Us Treasury Secretary Says China to Quietly Seek Reopening of Strait of Hormuz

U.S. Treasury Secretary Scott Bessent said Thursday that China is expected to use its influence with Iran behind the scenes to help reopen the strategically vital Strait of Hormuz, arguing that Beijing has a far greater economic interest in restoring energy flows than the United States.

Speaking in an interview with CNBC on Thursday, Bessent said China’s dependence on Middle Eastern oil supplies makes reopening the waterway an urgent priority for Beijing.

“It is overwhelmingly in their interest to reopen the strait,” Bessent told CNBC anchor Joe Kernen. “I believe they will work quietly and as aggressively as possible.”

China remains the world’s largest crude oil importer. According to U.S. energy data, roughly 10% of China’s oil imports come from Iran, while more than half of its total crude imports originated from the Middle East in 2024. Bessent added that nearly all Iranian crude exports are currently directed toward China.

“China has a much greater interest in reopening the strait than the United States does,” the Treasury secretary said.

The comments came as U.S. President Donald Trump held talks with Chinese President Xi Jinping during a two-day summit in Beijing. A White House official said both leaders agreed on the importance of keeping the Strait of Hormuz open to safeguard global energy supplies.

“The two sides agreed that the Strait of Hormuz must remain open to support the free flow of energy,” the official said, adding that President Xi also voiced opposition to the militarization of the strait or any attempts to impose transit fees on shipping traffic.

Iran has enforced a blockade on the strategic maritime corridor since early March following U.S. and Israeli airstrikes that reportedly killed several senior Iranian leaders, including Supreme Leader Ali Khamenei. The closure has severely disrupted Gulf oil exports to global markets, triggering what analysts describe as one of the largest supply shocks in modern energy history.

Before the conflict, nearly 20% of global crude oil shipments passed through the Strait of Hormuz, making it one of the world’s most critical energy chokepoints.

Tehran is now reportedly demanding greater control over the narrow waterway, a key sticking point in stalled peace negotiations with Washington. Iranian authorities have also reportedly explored imposing fees on vessels crossing the strait.

However, Chinese state media stopped short of explicitly confirming that Hormuz was discussed during the Trump-Xi meetings. China’s official Xinhua News Agency said only that the two leaders exchanged views on “major international and regional issues, including the situation in the Middle East.”

Bessent also said China is increasingly interested in securing more American energy supplies in response to instability in the Middle East. He noted that the United States plans to expand oil and liquefied natural gas exports from Alaska, which he described as geographically well-positioned to supply Asian markets.

“We believe not only China, but countries around the world, will seek to diversify energy sources away from the Middle East in search of greater stability,” Bessent said. “And what better supplier than the United States?”