U.S. Treasury Secretary Scott Bessent announced that Washington will impose the toughest sanctions in history on Iran. While U.S. officials urge Beijing to cooperate, China’s embassy in Washington stated that sanctions will not resolve the conflict.
Scott Bessent Announces Maximum Economic Pressure and Upcoming Press Conference
U.S. Treasury Secretary Scott Bessent stated on Thursday that Washington is preparing to enact the toughest sanctions in history against Iran. Bessent announced that he will host a press conference on Monday to lay out the specific details of the new economic measures.
“It is a one-two punch. We have the blockade (on Iran), and we are going to have the toughest sanctions in history. It is going to work in Iran and we are going to collapse this regime.”
Scott Bessent, U.S. Treasury Secretary, via Reuters
The announcement follows President Donald Trump’s warning on Wednesday regarding severe economic consequences for any nation providing any type of lifeline to Iran. The U.S. campaign aims to resolve a war against Iran it began alongside Israel nearly six months ago.
China Dismisses Sanctions While Supplying Oil Imports
Beijing immediately pushed back against the U.S. financial strategy. A spokesperson for China’s embassy in Washington rejected the utility of economic coercion when responding to the Treasury Department’s plans.
“Regarding the Iran issue, sanctions and pressure do not help resolve the problem. China calls on the relevant parties to take responsible actions and resolve the issue through political and diplomatic means.”
Spokesperson for China’s embassy in Washington, via Reuters
According to 2025 data from analytics firm Kpler cited by Reuters, China purchases more than 80% of Iran’s shipped oil. Bessent argued that Beijing should align with international pressure, noting that the Chinese get 50% (of their) energy from inside the Gulf, making energy stability a shared interest.
Nikki Haley Calls for Direct Pressure on Beijing and Moscow
Former U.S. Amb. to the United Nations Nikki Haley argued that Washington must expand its strategy beyond Tehran to effectively weaken the Iranian regime. Speaking on The Story
on Fox News, Haley urged the administration to hold Russia and China accountable for supplying military assets, including drones and satellite imagery, to Iran.
“He needs to let them know that they will be held accountable, and he will put force on them if they continue to help Iran in this war. And they need to know he’s serious, and he has to be prepared to follow through with it.”
Nikki Haley, former U.S. Amb. to the United Nations, via Fox News
Haley asserted that Iran has never had any intention of negotiating in good faith, suggesting that Tehran utilizes diplomatic talks primarily to buy time while strategizing. Chinese President Xi Jinping and Russian President Vladimir Putin have grown closer amid the war in Iran.
Oil Market Reactions and Tehran Response
Oil prices climbed to more than three-week highs following the economic pressure announcements. Bessent downplayed the market reaction during his remarks, suggesting traders misunderstood the intent behind the policy.
“I think oil markets are misinterpreting what this economic pressure means,”
Scott Bessent, U.S. Treasury Secretary, via Reuters
Bessent further noted that the U.S. has asymmetric information and questioned why oil prices had risen, stating that if the U.S. is applying maximum economic pressure, it likely means there will not be a large-scale kinetic restart.
Iranian Foreign Minister Abbas Araqchi dismissed Trump’s remarks as an attempt to divert American public opinion from domestic financial problems, such as rising interest rates and record debt. Iranian President Masoud Pezeshkian reinforced that stance on social media, writing on X that Iran will stand firm against any pressure.
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