U.S. Treasury Pushes China for Hormuz Diplomacy

In a live interview on Monday, U.S. Treasury Secretary Scott Bessent urged China to apply diplomatic pressure on Iran to open the Strait of Hormuz to international shipping. Bessent underscored the importance of China's role, highlighting China's substantial purchase of Iranian energy and its controversial position in international security dynamics.

Bessent criticized China and Russia for blocking initiatives at the United Nations aimed at safeguarding commercial shipping in the strait. He suggested that China's reluctance to comply with U.S. sanctions against certain Chinese refiners heightened geopolitical tensions. This marks the first implementation of a Chinese law allowing retaliation against such sanctions.

Amidst escalating diplomatic challenges, Bessent assured that President Trump and Chinese President Xi would discuss these critical topics during their upcoming summit. Despite ongoing tensions, Bessent expressed confidence in the stability of U.S.-China relations fostered by mutual respect and a trade truce established the previous October.

(With inputs from agencies.)