China vows to protect its rights as US readies Iran sanction

(Corrects time of press conference in paragraph 2) BEIJING, Aug 24 (Reuters) - China's foreign ministry said on Monday Beijing will closely watch developments and do what is necessary to protect its rights as the U.S. prepares to unveil new Iran sanctions that are expected to target Tehran's trading partners. U.S. Treasury Secretary Scott Bessent, who is set to hold a press conference at 1 p.m. EDT (1700 GMT) on Monday, has threatened to impose "the toughest sanctions in history" on Iran and urged China to cooperate with Washington.