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China Positioned to Pressure Iran on Hormuz Reopening, Bessent Says

U.S. Treasury Secretary Scott Bessent said China will likely use diplomatic channels to push Iran toward reopening the Strait of Hormuz, citing Beijing's substantial economic stake in the waterway.

China, the world's largest crude oil importer, relies on Middle Eastern sources for over half its supply, with roughly 10% coming directly from Iran. Nearly all Iranian crude exports flow to Chinese buyers, creating significant leverage for Beijing.

Iran has blockaded the strategic strait since early March in response to U.S. and Israeli airstrikes that killed Iranian leaders, including Ayatollah Ali Khamenei. The closure has eliminated roughly 20% of global crude oil transit capacity, marking the largest supply disruption on record.

During a Beijing summit Thursday, Presidents Trump and Xi agreed the strait must remain open to energy flows. Xi also opposed militarization of the waterway and toll systems for passage. Tehran has demanded control over the waterway and proposed charging transit fees, which has complicated peace negotiations.