China Reacts to US Threat Against Iran's Oil Customers
Beijing on Thursday brushed off the United States’ threats of sanctions on countries that buy Iranian oil.
“China opposes illegal unilateral sanctions without authorization of the United Nations Security Council,” Foreign Ministry spokesperson Guo Jiakun told reporters during the ministry’s regular press briefing.
The remarks came after U.S. Treasury Secretary Scott Bessent said Washington was prepared to impose secondary sanctions over purchases of Iranian oil, describing the move as the “financial equivalent” of the weeks of U.S. and Israeli military strikes on Iran before a temporary ceasefire was reached last week.
“We believe this blockade in the straits-there will be a pause of Chinese buying-but I will tell you that two Chinese banks received letters from the U.S. Treasury…we told them that if we can prove that there’s Iranian money flowing through your accounts then we are willing to put on secondary sanctions,” he told reporters, without identifying the banks.
Newsweek reached out to the Chinese embassy in the U.S. and Iran’s Foreign Ministry via email for comment.
The sanctions threat, alongside the U.S. blockade that began Monday, is part of a maximalist campaign to squeeze Iran's oil revenues-a central pillar of its economy-and pressure Tehran in ongoing negotiations.
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The first round of U.S.-Iran talks in Pakistan ended without agreement on Sunday, with both sides signaling gaps remained over core issues, including limits on Iran's nuclear program and sanctions relief.
The blockade further restricts traffic through the Strait of Hormuz, a key conduit for roughly one-quarter of global seaborne oil and one-fifth of liquefied natural gas, after nearly seven weeks of disruption caused by Iran's closure of the waterway in response to U.S. and Israeli attacks.
No vessels have breached the blockade, and all 10 vessels that attempted to were turned back, the U.S. military's Central Command said Wednesday.
The world’s second-largest economy has a strong interest in keeping the waterway open and energy flows stable.
While Beijing does not officially purchase sanctioned Iranian oil, it remains the destination for more than 80 percent of Iran's crude exports, according to analytics firm Kpler. Iranian oil accounted for about 13.4 percent of China's roughly 10.27 million barrels per day of seaborne imports, typically shipped via so-called "shadow fleet" vessels and offloaded onto other vessels for transfer to Chinese refineries.
“Beijing has built a layered evasion architecture that protects sanctioned oil trade at the two points where Western enforcement is designed to bite hardest: the origin of the cargo and the settlement of value,” the House of Representatives’ House Select Committee on the Chinese Communist Party wrote in a March report.
Although China is less exposed to the shock than many of its neighbors due to its investments in renewable energy, alternative supply sources, and large strategic petroleum reserves, the disruption is pushing up costs for key industries, including fertilizers, transportation, and logistics.
Chinese officials have stepped up calls to reopen the strait. Foreign Minister Wang Yi on Wednesday stressed the need to restore normal shipping during a phone call with Iranian counterpart Abbas Araghchi.
The crisis has tightened global supply and pushed up oil prices, raising concerns about the broader economic impact. The International Monetary Fund warned this week that the conflict could shave more than a percentage point off global growth in a severe scenario.
However, Bessent said the United States would not renew the waivers for Iranian and Russian oil that Washington had issued last month to ease pressure amid sharply rising prices.
Newsweek's reporters and editors used Martyn, our Al assistant, to help produce this story. Learn more about Martyn.
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This story was originally published April 16, 2026 at 9:41 AM.