China May Benefit From the US War With Iran — The National
In New York, United States, Iranian President Masoud Pezeshkian arrived for the UN General Assembly, while Chinese leader Xi Jinping visited US President Donald Trump. Against the backdrop of the war between the United States and Iran, China benefits from Washington concentrating significant military resources on the conflict, The National believes.
According to the author’s assessment, approximately one-third of the US Navy is involved in the war without a clearly defined end goal. At the same time, supplies of oil and other goods from the Persian Gulf are increasing, although they have not returned to pre-war levels. This sustains domestic political pressure on the White House and makes it more difficult for the United States to exit the conflict, the publication notes.
China’s interests in the region
The publication reports that China allegedly provided Iran with satellite imagery to guide strikes against US bases, as well as dual-use components that can be used to produce missiles and drones. At the same time, Beijing is not interested in an almost complete halt to energy flows from the Persian Gulf or in new large-scale attacks on regional infrastructure.
China has significant investments and assets in the UAE, Saudi Arabia, Qatar, Oman, and Iraq. The Gulf Cooperation Council countries and Iraq are collectively more important to China as energy suppliers, sales markets, and economic partners than Iran. In 2023, Beijing helped restore diplomatic relations between Riyadh and Tehran.
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Energy and sanctions
China is the world’s largest importer of oil and gas, but its electricity system is partly shielded from gas shocks thanks to coal, the development of renewable energy, and nuclear power. China also has gas pipelines from Russia and Central Asia, which, according to the author’s assessment, gives it greater flexibility amid significant disruptions to Qatari liquefied natural gas supplies.
Last year, China accumulated large strategic oil reserves, which it has been gradually using since the start of the war. Chinese independent oil refineries also benefited from purchases of cheaper Iranian oil. At the same time, as the publication writes, only negligible remnants of such supplies are reaching China because of the de facto American naval blockade.
On August 24, US Treasury Secretary Scott Bessent announced an “economic D-Day” against Iran. According to The National, the tougher sanctions were not directly aimed at China, which remains Tehran’s key trading partner and virtually the only buyer of its oil. China imposed counter-sanctions targeting companies that comply with US restrictions, the publication notes.
