U.S. Expands Sanctions on Iran, Warns Global Partners; China Threatens Retaliation

The U.S. has unveiled expanded sanctions against Iran, warning other countries to sever business ties or risk being cut off from the dollar-based financial system. In response, China has warned the U.S. that it will retaliate if Chinese companies are targeted by these secondary sanctions, emphasizing its opposition to unilateral sanctions. Iran has stated it is prepared for the sanctions.