China
China is the world’s largest buyer of Iranian oil and receives approximately one-third of its total oil imports via the Strait of Hormuz. During the 2026 crisis, Iran granted Chinese vessels selective passage rights early — China-linked ships were among the first to transit after the closure. China had about 1 billion barrels in strategic oil reserves (a few months of supply). In April 2026, China (with Russia) vetoed Bahrain’s UN Security Council proposal calling on states to ensure safety in the strait, arguing the resolution was biased against Iran. Trump threatened 50% tariffs on any country assisting Iran.
Connections
- Strait of Hormuz — depends on for oil imports
- Toll Booth System — primary beneficiary
- Iran IRGC — diplomatic support implied
- Oil Price Impact — highly exposed as major importer