Scott Bessent urges China and allies to join Hormuz escort operation
Updated
Updated · Bloomberg · May 4
Scott Bessent urges China and allies to join Hormuz escort operation
9 articles · Updated · Bloomberg · May 4
Speaking on Fox News on Monday, the US Treasury secretary said Washington has total control of the Strait of Hormuz and urged Beijing to press Iran to reopen it.
Bessent said China buys 90% of Iran's energy, arguing it therefore has leverage and responsibility to use diplomacy over the vital shipping lane.
The strait is a crucial route for global oil trade, and Bessent linked the appeal to US accusations that Iran is the world's largest state sponsor of terrorism.
With China buying 90% of Iran's oil, can Beijing be a neutral peacekeeper or is it now a party to the conflict?
As the US launches its naval escort, will Iran's threat to attack any foreign military force trigger a much wider war?
Beyond oil prices, how close is the world to a food crisis with global fertilizer shipments now trapped in the Gulf?