bagher Ghalibaf reacted with apparent calm, asserting that the U.S. is not taken seriously and lacks the economic capacity to further limit Iran's international relationships. This response highlights a key challenge for the U.S.: cutting off Iran's primary foreign revenue sources without provoking a new economic confrontation with China, Iran's most significant oil customer.

China's Foreign Ministry spokesperson Lin Jian reiterated that the country's cooperation with Iran adheres to international law and should not be impeded. The U.S. aims for global economic isolation of Iran, with Treasury Secretary Scott Bessent warning that countries and companies continuing business with Iran will face American sanctions. Recent key partners for Iran have included the United Arab Emirates, Iraq, and Turkey, though the UAE recently suspended all trade with Iran.

The timing of the U.S. applying secondary sanctions remains uncertain, especially with Chinese President Xi Jinping scheduled to visit the U.S. in late September. This upcoming visit may temper Washington's willingness to impose sanctions on major Chinese banks at this juncture.