‘Who Said I’m Not?’: Trump Signals Sanctions On Chinese Banks Over Iran Trade

US President Donald Trump has signalled that Washington could impose sanctions on Chinese banks over their dealings with Iran, potentially marking a significant escalation in the US campaign to economically isolate Tehran.

Trump made the remarks when reporters asked him at an Oval Office event whether his administration was considering sanctions against Chinese banks involved in transactions with Iran.

“Who said I’m not?” he said, cryptically. “I mean, who said I’m not? You don’t know if I’m doing it. Well, I don’t have to announce everything, do I?”

The US Treasury has not yet imposed sanctions on major Chinese banks. However, it has targeted several companies in mainland China and Hong Kong that it accuses of supporting the Iranian government

and armed forces.

The development comes after Treasury Secretary Scott Bessent said this week that the United States was intensifying its efforts to “collapse” the Iranian government through economic sanctions and other measures.

The expanded campaign also includes a broader threat of secondary sanctions against countries that continue conducting business with Iran.

China is Iran’s largest trading partner, with oil forming a particularly important part of their economic ties. Chinese banks continue to process payments connected to oil and other trade between the two countries.

Beijing has opposed US secondary sanctions related to Iran, describing them as “illegal.”

(With inputs from AFP)