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China has oil options if the US gets squeezed
Beijing isn’t sending jets or missiles into the Middle East right now, but it’s watching very closely. As the US bombed Iranian nuclear facilities on Saturday, joining the fight between Israel and Iran, China kept a low profile.
According to CNBC, it hasn’t condemned the strikes outright, but it has publicly backed Tehran, its long-time partner. And while it’s talking about peace, Beijing could quietly stand to gain if oil flows through the Strait of Hormuz are cut.
China and Iran signed a 25-year partnership deal in 2021. That agreement covers everything: economics, military cooperation, and security. Since then, the two countries have regularly carried out joint military drills.
Iran’s population, around 91 million, gives it more manpower and internal market size than Israel, which has fewer than 10 million people. It also controls huge oil reserves. That made Iran a key part of China’s Belt and Road initiative, which state media like Global Times said was designed to challenge US global dominance.
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