China quietly pressures Iran over Hormuz Strait amid energy fears, Bloomberg reports
China secretly pressures Iran not to block Hormuz Strait (photo: Getty Images)
China is pressuring Iranian officials, urging them to refrain from actions that could disrupt exports of Qatari gas or other energy supplies through the Hormuz Strait, Bloomberg reports.
As the publication writes, senior gas industry executives said Beijing is behind the scenes urging Tehran not to take actions that could destabilize energy shipments in the region.
At least four commercial vessels are currently reported damaged.
Bloomberg notes that China, as the world's largest importer of oil and gas, remains one of the most vulnerable countries in the case of escalation in the Persian Gulf.
Despite significant reserves, nearly half of crude oil imports to China in December transited through the Hormuz Strait.
"China urges all parties to immediately cease military operations, avoid escalating tensions, and safeguard the safety of navigation in the Strait of Hormuz," Chinese Foreign Ministry spokesperson Mao Ning said.
According to the publication's sources in the energy sector, who spoke on condition of anonymity, Tehran is also being asked not to attack Qatar gas facilities.
That country provides about 30% of China's liquefied natural gas needs, making supply stability critically important for the world's second-largest economy.
Why China fears blockade of Hormuz Strait
China remains a key buyer of Iranian oil and an effective economic lifeline for Iran.
At the same time, Beijing depends on the stability of the entire Persian Gulf region, since both oil and gas supplies pass through a narrow maritime corridor.
Conflict in the Middle East
On February 28, Israel, together with the United States, carried out a series of strikes on Iran, as well as on facilities of the terrorist group Hezbollah in Lebanon.
In response, Iran attacked Bahrain and the United Arab Emirates.
In addition, Tehran announced the closure of the Hormuz Strait and threatened to destroy vessels attempting to pass through this strategic route connecting the Persian Gulf and the Gulf of Oman and providing about one-fifth of global oil exports.
At the same time, United States Central Command reported that strait is currently not blocked and there are "no signs yet of it mining."
Also, earlier Iran attacked with drones the industrial parks Ras Laffan and Umm Said in Qatar — facilities of QatarEnergy, one of the largest producers of liquefied natural gas in the world.
After that, the Qatari company announced the suspension of LNG production, which significantly affected the European market: gas prices rose by 54%.
