
President suggests possible financial penalties ahead of upcoming summit with Xi Jinping
President Donald Trump hinted at potential sanctions against Chinese banks for dealings with Iran, days after his administration announced 'Economic D-Day' measures targeting entities facilitating money laundering for Tehran amidst ongoing regional conflict.
AI-generated summary
The US is seeking to increase economic pressure on Tehran following failed diplomatic and military efforts to reopen the Strait of Hormuz. A bilateral summit between the US and China is scheduled to take place in Washington in the coming weeks.
US President Donald Trump on Thursday hinted at sanctioning Chinese banks over their commercial links with Iran, just weeks before Chinese leader Xi Jinping is expected to visit Washington for a bilateral summit.
“Who said I’m not?” Trump said in response to a reporter’s question about why the US had not sanctioned Chinese banks for their dealings with Iranian entities.
“Well, I don’t have to announce everything, do I?”
“Let me be clear: any entity that facilitates money laundering on behalf of Iran will be removed from the US dollar system. The clock just started ticking,” Bessent said at a press conference on Monday. The administration dubbed the new actions “Economic D-Day”.
The measures were part of the administration’s attempt to put further economic pressure on Tehran after military strikes and diplomatic negotiations failed to reopen the Strait of Hormuz or bring the six-month conflict to an end.
AI outlook — possibilities, not facts
US administration to evaluate specific Chinese banks for sanctions.
Likely · Within weeks

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