Trump hints he may sanction Chinese banks for doing business with Iran

US President Donald Trump speaks in the Oval Office of the White House, August 27, 2026, in Washington. (AP/Manuel Balce Ceneta)
US President Donald Trump speaks in the Oval Office of the White House, August 27, 2026, in Washington. (AP/Manuel Balce Ceneta)

US President Donald Trump says the United States is not talking with Iran as Washington focuses on punishing Tehran economically, vowing to penalize countries that do business with the Islamic Republic.

“We don’t want to speak to them. We’re not looking to meet or anything,” Trump tells reporters in the Oval Office.

When asked if he would punish Russia for continuing to do business with Iran, Trump responds: “It depends. So far, I think Russia’s behaved quite well, having to do with the Strait of Hormuz, and you have to understand: for everything they do, we do also. You know, somebody was saying about China. What about China? We hear they’re spying. We spy on them too.”

Then when asked if he will sanction Chinese banks for doing business with Iran, Trump says: “Who said I’m not? You don’t know if I’m doing it… I don’t have to announce everything, do I?”

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