China rejects US sanctions threat over Iran trade ties

China denounced US threats of secondary sanctions over its trade with Iran as illegal, vowing to take "all necessary measures" to safeguard national interests. Beijing buys an estimated 80% of Iran's oil exports and has defied previous US efforts to limit revenue to Tehran. The US Treasury announced sanctions on 60 individuals, entities and vessels for alleged Iran trade involvement, but excluded Chinese financial institutions despite their role in financing Iranian oil. Treasury Secretary Scott Bessent said "Why would I want to blow up the global financial system?" Experts note US caution ahead of a Trump-Xi summit next month. China's foreign ministry spokesperson Lin Jian said cooperation with Iran follows international law and should not be disrupted. The US campaign, called Operation Economic Outcast, follows a six-month war that has not achieved Iranian capitulation, with the near-closure of the Strait of Hormuz posing political risks for Trump before November congressional elections.