China pushes back at US demands to stop buying Russian and Iranian oil
US and Chinese officials may be able to settle many of their differences to reach a trade deal and avert punishing tariffs, but they remain far apart on one issue: the US demand that China stop purchasing oil from Iran and Russia.
“China will always ensure its energy supply in ways that serve our national interests,” China’s Foreign Ministry posted on X on Wednesday following two days of trade negotiations in Stockholm, responding to the US threat of a 100 percent tariff.
“Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests,” the ministry said.
The response is notable at a time when both Beijing and Washington are signaling optimism and goodwill about reaching a deal to keep commercial ties between the world’s two largest economies stable — after climbing down from sky-high tariffs and harsh trade restrictions. It underscores China’s confidence in playing hardball when dealing with the Trump administration, especially when trade is linked to its energy and foreign policies.
A 2024 report by the US Energy Information Administration estimates that roughly 80 percent to 90 percent of the oil exported by Iran went to China. The Chinese economy benefits from the more than 1 million barrels of Iranian oil it imports per day.
After the Iranian parliament floated a plan to shut down the Strait of Hormuz in June following US strikes on Iran’s nuclear facilities, China spoke out against closing the critical oil transit route.
China also is an important customer for Russia, but is second to India in buying Russian seaborne crude oil exports. In April, Chinese imports of Russian oil rose 20 percent over the previous month to more than 1.3 million barrels per day, according to the KSE Institute, an analytical center at the Kyiv School of Economics.
Source: Arabnews