Foreign Media: U.S. Treasury Secretary Scott Bessent accused China of stockpiling oil during the Middle East war and restricting exports of certain goods.
Bessent stated that China's strategic petroleum reserve size is roughly equivalent to the combined reserves of the 32 member countries of the International Energy Agency, yet China continues purchasing oil from Iran—China has bought over 90% of Iran's oil exports, accounting for about 8% of China's annual oil procurement.
The Strait of Hormuz carries 20% of global oil shipments; its blockade caused oil prices to surge by 50% and triggered supply chain disruptions.
Original Source: toutiao.com/article/1862467004660808/
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