The New York Times reported that Treasury Secretary Scott Bessent said in a Fox News interview on Sunday that he was urging China to join what he called an international effort and to use diplomacy to persuade Iran to reopen the strait.
“Iran is the largest state sponsor of terror, and China has been buying 90% of Iran’s energy, so it is effectively funding the largest state sponsor of terror,” Bessent said.
Bessent also highlighted the U.S.-led maritime operation, saying, “We have full control of the strait.” He said the United States is demanding that Iran release the ships “for the benefit of the international community,” and he added that Washington expects international partners to engage similarly and that it is “the right time” for them to pressure Iran.
He said the United States is returning fire only if attacked and “is not the side provoking,” but added that if Iran seeks to escalate, the United States is prepared to respond.
The remarks came about a week before a summit between President Donald Trump and Chinese President Xi Jinping, and were widely seen as a pointed public message to Beijing.
The United States has recently tightened sanctions targeting China. The State Department and Treasury Department last month sanctioned the Chinese refining company Hengli Group over imports of Iranian crude. On May 1, the United States added sanctions on operators tied to a “shadow fleet” linked to Iran’s petroleum product exports.
Treasury also sanctioned three Iranian exchange houses and related front companies accused of brokering foreign-exchange transactions worth billions of dollars a year, cutting off financial dealings. The groups are suspected of converting yuan flowing in from China into other currencies that could be repurposed for military funding.
China has pushed back against U.S. sanctions on its companies, signaling it opposes compliance.
The U.S. pressure campaign over Iran has also raised concerns it could reignite tensions between Washington and Beijing. Strategic competition has continued, including China’s decision last month to bar investment in Meta’s AI company Manus and to demand the acquisition be withdrawn.
On oil prices, Bessent said he understands that a short-term spike is affecting Americans, but predicted prices would fall “very quickly” once the situation passes.
He estimated the Iran war has reduced oil supply by about 8 million to 10 million barrels a day. He said a tanker passing through the Strait of Hormuz can carry about 2 million barrels, and that normal passage of just four to five ships a day could ease the disruption.
Given current conditions, he said “150 to 200” ships that had been stuck could get out, adding that the market would see supply flow much more smoothly.
He also said the United Arab Emirates, which has left the Organization of the Petroleum Exporting Countries, is expected to increase oil production, which he said would further support supply.
* This article has been translated by AI.
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