China threatened the US with a response to sanctions — detailsBeijing has announced it will retaliate against the significant expansion of US secondary sanctions targeting Chinese firms trading with Iran.This is reported by the Financial Times.“China will take all necessary measures to resolutely defend its rights and interests,” stated Lin Jian, spokesperson for China’s Ministry of Foreign Affairs. He characterized the American restrictions as illegal unilateral sanctions lacking authorization from the UN Security Council.The previous day, the US Department of the Treasury initiated a new economic pressure campaign against Iran, imposing sanctions on nearly 60 individuals, companies, and vessels. The list included participants in Iranian oil networks from mainland China and Hong Kong, although major Chinese banks were not targeted by Washington.China imports approximately 90% of Iran’s oil. State-owned refineries largely adhere to American restrictions, with the primary buyers remaining private refineries, commonly known as “teapots.” The US had previously imposed sanctions on some of these entities, prompting Beijing to instruct Chinese companies not to comply with those limitations.A further escalation of sanctions could spark a new conflict between Washington and Beijing, just a month before a planned meeting between Donald Trump and Xi Jinping. The leaders are set to discuss the continuation of the year-long truce in their trade war.In response, China could employ its own counter-sanctions system or restrict the supply of critical minerals upon which American high-tech manufacturing depends.Wang Dong, a senior fellow at Peking University, noted that it remains unclear whether Washington is truly prepared to extend secondary sanctions to China. According to him, should such a decision be made, Beijing will protect its interests, as it has done during previous trade confrontations.Based on: Ekonomichna Pravda# ChinaPlace for your advertisement