Beijing / Middle East – Rising tensions in the Middle East are putting pressure on China’s oil imports, as the country relies heavily on crude shipments passing through Iran and the strategically crucial Strait of Hormuz. Iran has recently warned that any tanker or vessel traversing this route could be targeted, heightening risks to global oil supply.
The situation intensified after an attack on a Saudi Aramco refinery in Dubai yesterday, prompting precautionary shutdowns at other Saudi refineries. This has created a potential crisis for China’s oil imports, though the country reportedly maintains six months of crude reserves. Analysts suggest the U.S. may be using the Iran conflict as a pretext to disrupt China’s oil supply, which could lead China to take countermeasures.
China’s Ministry of Foreign Affairs indicated that the country is reviewing its energy imports and reserves, warning that it may take necessary steps to protect its energy security. The statement suggested that China could respond against any nation or route attempting to obstruct its oil supply in the future.
Earlier, China had called for de-escalation in the Middle East. MFA spokesperson Mao Ning emphasized the strategic importance of the Strait of Hormuz and surrounding maritime routes for international trade and urged all parties to immediately halt hostilities. China also stressed that further escalation could negatively impact the global economy.
The ministry reiterated that dialogue and diplomacy remain the preferred solutions, and media reports indicate that China condemned the U.S.-Israel attacks while urging an end to the conflict and restoration of peace.
The conflict has driven global energy prices higher. Crude oil prices rose over 10% on Monday before stabilizing to a 7% increase, currently exceeding $80 per barrel. European natural gas prices surged 45% yesterday amid the uncertainty.
