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WHEN YOU START A WAR AGAINST YOUR MILITARY ADVISORS ADVICE THEN FIRE THEM ALL Bessent Warns New Bank Sanctions This Week As China Defies Pressure On Iran TradeU.S. Treasury Secretary Scott Bessent says Washington could announce fresh bank sanctions this week as part of a wider campaign to cut Iran off from the global financial system. The warning includes possible action against institutions tied to Iran’s remaining money channels, with officials stressing that no country is automatically off limits, including China. Beijing has pushed back hard, saying it will keep doing business with Iran, reject what it calls illegal unilateral sanctions, and take steps to protect its own interests. China remains Iran’s biggest oil buyer, which is why this standoff matters for markets, energy prices, and U.S.–China relations.