# China needs U.S. dollars but is building a hedge against Washington’s sanctions

https://mins.news/en/item/32003

- CNBC, 2026-08-25 16:00 UTC
- Economy
- Original: https://www.cnbc.com/2026/08/25/china-iran-us-sanctions-banks-cips.html

> The United States can pressure Chinese banks over Iran by leveraging their access to the U.S. financial system. Beijing is meanwhile developing alternatives, including the Cross-Border Interbank Payment System, or CIPS.

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