Bull Theory(@BullTheoryio):THE US IS ONE STEP AWAY FROM SANCTIONING CHINESE BANKS OVER IRANIAN OIL China buys around 90% of Iran’s oil exports, mostly through smaller independent refineries. Its imports have fallen from 823,000 barrels per day in July to around 534,000 in August, but it has not stopped buying. Bessent warned that anyone doing business with Iran could be cut off from the US dollar system. But China says sanctions are not the way to resolve the issue and has vowed to protect its own interests. If China continues buying Iranian oil, the US could target major Chinese banks, turning sanctions on Iran into a direct clash with Beijing.

2026.08.24 18:29

THE US IS ONE STEP AWAY FROM SANCTIONING CHINESE BANKS OVER IRANIAN OIL China buys around 90% of Iran’s oil exports, mostly through smaller independent refineries. Its imports have fallen from 823,000 barrels per day in July to around 534,000 in August, but it has not stopped buying. Bessent warned that anyone doing business with Iran could be cut off from the US dollar system. But China says sanctions are not the way to resolve the issue and has vowed to protect its own interests. If China continues buying Iranian oil, the US could target major Chinese banks, turning sanctions on Iran into a direct clash with Beijing.