US sanctions Chinese entities, issues global warning on ‘Economic D-Day’ against Iran
The United States on Monday announced fresh sanctions against 60 entities, individuals and vessels around the world, including some in mainland China and Hong Kong, and issued a warning demanding “immediate action” from nations maintaining economic and commercial ties with Iran.
The measures are part of the Trump administration’s latest efforts to choke off Tehran economically after military strikes and diplomatic negotiations failed to reopen the Strait of Hormuz and end the six-month-long conflict.
Dubbed “Economic D-Day” by the Trump administration, the new actions aim to expand Washington’s secondary sanctions, putting entities in multiple jurisdictions on notice.
“Let me be clear: any entity that facilitates money laundering on behalf of Iran will be removed from the US dollar system. The clock just started ticking,” said US Treasury Secretary Scott Bessent at a press conference.
Bessent added that US President Donald Trump is “making phone calls to world leaders with specific requests” to halt their engagement with the Iranian regime, but did not identify the countries he had contacted.
The campaign’s effectiveness may ultimately depend on how far Washington is willing to press China, Iran’s most important remaining economic partner.