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US sanctions 60 entities across China and Hong Kong tied to Iran
The US warned that any entity facilitating Iranian money laundering will be removed from the US dollar system, expanding secondary sanctions after the Strait of Hormuz remained closed.
The United States announced fresh sanctions on 60 entities in multiple countries, including China and Hong Kong, and warned nations to take immediate action if they maintain economic and commercial ties with Iran, according to SCMP Economy.
The measures are part of the Trump administration’s effort to tighten economic pressure on Tehran after military strikes and diplomatic negotiations failed to reopen the Strait of Hormuz and ended up leaving a six month conflict unresolved, the outlet reported.
US Treasury Secretary Scott Bessent said any entity that facilitates money laundering on behalf of Iran will be removed from the US dollar system, describing the US push as expanding secondary sanctions, SCMP Economy added.
Bessent also said President Donald Trump is making phone calls to world leaders with specific requests to halt engagement with the Iranian regime, while not naming which countries were contacted.