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Secretary Bessent’s remarks just now made it clear that secondary sanctions are central to intensifying US economic pressure on Iran, with "no one above the reach of US sanctions." When reporters pressed on whether China and its entities would be targeted, they were told to wait and see. He noted that the US, using "quiet diplomacy," is making clear to other countries what is expected. He added that he doesn't want to "blow up" the financial system, including asking some "to leave the dollar system," before giving those operating in the "gray areas" time to change. #economy #markets #economicfury #china