Bessent Drops Iran Sanctions Hammer On Dozens Of Chinese Firms, Spares Big Banks As Beijing Threatens Retaliation

Bessent Drops Iran Sanctions Hammer On Dozens Of Chinese Firms, Spares Big Banks As Beijing Threatens Retaliation The Trump administration's "Operation Economic Outcast" has expanded the sanctions campaign across China and Hong Kong, targeting dozens of individuals and businesses while intentionally holding off on sanctioning major Chinese banks that keep Tehran connected to the global financial system. Beijing, meanwhile, signaled earlier Tuesday that it would not retreat from its economic relationship with Iran, raising the risk that Trump's economic war against Tehran could evolve into a direct confrontation with China,...