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

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    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”.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Iran warUnited StatesTrump administrationChinaGeopoliticsgeoeconomicsoil

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    Those aged below 30 account for the largest share of overqualification.

    More workers in Singapore opt for jobs for which they are overqualified: MOM, NTUC studies

    While residential property has delivered solid gains, observers say other assets such as equities often outpace it over the longer term.

    Higher costs, lower returns: Why are Singaporeans still betting on real estate?

    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