Marco Rubio has called on China to prevent Iran from closing the Strait of Hormuz, one of the world’s most important shipping routes.
His comments came after Iran’s state-run Press TV reported that parliament had approved a plan to close the Strait but added that the final decision lies with the Supreme National Security Council.
Any disruption to the supply of oil would have profound consequences for the economy. China in particular is the world’s largest buyer of Iranian oil and has a close relationship with Tehran.
In the meantime, China is going all in on EVs thus reducing their dependence on oil…. Gee, wonder what leverage that gives them.
China imports 1.3 to 1.8 million barrels of oil per day from Iran, roughly 16% of its total. It’s not just oil either, China is a heavy importer of other Iranian petrochemicals.
China’s EVs give them very little leverage at this point.
Remind me in 5 years