US Treasury Official Declares Chinese Ships Barred from Accessing Iranian Oil via Hormuz
US Treasury's Bessent Says Chinese Ships Won't Be Allowed Via Hormuz: 'Not Going To Get Iranian Oil'
News 18
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US Treasury Secretary Scott Bessent announced that Chinese vessels will be prohibited from passing through the Strait of Hormuz to obtain Iranian oil, amid rising tensions affecting global energy markets. Bessent emphasized that while China can source oil elsewhere, it will not access Iranian crude due to US enforcement measures.
- 01US Treasury Secretary Scott Bessent stated that Chinese ships will not be allowed to access Iranian oil through the Strait of Hormuz.
- 02Bessent noted that over 90% of Iranian oil exports are purchased by China, which constitutes about 8% of China's total annual oil imports.
- 03The US is intensifying its pressure related to the ongoing conflict with Iran, impacting global energy supplies.
- 04Bessent also commented positively on the International Monetary Fund and World Bank's recent shifts towards economic priorities.
- 05He criticized previous focuses on climate and social issues, advocating for a return to growth-oriented policies.
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US Treasury Secretary Scott Bessent declared that Chinese vessels will be barred from passing through the Strait of Hormuz to access Iranian oil, a move aimed at disrupting China's procurement of crude amid escalating tensions linked to the ongoing conflict with Iran. Bessent highlighted that China has been importing over 90% of Iranian oil exports, which represents approximately 8% of its total annual oil imports. He asserted that while China can obtain oil from other sources, it will not be able to access Iranian oil due to US enforcement measures in the strategic waterway. Furthermore, Bessent commented on the International Monetary Fund (IMF) and World Bank's evolving focus, stating they are now progressing in a more constructive manner. He emphasized the need for these institutions to prioritize economic growth and stability, moving away from previous criticisms of their focus on climate and social issues. Bessent's remarks reflect a significant shift in the US's approach to both energy security and global economic policies.
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This decision could lead to increased oil prices globally, affecting consumers and industries reliant on oil imports.
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