U.S. Treasury Secretary Scott Bessent has called on China to support the latest American efforts to impose economic isolation on Iran following the collapse of negotiations aimed at reopening the Strait of Hormuz and ending a six-month conflict in the region. Speaking to CNBC on Thursday, Bessent emphasized China’s significant reliance on energy imports from the Gulf, noting that about 50 percent of China's energy comes from that area.
Bessent stressed the need for private discussions ahead of Chinese President Xi Jinping’s anticipated visit to Washington in September, highlighting the diplomatic sensitivity surrounding the issue. Official Chinese customs data released Thursday indicated that Gulf countries, primarily Saudi Arabia and the United Arab Emirates, accounted for 27.6 percent of China’s total crude oil imports in July, underscoring Beijing's deep energy ties to the region.
The Treasury Secretary warned that Washington's campaign to isolate Iran economically will force allies and adversaries alike to "choose sides." He described the forthcoming sanctions as potentially "the greatest coordinated economic isolation in the history of the world," asserting that the measures would ultimately undermine the Iranian regime. Bessent indicated he would provide further details during a press conference scheduled for next Monday.
Bessent serves as the U.S. administration's lead negotiator on economic relations with China, currently coordinating with Chinese officials to finalize the agenda and key elements of President Xi’s likely trip to the U.S.
Responding to the situation, the Chinese Embassy in Washington cautioned against the use of sanctions and pressure. Embassy spokesman Liu Chang stated that such approaches fail to resolve conflicts and urged all relevant parties to engage in responsible behavior and seek political and diplomatic solutions.
Meanwhile, U.S. President Donald Trump intensified warnings against Iran on Wednesday, threatening to implement "the most crushing economic operation ever taken against any country." Trump also cautioned other nations against offering Iran any form of economic support, declaring on social media that any country facilitating financial transactions or other forms of assistance would face "tremendous economic consequences." His statement singled out activities such as oil smuggling, cash transfers, ship registrations, and use of front companies.
China remains the largest purchaser of Iranian oil, accounting for over 80 percent of Iran's oil exports in 2025, according to data from analytics firm Kpler.
Iran dismissed the threats from Washington on Thursday, with Iranian officials characterizing the U.S. statements as attempts by President Trump to distract from domestic challenges at home.