US sanctions Iran's economy, but China's role remains key

The United States announced new sanctions targeting Iran's economy, aiming to isolate Tehran from global markets. US Treasury Secretary Scott Bessent described the measures as a "D-Day" for Iran, following President Donald Trump's similar rhetoric. The sanctions target Iran's Revolutionary Guards' revenue sources, with Bessent warning that institutions facilitating Iranian money laundering would be excluded from the US dollar system. He said a major announcement on financial institution sanctions is expected by week's end, while countries doing business with Iran have time to end their dealings. China, Iran's largest oil buyer, was not named directly, though Bessent stated "no one is beyond the reach of US sanctions." Beijing responded that pressure and sanctions won't solve the problem. The measures come amid a six-month conflict with no visible progress, with the Strait of Hormuz remaining a key dispute point.