US Treasury Secretary Scott Bessent has urged China to support Washington’s sanctions push against Iran, arguing that a reopening of the Strait of Hormuz would lead to lower energy prices benefiting Beijing’s oil-dependent economy. China currently accounts for over 90% of Iranian oil purchases, making it a key target for the US sanctions strategy. The Strait of Hormuz handles roughly 20 million barrels of oil per day, representing about 20% of global petroleum liquids consumption. Bessent’s appeal was strategically timed ahead of a meeting between US President Trump and Chinese President Xi, with the Treasury Secretary framing this as a win-win cooperation rather than a threat.
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