The two-day summit of the 10-nation Shanghai Cooperation Organization in Kyrgyzstan shows the limits of U.S. economic warfare.

The US has threatened to isolate nations that continue to do business with Tehran, which sells much of its oil to Beijing.

Beijing will not comply with US measures because it can and because it’s in its interest not to.

The Pentagon's dwindling stockpile of weapons is worrying Asian allies that face threats from China and North Korea.

As Xi Jinping gathered with the leaders of Russia and Iran, Europe challenged the Trump administration at the G20, offering a split-screen view of a changing world.

Treasury Secretary Scott Bessent must calm bond markets, isolate Iran economically and avoid a trade war with China, all while managing a $40tn national debt.

President Trump insists Iran is "begging to make a deal" to end the war, but Tehran, and crucially China, say his economic warfare tactics will fail.

The United States seeks to economically isolate Iran through expanded sanctions. China's continued trade with Tehran complicates these US efforts significantly. Beijing defends its legitimate cooperation and vows to protect its economic interests.