‘We Will Not Allow China to Buy Iranian Oil’: US Treasury Secretary Scott Bessent

Amid ongoing tensions in the Middle East, the United States has taken a tough stance on China, making it clear that it will not allow Beijing to purchase oil from Iran.

US Treasury Secretary Scott Bessent said that the proposed blockade will ensure that no Chinese or other ships can pass through the Strait of Hormuz.

He stated, “They can take oil, but not Iranian oil.”According to a Reuters report, Bessent described China on Tuesday as an “unreliable global partner.”

He accused China of hoarding oil supplies and restricting the export of certain goods during the Middle East conflict. Bessent compared this to China’s actions during the COVID-19 pandemic when it stockpiled and controlled medical supplies.

Criticising China’s role during the US-Israel-Iran war, Bessent said that the conflict caused oil prices to rise by up to 50 percent and disrupted global supply chains.

He claimed that China has proven to be an unreliable partner on three occasions in the last five years: during COVID with medical supplies, by threatening restrictions on rare earth minerals exports, and now in the case of oil.

Bessent noted that nearly 20 percent of the world’s oil supply passes through the Strait of Hormuz. He alleged that instead of helping balance the global demand shortfall caused by the closure of this critical route, China is continuously stockpiling oil.

He pointed out that China already holds strategic petroleum reserves equivalent to the total reserves of the 32-member International Energy Agency, yet it continues to buy more.

Bessent claimed that China has been purchasing more than 90 percent of Iranian oil, which accounts for roughly 8 percent of its total annual oil imports.

He confirmed that discussions have been held with Chinese officials on this issue. However, he refused to say whether this dispute would affect President Donald Trump’s proposed visit to Beijing in mid-May. He did say that Trump and Xi Jinping share a good working relationship.

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