China will use its influence in Iran to help reopen the Strait of Hormuz, U.S. Treasury Secretary Scott Bessent told CNBC in an interview on Thursday.
"It's very much in their interest to get the strait reopened," Bessent told CNBC's Joe Kernen. "I think they will be working behind the scenes to the extent anyone has any say over the Iranian leadership."
China is the largest crude oil importer in the world. About 10% of its imports came from Iran and more than half came from the the Middle East in 2024, according to the U.S. Energy Information Administration. Nearly all of Iran's crude oil exports go to China, the Treasury Secretary said.
"China has a much bigger interest in reopening the strait than the U.S. does," Bessent told CNBC.
President Donald Trump held talks with President Xi Jinping during a two-day summit in Beijing on Thursday. A White House official said the leaders agreed Hormuz needs to reopen.
