US Treasury Secretary Scott Bessent will meet China’s Vice Premier He Lifeng this week to discuss several important issues, including US sanctions targeting Iran. At a House Financial Services Committee hearing on Tuesday, Bessent said fruitful talks have already taken place with China on preventing Iran from evading US sanctions. He said the upcoming meeting with He Lifeng would take that discussion further.
Bessent said the US has already imposed sanctions on three banks over their dealings targeting Iran. The meeting between Bessent and He Lifeng is expected to take place before Chinese President Xi Jinping’s visit to Washington on September 24 and his meeting with US President Donald Trump. One source said the discussion between the two countries could also touch on artificial intelligence. Bessent, however, did not offer details on exactly which issues would be prioritised in the meeting.
The US treasury secretary had earlier spoken of delivering an “economic D-Day,” or a decisive economic blow, against Iran, while also warning of putting Tehran under economic pressure. China is one of Iran’s most important economic partners, buying a large share of Iran’s oil output. Beijing also plays an important role as one of Tehran’s key diplomatic backers.