China Blames US-Israel for Hormuz Blockade, Urges De-escalation
Key Takeaways
- China blames the U.S. and Israel for the Strait of Hormuz closure.
- Root cause cited as illegal military activities by the U.S. and Israel against Iran.
- Beijing urges de-escalation and reopening of the Strait of Hormuz.
China Blames US-Israel
China has sharply criticized the US and Israel, calling their military strikes on Iran the root cause of the Hormuz blockade.
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Foreign Ministry spokeswoman Mao Ning said the disruption is due to illegal military actions waged by the US and Israel against Iran.
China is the largest buyer of Iranian crude oil, exposing it to acute economic risk.
China's state-run media reported on rising fuel prices, a sign of the blockade's immediate impact at home.
Strait Closure Triggers Global Shock
The closure of the Strait of Hormuz has disrupted global oil markets and supply chains.
Al Jazeera noted about a fifth of global oil production passes through the strait.
36 countries are meeting to press diplomatically to reopen the strait.
The blockade compounds economic damage inflicted by US-Israeli strikes that killed more than 200 Iranians including 153 children.
China's Three-Stage Energy Mechanism
China manages energy crises through a three-stage mechanism.
The first stage aligns retail prices with global ones.
The second stage halts exports and compensates refiners if prices rise above $130 per barrel.
The third stage involves drawing from strategic reserves if tensions persist beyond two months.
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