POLITICS

Bessent Urges China To Press Iran On Hormuz Reopening

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Washington — U.S. Treasury Secretary Scott Bessent on May 4 urged China to increase diplomatic pressure on Iran to reopen the Strait of Hormuz to international shipping, saying Beijing’s energy purchases sustain Tehran and that the issue will be discussed when President Trump meets President Xi Jinping on May 14–15 in Beijing. This week Bessent called on China and Russia to stop blocking U.N. measures and asked Beijing to 'join' U.S. efforts to reopen the strait; U.S. officials say operations are under way to restore maritime traffic, oil prices and U.S. gasoline costs rose, and the matter is expected to feature on the May summit agenda.

Prepared by Lauren Mitchell and reviewed by editorial team.

Timeline of Events

Feb 26: U.S. average gasoline price cited at $2.98 (pre-war reference).
Early May: Maritime disruption and attacks reported affecting the Strait of Hormuz.
May 4: Treasury Secretary Scott Bessent urged China to press Iran to reopen the strait during a Fox News interview.
May 4–5: Multiple outlets reported Bessent’s comments and the claim China buys 90% of Iran’s energy.
May 14–15: Scheduled Trump‑Xi summit in Beijing where the issue is set to be discussed.

Why This Matters to You

The Strait of Hormuz situation impacts your wallet. If it stays closed, oil prices could keep rising. That means higher gas prices for you. Keep an eye on the pump and your budget.

The Bottom Line

The U.S. is working to reopen the Strait. China's role is key because they buy a lot of Iran's energy. The issue will be discussed at the Trump-Xi summit on May 14-15. Worth forwarding if you know someone who's worried about gas prices.