China is feeling the effects of the war in Iran. Talks between Beijing and Tehran are ongoing
China maintains friendly relations with Iran and is largely dependent on supplies from the Middle East, so it is pressuring Tehran to allow ships to pass safely, Reuters noted. The agency reminded that approximately 45 percent China's oil imports flow through the Strait of Hormuz.
What talks is China having with Iran?
How much percent of China's oil imports flows through the Strait of Hormuz?
What caused the increase in oil prices?
How many tankers passed through the Strait of Hormuz after the outbreak of hostilities?
Oil prices increased by over 15%. since the beginning of the conflict due to production disruptions caused by Iranian attacks on energy facilities in the Persian Gulf and ships passing through the strait.
Conflict in the Middle East. Strait of Hormuz closed
The number of tankers passing through Hormuz fell to four on Sunday, a day after hostilities broke out, compared with an average of 24 a day since January, according to data from maritime traffic monitoring company Vortexa.
Iran's government said earlier this week that no ships belonging to the United States, Israel, European countries or their allies would be allowed to pass through the Strait of Hormuz. The statement did not mention China, Reuters wrote.
On Wednesday, US Energy Secretary Chris Wright announced that the US Navy would escort tankers passing through the Strait of Hormuz “as soon as possible.”
