Trump administration considers wider sanctions targeting China-linked entities
The Trump administration is preparing new economic measures against Iran that could extend to Chinese banks, independent oil refiners and countries that still trade with Tehran, Reuters reports. Since the Iran war began in February, Washington has expanded maritime, energy and financial restrictions, imposed a naval blockade, and OFAC has sanctioned more than 1,000 people, vessels and aircraft. Officials have already targeted Iran's shadow oil fleet, shipping insurers and digital exchanges, and have frozen about $500 billion in Iran-linked cryptocurrency. Escalating to major Chinese banks or secondary tariffs could deepen global economic and geopolitical risks and risk retaliation from Beijing.
White House may expand sanctions to Chinese banks and oil refiners.
Context
The Iran war began in February and the United States widened sanctions and launched a naval blockade. Treasury and OFAC have sanctioned over 1,000 people, vessels and aircraft. Next steps could include sanctions on Chinese refiners, banks…
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