This move by Beijing is a response to supply issues of raw materials from Middle Eastern countries caused by the conflict in Iran. It is expected that the temporary suspension of exports will help improve the state of the domestic energy market in China.
Additionally, well-known oil companies in the country must temporarily refrain from new contracts and cancel previously agreed fuel shipments abroad. Exceptions are made for aviation and bunker fuel that is in customs warehouses. Shipments to Hong Kong and Macau are also permitted, as reported by official sources.
Archive photo. The closure of the Hormuz Strait by Tehran led to the accumulation of dozens of tankers on both sides
Experts emphasize that China, along with other countries in the Asia-Pacific region, may find itself among the main victims of the blockade of the Hormuz Strait initiated by Tehran. This key maritime artery has recently accounted for one-third of global raw material trade, and China heavily relies on oil imports from Iran.
As of 2024, Iran constituted about 14% of China's total oil imports. Specialists note that the reserves formed by the beginning of spring 2026 should cover the country's needs for more than 130 days. However, in the event of a prolonged conflict between Iran and the U.S. and Israel, which could escalate into a full-scale war, the situation in the Chinese fuel market could seriously deteriorate.
Earlier, the Islamic Revolutionary Guard Corps announced the defeat of 10 tankers and complete control over the Hormuz Strait.
Currently, dozens of tankers have accumulated on both sides of the strait following its closure by Tehran.
It is worth noting that about 20% of the world's oil and up to 30% of liquefied natural gas from Persian Gulf countries, such as Iraq, Saudi Arabia, Kuwait, Bahrain, Qatar, and the UAE, which is supplied to Asian markets, passes through the Hormuz Strait.
The blockade of this maritime corridor could lead to a sharp rise in energy resource prices. Experts predict that the price of oil could reach $100 per barrel.
