According to a CNBC report, US Treasury Secretary Scott Bessent, in an interview on August 20, openly urged China to “get on board” with Washington’s so-called “toughest economic action in history” against Iran, aiming to further isolate Iran’s economy and “dismantle the regime.”
Bessent noted that President Trump had previously announced the launch of “the most severe economic action against any country in history,” describing it as an “economic war and isolation of unprecedented scale.”
He added that in Washington’s latest isolation push, both allies and adversaries would be forced to choose sides.
“This will be the largest, most coordinated economic isolation effort in history. We’re telling them: either you’re with us, or you’re against us,” he claimed.
Bessent stated that the US goal is to “crush the economy of this murderous regime” through maximum economic pressure, weaken its ability to project power through proxies, and ultimately “dismantle the regime.”
When asked whether the new sanctions would involve China, Bessent declined to give specifics, saying “many conversations are best held privately,” but he made clear that Chinese cooperation is expected. Citing data, he said about 50% of China’s energy comes from the Gulf region, so “getting on board would greatly benefit them,” and noted that everyone wants the Strait of Hormuz reopened to lower energy prices. Bessent also revealed that a press conference would be held next Monday (August 24) to detail the measures.
The remarks come roughly six months into the US-Iran conflict. According to US media analysis, the Trump administration is shifting from military pressure to economic tactics, against a backdrop of rising domestic discontent over the war’s toll and the approaching midterm elections. The US has already imposed a blockade on Iran and plans to layer on “the harshest sanctions ever” as a so-called “combined punch.”
On August 19, Trump warned that any country providing Iran with “any form of lifeline” would face economic consequences. Bessent indicated that maximum economic pressure means “a large-scale resumption of military operations is unlikely at this point.”
It’s worth noting that China is one of Iran’s major oil buyers — according to relevant data, China purchases more than 80% of Iran’s seaborne oil exports. China’s Foreign Ministry has previously voiced opposition to US actions, clearly stating that sanctions and pressure do not help resolve issues and do not conform to international law or basic norms of international relations.
Iran’s Foreign Ministry issued a formal statement on August 20, strongly condemning Washington’s new round of economic and trade sanctions, labeling them “economic terrorism” and “crimes against humanity,” and accusing the US of targeting ordinary Iranian citizens in serious violation of international humanitarian obligations.