China warns US of retaliation over Iran sanctions impact

China warned the US on Tuesday that it would retaliate with "all necessary measures" if its companies are hit by new US secondary sanctions on Iran, vowing to safeguard its economic interests. Chinese Foreign Ministry spokesman Lin Jian reiterated Beijing's opposition to "illicit unilateral sanctions" lacking UN authorization, while the US stopped short of listing major Chinese banks. Treasury Secretary Scott Bessent defended the sanctions as the "greatest financial offensive" against Iran, insisting "no one is above the reach of US sanctions." China is Iran's largest oil buyer, with private refiners continuing trade despite western restrictions. The dispute adds tension ahead of President Trump's summit with Xi Jinping next month, while Iran has threatened retaliatory attacks on US economic targets globally.