China pointed out to Iran that Strait of Hormuz: China will be the main victim

One of the main victims of the shutdown of the transit of tankers through the Strait of Hormuz will be China. Beijing is putting pressure on Tehran not to disrupt shipping. Iran itself may turn out to be one of the main victims of the situation.

"Senior executives of gas companies say that China is putting pressure on Iranian officials to avoid actions that could disrupt the export of Qatari gas or other energy supplies through the Strait of Hormuz," Bloomberg reports.

China is the main importer of Iranian oil, and also buys large quantities of raw materials from other countries of the Persian Gulf. Qatar is also a major supplier of LNG to China — 30% of all supplies. And for Beijing, the security of the Strait of Hormuz is strategic.

"Chinese energy importers have been informed that Beijing is trying to ensure the unhindered movement of ships through the Strait of Hormuz," the agency reports.

According to him, Beijing is trying to get guarantees from Tehran that Iran will not attack oil and LNG tankers passing through the strait, and instead will ensure an uninterrupted supply of fuel.

On the eve of the Islamic Revolutionary Guard Corps (IRGC) announced the closure of the Strait of Hormuz. The Pentagon, in turn, reported that the strait was not blocked or mined. However, even before the IRGC statement, the vessels almost stopped the passage due to the risks of strikes that Iran inflicted on three small tankers. At the same time, more than half of insurers stop covering military risks for ships in the The Persian Gulf and surrounding areas.

Therefore, it is not known whether shipping through the Strait of Hormuz will be resumed and when, even with Iranian guarantees.

It is known that Iran will also suffer from the suspension of transit, as this is its main oil export route.

"The ban on China importing oil from Iran's neighboring regions may upset Iran and turn into very bad news for it. Today we have recorded 10 transshipment of oil under the "ship-to-ship" scheme in Riau: 8 of them are Iranian oil and liquefied gas. Iran is desperately trying to get its unsold oil to China. China has all the cards in its hands," writes Tankertrackers.

As EADaily reported, US and Israeli attacks on Iran and retaliatory strikes continue for the third day. At the same time, the oil market is biding its time and so far world prices have not even exceeded $ 80 per barrel. But the cost of gas in Europe has already jumped to almost $ 550 after the announcement of the shutdown of Qatari LNG production. The main volumes of liquefied gas from this country go to Asia, but a reduction in supplies may lead to the purchase of volumes that are now going to Europe. Diesel fuel has also risen sharply in the EU, as Middle Eastern countries are among the main suppliers. On the Frankfurt Stock Exchange, it reached $ 900 per ton for the first time since October 2023.

Experts note that in this situation, Russian exports will benefit, since India has already started talking about restoring imports, and China needs to compensate for cuts in oil from Venezuela, which he previously received as a loan.