The Business Times
business-time-50
THE BOTTOM LINE
·
SUBSCRIBERS

The Hormuz blockade is as much about China as Iran

Washington hopes that Beijing will convince Iran to soften its demands, but the latter may choose to wait and see

Summarise
google-preferred-sourceAdd BT as a preferred source
阅读简体中文版 (beta)
    • Most of the leverage Beijing had over Teheran rested on the money it was paying for oil, which will end if the blockade halts exports.
    • Most of the leverage Beijing had over Teheran rested on the money it was paying for oil, which will end if the blockade halts exports. PHOTO: REUTERS

    Javier Blas

    Published Tue, Apr 14, 2026 · 06:00 PM

    THE black market for Iranian oil would not exist without China. Before the Iran war began, Beijing bought 95 per cent of the crude Teheran shipped via a network of sanctioned tankers, mysterious traders and shadowy financial links.

    Hence, US President Donald Trump is not just targeting Teheran with his blockade of the Strait of Hormuz – he is aiming at Beijing, too.

    On Monday (Apr 13), the US said vessels in Iranian waters would be subject to “interception, diversion and capture”.

    Iran warUnited StatesTrump administrationChinaGeopoliticsgeoeconomicsoil

    TRENDING NOW

    Third-gen owner Edmond Wong is not concerned about “vanity” metrics, and instead aims to “sustain a good business”.

    Profit with purpose: Kim Choo Kueh Chang’s pivot from public listing to protecting heritage

    Singapore Kitchen Equipment was founded by husband-and-wife duo Sally Chua (left) and Alan Lee.

    Singapore Kitchen CEO, senior manager charged with alleged fraud, falsifying accounts; both to stay in jobs for now

    The departure of food manufacturing operations from Singapore may not necessarily be reason for concern.

    Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned

    Be wary of sales pitches that dangle high income but are not explicit on where risks lurk.

    Should you sacrifice some CPF Life income in favour of ILPs? Tread carefully

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More