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Who does Iran trade with and what could Trump's 'economic D-Day' mean?
Confirmed
China's foreign ministry said on Tuesday that it firmly opposed the sanctions, calling them illegal.
Not long after Trump's Aug. 19 post on Truth Social vowing to unleash an "ECONOMIC D-DAY" on Iran, a spokesman for China's Foreign Ministry said that China opposed unilateral sanctions and that pressure would not resolve the crisis in Iran. In July, Secretary Bessent said those oil imports plunged by approximately 40% from prewar levels because of the U.S. naval blockade. It said that it was firmly opposed to what it called "illegal unilateral sanctions", that economic pressure tactics would not help resolve problems and that Beijing would safeguard its own interests. Second, the ITC tallies Iran's exports using mostly the import numbers reported by its trading partners - owing to the difficulty in getting up to date export data from Iran. Ali Vaez, deputy director at the International Crisis Group, said: "Anything that moves in Iran has already been sanctioned by multiple layers of sanctions, in fact.
The US has said "the single greatest financial offensive ever" will help it and Israel end their ongoing war with Iran. US Treasury Secretary Scott Bessent said the sanctions against Iran will "tighten the noose and block every potential source of revenue".
What's confirmed
- China's foreign ministry said on Tuesday that it firmly opposed the sanctions, calling them illegal.
- Not long after Trump's Aug. 19 post on Truth Social vowing to unleash an "ECONOMIC D-DAY" on Iran, a spokesman for China's Foreign Ministry said that China opposed unilateral sanctions and that pressure would not…
- The US has said "the single greatest financial offensive ever" will help it and Israel end their ongoing war with Iran.
What's still developing
- Further details were still being reported.