China warns it will safeguard its interests after US widens sanctions against Iran

China has vowed to protect its interests after the US confirmed aims to widen economic sanctions against Iran and its trading partners.

Key points

• This came after US Treasury Secretary Scott Bessent confirmed the new measures on Monday, warning any nation financially partnering with Iran would be isolated.
• China's response followed Iranian Economy Minister Ali Madanizadeh saying Tehran was "fully prepared" for the wider sanctions.
• The announcement comes ahead of planned discussions between Trump and Chinese President Xi Jinping next month.
• Foreign ministry spokesman Lin Jian remarked China was firmly resisted to what it called "illegal unilateral sanctions" and would take "all necessary measures" to safeguard its rights.
• Although the trade has declined under the US blockade of the Strait of Hormuz, china is the biggest buyer of Iranian oil.

Lin remarked: "Cooperation between China and Iran has always been conducted within the framework of international law and should not be interfered with or disrupted."

Bessent described the new measures as "the single greatest financial offensive ever" against Iran, warning banks and businesses would share in Iran's isolation if they refused to cut ties with the country.

He declined to focus on specific nations, but remarked US President Donald Trump would be phoning world leaders "with specific requests to cease their interactions with the regime".

Nevertheless, responding to a question concerning Chinese banks, Bessent noted he wanted to produce clear "no one was above the reach of US sanctions".

For context, the announcement comes ahead of planned discussions between Trump and Chinese President Xi Jinping next month.

Washington is projected to be wary of potential retaliation from Beijing. It processes most of the world's rare earths and other critical minerals, crucial in the manufacture of numerous high-tech products.

Beijing has already tightened export controls on rare earths as part of previous trade negotiations with the US.

China's response followed Iranian Economy Minister Ali Madanizadeh saying Tehran was "fully prepared" for the wider sanctions. It he remarked would lead to "another defeat" for the US.

"The government is and was ready and has a two-year plan to manage these events, " he informed state television, adding Tehran had been "waiting for these plans for a long time".

"We also have our own tools and know how to play the game, " he remarked.

In short, china warns it will safeguard its interests after US widens sanctions against is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.