Bessent Urges China to Pressure Iran on Hormuz

U.S. Treasury Secretary Scott Bessent urged China to increase diplomatic efforts to persuade Iran to reopen the Strait of Hormuz, according to multiple reports. The request comes ahead of President Donald Trump's scheduled summit with Chinese President Xi Jinping in Beijing next week.

The U.S. is currently blockading Iranian shipping through a naval operation aimed at reopening the strategic waterway and lowering oil prices. According to Bessent, China purchases around 90 percent of Iran’s energy exports, effectively funding what he described as 'the largest state sponsor of terrorism.' The Treasury Secretary called on China to join international efforts to open the Strait during an interview with Fox News, per multiple outlets.

The summit in Beijing will include bilateral discussions between Trump and Xi Jinping. The two leaders are expected to discuss technology, tariffs, trade, and the ongoing conflict in Iran. According to Reuters, Bessent emphasized that both leaders strive to maintain stability in the U.S.-China relationship established with their trade truce reached last October.

Bessent also predicted that oil prices would fall as more non-Iranian supply reaches the market. He stated that there are 'hundreds of oil tankers waiting in the Gulf to come out,' and pointed to the futures market, which shows that oil prices are already lower three months, six months, nine months out.

Bessent's remarks came as he accused China of funding terrorism by purchasing most of Iran’s energy exports. He urged Beijing to join Washington in its campaign to reopen the Strait of Hormuz, which has been blocked by Iran. 'The attacks from Iran have closed the strait. We are reopening it. So I would urge the Chinese to join us in supporting this international operation,' Bessent said.

Trump had announced that the U.S. would guide ships stranded in Hormuz out of the strait, warning Iran against interfering with the operation dubbed 'Project Freedom.' Bessent asserted that the U.S. has 'absolute control' of the strait and called on China to use its leverage over Iran to help resolve the crisis.

Bessent noted that China and Russia have vetoed efforts to condemn the Iranian blockade of Hormuz at the United Nations Security Council. Beijing and Moscow had blocked a UN draft resolution earlier this month, stating it was one-sided and only denounced Tehran without addressing U.S. and Israeli attacks on Iran.

Despite tensions over Iran, Bessent highlighted that the summit next week will allow Trump and Xi to exchange views in person. 'We’ve had great stability in the relationship, and again, that comes from the two leaders having great respect for each other,' he said.