Archive · 31 Aug 2026
Bessent Says Iran Sanctions Can Work Without China
The United States is using sanctions to put pressure on Iran’s economy.
Sanctions are rules that make it harder for a country to trade or use money internationally.
Scott Bessent said the plan can work even if China does not help.
China buys much of Iran’s oil and has criticized what it calls unlawful unilateral sanctions.
Bessent said Iran has only a limited amount of oil left that can be delivered.
He also said the United States may punish another bank connected to Iran.
Bessent believes the pressure could seriously damage Iran’s economy within weeks or months.
He said Iran’s leaders could prevent that by changing their actions.
U.S. Treasury Secretary Scott Bessent said sanctions targeting Iran’s financial enablers can work without Chinese cooperation.
Bessent said only about 30 million Iranian oil barrels remain on the water because of the blockade.
China, Iran’s top trade partner and oil buyer, opposes unilateral sanctions it says lack a basis in international law.
Bessent said the Trump administration could announce sanctions against another Iranian-linked bank this week.
He said international pressure could make Iran’s economy collapse within weeks or months, though Tehran could avoid that by changing course.
- Who
- U.S. Treasury Secretary Scott Bessent, the Trump administration, Iran, and China.
- What
- The United States is seeking to isolate Iran economically through sanctions on financial institutions and other enablers.
- When
- Bessent made the remarks on Monday; another bank sanction could be announced this week.
- Where
- The comments were made in an interview and during the Group of 20 finance ministers’ meeting; the measures target Iran’s international economic links.
- Why
- The United States aims to pressure Iran over its actions and prevent it from accessing global finance; Bessent also cited concerns that Iran must not obtain a nuclear weapon and that the Strait of Hormuz must remain open.
U.S. Sanctions Strategy
China’s Stated Position
Can sanctions work without China?
U.S. Sanctions Strategy
Bessent said the United States can pressure Iran successfully even without Chinese cooperation, citing Iran’s limited remaining oil shipments and its financial vulnerabilities.
China’s Stated Position
China is Iran’s top trade partner and oil buyer, and its cooperation would affect the reach of any effort to isolate Iran economically.
Legitimacy of unilateral sanctions
U.S. Sanctions Strategy
The United States is asking other countries to support intensified sanctions targeting Iran’s financial enablers.
China’s Stated Position
China has publicly opposed what it calls illicit unilateral sanctions that lack a basis in international law.
Areas of possible agreement
U.S. Sanctions Strategy
Bessent said China agrees that Iran must not obtain a nuclear weapon and that the Strait of Hormuz should remain open to fair ship transit.
China’s Stated Position
Although China publicly opposes the sanctions, Bessent suggested Beijing may be less resistant privately and said the two countries have more in common on Iran than they disagree about.
- U.S. official
- Scott Bessent, U.S. Secretary of the Treasury
- Iran’s main trade partner and oil buyer
- China
- Oil remaining on the water
- Approximately 30 million Iranian barrels, according to Bessent
- Potential new measure
- Sanctions against another bank could be unveiled this week
- Expected economic impact
- Bessent said Iran’s economy could collapse within weeks or months
- China’s stated position
- Beijing opposes illicit unilateral sanctions without a basis in international law
- Diplomatic setting
- Bessent is expected to ask G20 counterparts to join efforts to cut Iran off from the global economy