WASHINGTON – Treasury Secretary Scott Bessent called on China on May 4 to leverage its influence over Iran and push for reopening the Strait of Hormuz to global shipping, ahead of President Donald Trump’s May 14-15 summit with Xi Jinping in Beijing.
In a Fox News interview, Bessent highlighted China’s purchase of 90% of Iran’s energy exports, accusing it of bankrolling the “largest state sponsor of terrorism,” and pressed Beijing to join a US-led naval operation securing the vital waterway.[1][3] He criticized China and Russia for blocking UN resolutions on shipping protection, urging diplomatic action to ease disruptions.
Bessent affirmed US dominance via its Iranian shipping blockade and new Navy escorts dubbed “Project Freedom,” predicting a swift drop in oil prices from current highs labeled a “temporary aberration.” The leaders’ talks will address Iran while sustaining US-China stability from their October 2025 Busan trade truce, built on “great respect” between Trump and Xi.