China is in talks with Iran to allow crude oil and Qatari liquefied natural gas vessels safe passage through the Strait of Hormuz as the U.S.-Israeli war on Tehran intensifies, three diplomatic sources told Reuters.
The war, which entered its sixth day on Thursday, has left the critical shipping passageway all-but shut, with countries around the world cut off from a fifth of global oil and liquefied natural gas supplies.
China, which has friendly relations with Iran and relies heavily on Middle Eastern supplies, is unhappy about the Islamic Republic's move to paralyse shipping through the Strait and is pressing Tehran to allow safe passage for the vessels, according to the sources.
The world's second-largest economy gets about 45% of its oil from the Strait.
Ship tracking data showed a vessel called the Iron Maiden passed through the Strait overnight after changing its signalling to 'China-owner,' but far more sailings will be needed to calm global markets.
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