US: China Considers Increasing US Oil Imports to Reduce Dependence on Hormuz
A White House official said Chinese President Xi Jinping rejected efforts to impose a “toll” on shipping in the Strait of Hormuz and expressed interest in purchasing more US oil to reduce China’s dependence on the waterway going forward. The remarks reportedly came during Xi’s meeting with US President Donald Trump in Beijing on Thursday.
According to the official, Xi and Trump also agreed that the Strait of Hormuz should remain open to support the smooth flow of energy. However, the official summary from the Chinese side did not list energy as a topic of discussion, although it did mention that the two leaders discussed the Middle East.
China is the world’s largest importer of crude oil and natural gas, while the US is the second-largest producer. However, shipments of energy commodities between the two countries reportedly halted last year after China imposed levies in retaliation for Trump’s broad tariffs on Chinese goods.
Pressure on global energy supplies increased this year after Iran “effectively” closed the Strait of Hormuz in response to US and Israeli airstrikes and threatened to impose a toll on passage. The closure disrupted about a fifth of global oil and LNG exports and pushed prices higher, while the US subsequently initiated a blockade to prevent ships from leaving the Persian Gulf; White House officials said the Chinese oil supertanker Yuan Hua Hu appeared to pass through the blockade safely on Thursday.
Source: newsmaker.id
