Chinese Foreign Ministry spokeswoman Mao Ning said at Tuesday’s regular press briefing in Beijing that all parties in the Iran conflict must ensure the safe transit of commercial shipping through the critical maritime energy chokepoint of the Strait of Hormuz.”China urges all parties to immediately cease military operations, avoid escalating tensions, and safeguard the safety of navigation in the Strait of Hormuz,” spokeswoman Ning said.We’ve briefed readers that China is heavily exposed to cheap Iranian crude exports. About 80% of Iran’s oil exports – about 1.6 million barrels per day – go to China.While prices are fungible, the biggest loser from a Hormuz closure in terms of actual physical oil is China which is the main destination of the 13.1mm barrels of oil that passes through the Strait every day https://t.co/FwWVsHiwpZ pic.twitter.com/ozXwXpo2El
— zerohedge (@zerohedge) March 1, 2026This means Beijing will do everything in its power to preserve this lifeline and remove any blockage in Hormuz.And this. Chinese officials have reportedly been pressing Iran not to disrupt tanker traffic, damage Qatari gas exports, or hit major export hubs, according to Bloomberg.The latest AIS shipping tracking data via Bloomberg shows the Strait of Hormuz remains paralyzed, with Iran’s Revolutionary Guards commander threatening fire and destruction to any ship that transits the narrow waterway.Our latest reporting shows that a day after a reported Iranian drone strike forced Saudi Arabia’s largest oil refinery offline, there are numerous reports of drone strikes on critical Gulf energy infrastructure on Tuesday morning (read report).We highly recommend that readers review a report titled “The Iran Question Is All About China” to better understand that this conflict extends well beyond Iran.Looking ahead, top U.S. and Chinese trade negotiators are expected to meet in mid-March, according to Bloomberg, ahead of a planned Trump-Xi summit later this month. Trump’s moves against Venezuela and now Iran can be viewed as an effort to tighten pressure on two of Beijing’s cheap crude supplies before those talks (that’s if those talks don’t get canceled).Loading recommendations…
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