JOURNAL ARTICLE

Bessent Says Chinese Banks Warned About Secondary Sanctions Risk.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Flatley, Daniel 3 of 3

Abstract

The article focuses on the U.S. Treasury's warning to two unnamed Chinese banks about the risk of secondary sanctions if they are found to support transactions linked to Iran. Treasury Secretary Scott Bessent explained that these sanctions target foreign financial institutions facilitating Iranian oil and product purchases, aiming to pressure them to choose between doing business with the U.S. or Iran. This initiative, termed "Economic Fury," complements the U.S. military operation "Epic Fury" against Iran. The issue is particularly sensitive given the upcoming meeting between U.S. President Donald Trump and Chinese leader Xi Jinping. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/04, pN.PAG
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2026
  • Accession Number:193010432
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