Iran's Ghalibaf welcomes China’s rejection of new US sanctions, Pezeshkian says US economic pressure would 'fail'

Iranian Parliament Speaker Mohammad Bagher Ghalibaf has publicly welcomed China’s firm opposition to the Trump administration’s latest sanctions campaign against Tehran, describing Beijing’s stance as a “principled statement” against what he called illegal measures.

In a post on X, Ghalibaf wrote: “We welcome China’s principled statement rejecting illegal sanctions against Iran. The Iran-China comprehensive strategic partnership is rooted in mutual respect, win-win cooperation, and a shared vision for a multipolar world. This relationship needs no one’s permission.”

The remarks followed the US Treasury Department’s announcement on August 24 of “Operation Economic Outcast,” unveiled by Treasury Secretary Scott Bessent.

The campaign targets more than 60 entities, individuals, and vessels linked to Iran’s oil smuggling, nuclear and missile programs, cyber operations, and related networks.

It also expands secondary sanctions risks in sectors including digital assets, technology, gold, aviation, and shipping, aiming to further isolate Iran economically and pressure its trading partners.

China, Iran’s largest oil buyer and key economic partner under a 25-year comprehensive strategic partnership agreement signed in 2021, rejected the measures.

A Chinese Foreign Ministry spokesperson stated that Beijing is “firmly against sanctions that have no basis in international law or UN Security Council mandate,” describing them as economic warfare that fuels tensions and disrupts global order.

China affirmed that its cooperation with Iran complies with international law and pledged to take “all necessary measures” to protect its rights and interests.

US officials and supporters have described the pressure as increasingly effective in constraining Iran’s economy, while critics have questioned the practical enforceability of secondary sanctions against major partners like China.

Ghalibaf serves as Speaker of Iran’s Parliament (Majlis) and Iran’s special envoy for China affairs — a role elevated to deepen strategic and economic ties with Beijing.

A veteran politician with a background in the Islamic Revolutionary Guard Corps (IRGC), former police chief, and Tehran mayor, he has also acted as a key negotiator in recent talks with the United States.

His public statements frequently emphasise multipolarity, resistance to unilateral pressure, and the prioritisation of economic partnerships that bypass Western systems.

Earlier comments from Ghalibaf have mixed defiance with acknowledgment of economic realities.

He has dismissed some US threats as ineffective “bombast,” asserting that Iran’s trading partners would not abandon it and that the US is not in a position to fully restrict those ties.

In other remarks, he has rejected the idea that sanctions are meaningless “scraps of paper,” while stressing the need for Iran to shift focus from military confrontation toward economic development and deeper China ties to ease pressure on the population.

He has also promoted mechanisms such as local-currency trade to circumvent restrictions.

Pezeshkian on the Iranian economy

Iranian President Masoud Pezeshkian addressed the economic situation in a meeting at the Central Bank of Iran on August 26, attended by Economy Minister Ali Madanizadeh, Central Bank Governor Abdolnaser Hemmati, and economists.

Amid what he described as conditions of war, economic blockade, and external pressures, Pezeshkian stressed the need for full coordination among economic institutions to maintain stability and contain inflationary expectations, particularly in foreign-exchange and monetary markets.

He expressed confidence that US economic pressure would fail: “With the measures that the government’s economic sectors have foreseen, America will not achieve anything with economic pressure at this stage, just as it was unable to achieve anything in the war.”

Pezeshkian reiterated Iran’s preference for resolving issues through interaction and negotiation while standing firm against pressure.

The exchange underscores Iran’s reliance on China as a counterweight to Western sanctions, even as Tehran faces ongoing economic challenges from prolonged isolation and recent escalations.

Developments continue to unfold, with potential implications for global energy markets and secondary sanctions enforcement.