Diplomacy & Geopolitics
Trump hints at Chinese bank sanctions over Iran
US President Donald Trump on Thursday suggested his administration may be preparing sanctions against Chinese banks over transactions linked to Iran, but he did not announce any such measures.
Asked in the Oval Office whether he would sanction Chinese banks over those transactions, Trump replied: “Who said I'm not?” He added: “You don't know if I'm doing it. Well, I don't have to announce everything, do I?”
The comments came as the United States expands its economic pressure campaign against Tehran. Treasury Secretary Scott Bessent this week announced that Washington was stepping up efforts to “collapse” the Iranian government through sanctions and other measures, including a much broader threat of secondary sanctions on countries that continue to do business with Iran.
China is Tehran's biggest trading partner, particularly for oil. Chinese banks continue to handle payments linked to that and other trade between the two countries.
The US Treasury has not issued sanctions against major Chinese banks. It has sanctioned several companies in mainland China and Hong Kong that it accuses of aiding the Iranian government and armed forces.
The United States had already expanded its Iran-related secondary sanctions threat to five sectors: digital assets, technology, gold, aviation and shipping. The Treasury Department said those sectors were used by Iran to support its economy.
China has opposed US secondary sanctions related to Iran as illegal. Chinese foreign ministry spokesman Lin Jian said last week that sanctions and pressure would not help resolve the Middle East conflict and called for political and diplomatic means.
Update
Donald Trump suggested his administration may be preparing sanctions against Chinese banks over transactions linked to Iran.
Trump did not announce sanctions, responding to a question by saying, "Who said I'm not?"
Chinese banks continue to handle payments linked to trade between China and Iran, according to the supplied item.
The US Treasury has not issued sanctions against major Chinese banks but has sanctioned companies in mainland China and Hong Kong it accuses of aiding Iran's government and armed forces.
Source note: AFP news report published on 27 August 2026 at 18:18:48 UTC.
Update
The Treasury Department said the five sectors are digital assets, technology, gold, aviation and shipping.
The Treasury said it had issued determinations against those sectors as part of secondary sanctions pressure on Iran.
Source note: AFP news report published on 24 August 2026 at 17:26:46 UTC.
Update
The United States expanded its Iran-related secondary sanctions threat to five new sectors.
Source note: AFP news report published on 24 August 2026 at 17:03:23 UTC.
Update
The US Treasury said it expanded Iran-related secondary sanctions threats to five sectors: digital assets, technology, gold, aviation and shipping.
The Treasury said the sectors are ones the Iranian government uses to try to support its economy.
Bessent outlined the new measures at a press conference.
Source note: AFP news report published on 24 August 2026 at 17:04:53 UTC.
Update
President Donald Trump said on Truth Social that Iran is “completely collapsing” hours before the US government was set to announce details of sanctions against Tehran.
Source note: AFP news report published on 24 August 2026 at 12:49:54 UTC.
Update
Chinese foreign ministry spokesman Lin Jian said China opposes illegal unilateral sanctions that have no basis in international law and are not authorised by the UN Security Council.
Lin called on relevant parties to use political and diplomatic means to resolve the issue.
Source note: AFP news report published on 21 August 2026 at 08:02:55 UTC.
Update
China said US “sanctions and pressure” on Iran were not a solution.
Source note: AFP news report published on 21 August 2026 at 07:24:53 UTC.
Update
US Vice President JD Vance said economic pressure was now Washington's most effective tool against Iran.
US Treasury Secretary Scott Bessent warned on X that any remaining ties to Tehran would hasten a nation's economic oblivion.
Washington announced new measures against Hezbollah's financing network in Lebanon, citing its ties to Iran's Revolutionary Guards.
Source note: AFP news report published on 20 August 2026 at 21:52:01 UTC.
Update
The United States approved a potential $4.5 billion sale of refueling aircraft to Qatar.
Iran's foreign ministry said the US sanctions threats were “economic terrorism” and “crimes against humanity.”
Bessent said the economic pressure made a large-scale restart of US military operations against Iran less likely “for now.”
Source note: AFP news report published on 20 August 2026 at 19:28:39 UTC.
Update
US Treasury Secretary Scott Bessent said further details of the Iran economic measures would be given at a press conference on Monday.
Bessent called on China to “get with the program” and said some pressure on Beijing was best discussed privately.
Chinese President Xi Jinping is due to visit the White House on September 24, when Iran is expected to be discussed.
A new US aircraft carrier strike group arrived in the Middle East on Wednesday, replacing the USS Abraham Lincoln.
The USS Abraham Lincoln had reportedly suffered food shortages, broken plumbing and suicide attempts during a deployment that began in November 2025.
Source note: AFP news report published on 20 August 2026 at 16:22:16 UTC.
Update
Iran's foreign ministry accused the United States of “economic terrorism” and “crimes against humanity” after Washington said it would ramp up sanctions.
Iran's foreign ministry said the sanctions targeted the fundamental human rights of every Iranian citizen and said those behind them deserved trial and punishment.
Source note: AFP news report published on 20 August 2026 at 16:17:51 UTC.
Update
US Treasury Secretary Scott Bessent said the United States aimed to collapse the Iranian government through new economic pressure.
Bessent said maximum economic pressure meant there likely would not be a large-scale military restart against Iran for now.
Bessent said he would hold a Monday press conference to give details of the new economic pressure campaign.
Source note: AFP news report published on 20 August 2026 at 15:50:58 UTC.
Update
US Treasury Secretary Scott Bessent said allies were being told they were either "with us or against us" on isolating Iran.
Bessent described the planned effort as the greatest coordinated economic isolation in history.
Bessent called on Beijing "to get with the program" while saying many conversations with China were best held in private.
Source note: AFP news report published on 20 August 2026 at 15:27:29 UTC.
Update
The US Treasury chief called on China to "get with the program" on Iran isolation.
Source note: AFP news report published on 20 August 2026 at 15:20:10 UTC.
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US Treasury Secretary Scott Bessent said the sanctions plan aims to "collapse" Iran's government.
Bessent described the plan as the greatest coordinated economic isolation in the history of the world.
Source note: AFP news report published on 20 August 2026 at 15:29:06 UTC.
Update
US Treasury Secretary Scott Bessent said stronger economic pressure on Iran makes a large-scale kinetic restart less likely for now.
Bessent linked the sanctions plan to avoiding a return to heavy military operations against Iran.
Source note: AFP news report published on 20 August 2026 at 15:31:57 UTC.
Update
The United States told allies they were 'with us or against us' on planned economic isolation of Iran.
Source note: AFP news report published on 20 August 2026 at 15:18:34 UTC.
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Trump listed oil smuggling, swap lines, cash transfers, exchange houses, ship registries and front companies as activities he wanted stopped.
Trump did not name any country or specify what punishment third countries could face.
Iran has continued exporting oil despite sanctions, with China described as its biggest buyer.
Tehran operates a sanctioned shadow fleet of tankers, while the additional impact of new sanctions is unclear because of the US blockade of Iranian ports.
Iran's Revolutionary Guards warned Gulf countries against assisting the United States after the UAE said it was severing economic ties with Tehran over attacks on its shipping.
Analysts said Iran appears to expect a prolonged wartime footing and continued US economic pressure.
The Revolutionary Guards warned Saudi Arabia over Tehran's Houthi allies, who have declared a maritime blockade of Saudi Arabia and attacked ships in the Red Sea.
Source note: AFP news report published on 20 August 2026 at 09:39:01 UTC.
Update
Iranian Foreign Minister Abbas Araghchi dismissed Trump's plan on Thursday in a post on X.
Araghchi called the plan a diversion from US debt and interest costs and said US economic pressure threatened the global economy and sovereignty worldwide.
Source note: AFP news report published on 20 August 2026 at 07:23:13 UTC.
Update
Iran criticised Trump's economic pressure plan as more “failed policies”.
Source note: AFP news report published on 20 August 2026 at 06:48:18 UTC.
Update
Trump listed activities he said should stop immediately, including oil smuggling, swap lines, cash transfers, exchange houses, ship registries and front companies.
Treasury Secretary Scott Bessent said last week the United States would increase efforts to isolate Iran economically alongside a US naval blockade.
The US Treasury effort has been called Operation Economic Fury.
Trump said Wednesday that many boats were coming through the Strait of Hormuz.
Axios reported that US forces had been facilitating 15 to 20 ships in and out of the Strait of Hormuz each night in recent weeks, carrying roughly half the pre-war volume of daily oil shipments.
The United Arab Emirates said Tuesday it was suspending all economic dealings with Iran after saying it had been targeted by two ballistic missiles.
Source note: AFP news report published on 20 August 2026 at 00:35:10 UTC.
Update
Trump did not specify what punishment other countries would face.
No country other than Iran was named in Trump's threat.
Treasury Secretary Scott Bessent had said nearly a week earlier that the US would impose economic isolation on Iran.
The announcement came as the war neared its sixth month, with no immediate diplomatic or military off-ramp described.
The item adds context about the Strait of Hormuz blockade, a collapsed framework US-Iran deal and conflicting recent signals about messages or talks.
Source note: AFP news report published on 19 August 2026 at 23:46:39 UTC.
Update
Trump said he was launching a major new campaign targeting Iran's economy.
Trump described the campaign as "Economic Warfare and Isolation" on an unprecedented scale.
Trump said countries allowing financial institutions, businesses, airports or government entities to provide a lifeline to Iran would face economic consequences.
Source note: AFP news report published on 19 August 2026 at 23:20:20 UTC.
Uncertainty notes
Trump's comments did not confirm whether sanctions against Chinese banks have been decided, prepared or will be imposed.
The supplied material does not identify specific Chinese banks that could be targeted.
Source
AFP news report published on .