Iran on Saturday slammed US plans to announce new sanctions that could put further strain on the Islamic Republic’s economy and could have an impact on its most important trading partners, including China.
After nearly six months of war since the US and Israel launched airstrikes against Iran on February 28, the sides were not firing at each other but showed no sign of pursuing peace talks.
Oil shipments were at a virtual standstill in the Strait of Hormuz, with Tehran threatening to strike any unauthorized oil tankers that tried to transit the vital waterway, and Iran’s economy was already under immense pressure from sanctions.
US Treasury Secretary Scott Bessent was due to hold a press conference at 2 p.m. on Monday after threatening “the toughest sanctions in history” on Iran.
Bessent has also urged cooperation with Washington by China, which bought more than 80% of Iran’s shipped oil, according to 2025 data from analytics firm Kpler. Beijing has urged diplomacy.
