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03-02-2026, 08:51 PM
Beijing on Monday reiterated its call for the U.S. and Israel to immediately cease military operations against Iran, warning the global economy could be imperiled as the war expanded to multiple Middle Eastern countries and threatened shipping through the Strait of Hormuz.
Around 20 per cent of the world’s oil and gas supply passes through the Persian Gulf into the Arabian Sea before it’s transported to destinations around the world, making the Strait and its adjacent waters “vital international routes for cargo and the energy trade,” Chinese Foreign Ministry spokeswoman Mao Ning told reporters on Monday.
“Safeguarding security and stability in this region serves the common interests of the international community,” she added. “China urges all parties to immediately cease military actions, prevent further escalation of tensions, and avoid regional turbulence inflicting greater damage on global economic development.”
A long-standing ally of Iran, Beijing appeared to have been caught off guard by this weekend’s attacks on Tehran, describing the killing of Iranian Supreme Leader Ayatollah Ali Khamenei as “trampling on the purposes and principles of the UN Charter and basic norms in international relations.”
Ms. Mao said China had not been notified in advance of the military operation and was watching the developments with concern. Some 3,000 Chinese nationals have been evacuated from Iran, she added, while at least one Chinese citizen was killed in the bombing of the Iranian capital.
As with heavily sanctioned Venezuelan oil, China was a major buyer of Iranian crude. Disruptions to this supply could hurt small-scale Chinese refiners that specialize in oil that cannot go to market in much of the world. But the broader Chinese economy should be resilient to any immediate shocks from the war in Iran, said Wang Yiwei, a professor of international affairs at Renmin University in Beijing.
“China already has massive petroleum reserves, plus new energy sources now account for about one-third of our structure,” he said. “On land, Russia is stable, and combined with our large petroleum reserves and new energy, I feel we’ve already made preparations for the worst-case scenarios.”
Oil prices surged Monday as traders priced in major disruptions to the Iranian supply, at least in the short term, which could have a knock-on effect on demand for crude from other countries. This could be exacerbated if Iran’s retaliatory attacks and closing of the Strait of Hormuz also slows shipments of oil from Saudi Arabia – by far the largest non-sanctioned international supplier.
Around 20 per cent of the world’s oil and gas supply passes through the Persian Gulf into the Arabian Sea before it’s transported to destinations around the world, making the Strait and its adjacent waters “vital international routes for cargo and the energy trade,” Chinese Foreign Ministry spokeswoman Mao Ning told reporters on Monday.
“Safeguarding security and stability in this region serves the common interests of the international community,” she added. “China urges all parties to immediately cease military actions, prevent further escalation of tensions, and avoid regional turbulence inflicting greater damage on global economic development.”
A long-standing ally of Iran, Beijing appeared to have been caught off guard by this weekend’s attacks on Tehran, describing the killing of Iranian Supreme Leader Ayatollah Ali Khamenei as “trampling on the purposes and principles of the UN Charter and basic norms in international relations.”
Ms. Mao said China had not been notified in advance of the military operation and was watching the developments with concern. Some 3,000 Chinese nationals have been evacuated from Iran, she added, while at least one Chinese citizen was killed in the bombing of the Iranian capital.
As with heavily sanctioned Venezuelan oil, China was a major buyer of Iranian crude. Disruptions to this supply could hurt small-scale Chinese refiners that specialize in oil that cannot go to market in much of the world. But the broader Chinese economy should be resilient to any immediate shocks from the war in Iran, said Wang Yiwei, a professor of international affairs at Renmin University in Beijing.
“China already has massive petroleum reserves, plus new energy sources now account for about one-third of our structure,” he said. “On land, Russia is stable, and combined with our large petroleum reserves and new energy, I feel we’ve already made preparations for the worst-case scenarios.”
Oil prices surged Monday as traders priced in major disruptions to the Iranian supply, at least in the short term, which could have a knock-on effect on demand for crude from other countries. This could be exacerbated if Iran’s retaliatory attacks and closing of the Strait of Hormuz also slows shipments of oil from Saudi Arabia – by far the largest non-sanctioned international supplier.
