WASHINGTON : US President Donald Trump has hinted that his administration is preparing to impose sanctions on Chinese banks with ties to Iran, a move that could significantly escalate Washington’s efforts to isolate Tehran on the global stage.
During an event in the Oval Office, reporters pressed Trump on whether he would target Chinese financial institutions for their Iran-related transactions. Rather than giving a direct answer, the president responded cryptically: “Who said I’m not doing it?” He added, “You don’t know if I’m doing it or not. I don’t have to declare everything, do I?”
To date, the US Treasury Department has not imposed sanctions on major Chinese banks. However, it has already sanctioned several companies based in China and Hong Kong, accusing them of supporting the Iranian government and its armed forces.
According to foreign news agencies, any move to sanction major Chinese banks would dramatically intensify US efforts to cut off Tehran’s economic lifelines. Such a step would mark a major escalation in US-Iran tensions and directly challenge Beijing’s economic engagement with the Islamic Republic.
The potential threat comes as China remains Iran’s largest trading partner, particularly in the oil sector. Chinese banks continue to process payments related to oil and other bilateral trade transactions between the two countries, putting them at the center of Washington’s crosshairs.
Observers note that imposing sanctions on Chinese financial giants would not only strain US-China relations but also send shockwaves through global energy markets, given China’s dominant role in purchasing Iranian crude.
