Kathmandu. Rising tensions in the Middle East have increased pressure on China over oil. China imports most of its oil from Iran and the Strait of Hormuz. This is the same route controlled by Iran, and Iran has now explicitly stated that any oil tanker or ship passing through this route will be attacked.
Saudi refineries have also been shut down as a precautionary measure. This has created a crisis in China’s oil imports. However, China has 6 months of crude oil reserves. Some experts say that the US has used the attack on Iran as a pretext to disrupt China’s oil imports. For this reason, China can also hinder America’s game.
China’s Great Declaration
Meanwhile, China’s official statement indicates that China may soon make a big decision about its energy imports and reserves. China’s foreign ministry has warned that it is reviewing its energy security and will take necessary steps to ensure its energy security. This statement indicates that China may take action against any country or route that obstructs China’s oil imports in the future.
China’s appeal to stop the war
However, China has previously called for an escalation of tensions and wars in the Middle East. “The sea lanes in and around the Strait of Hormuz are important for international trade,” Chinese Foreign Ministry spokesman Mao Ning said. Therefore, we appeal to all sides to immediately stop the war. The escalation of tensions will have a negative impact on the global economy. ’
Solve problem via Talk
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China said in its statement that all parties should make efforts to resolve the problem through dialogue and diplomacy to avoid escalation of tensions. According to some media reports, China has condemned the US-Israeli aggression and called for a cessation of war and peace.
Increase in oil prices
Oil prices have risen sharply since the outbreak of war in the Middle East. Oil prices rose more than 10 percent on Monday but then fell and closed up 7 percent. The price of oil is now up by more than 2.50 percent. It is trading at $80 a barrel.
Meanwhile, the price of European natural gas rose 45% yesterday. – Agency
