South Korea assesses Iran sanctions fallout as China defends cooperation

South Korea is assessing how expanded U.S. secondary sanctions on Iran could affect energy costs, trade and financial markets, adding a regional economic dimension to Washington’s pressure campaign. The measures, described as part of “Operation Economic Outcast,” broaden sanctions exposure for third-country firms involved with Iran in digital assets, technology, gold, aviation and shipping. China’s Foreign Ministry spokesperson Lin Jian said China-Iran cooperation has consistently operated within international law and should not face interference or disruption. China buys more than 80 percent of Iran’s oil exports, making Chinese refiners and other companies a potential focus of enforcement and raising the risk of renewed U.S.-China friction. The relationship remains important to Iran’s energy revenue and to China’s energy supply, while complicating efforts by the United States and its allies to isolate Tehran and potentially affecting global energy markets, Middle East stability and international diplomacy.

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South Korea assesses Iran sanctions fallout as China defends cooperation - CoinPost Terminal