China just pulled one of the quieter but more consequential levers in the resource war. On July 10, Beijing enacted an immediate temporary ban on helium exports, citing urgent domestic needs under its Foreign Trade Law. No exemptions, no phase-in period, no grace window for existing contracts.
A perfect storm of helium restrictions
Russia implemented its own parallel restrictions on helium exports back in April 2026, with controls set to last through the end of 2027. Before that, EU sanctions had already blocked Russian helium imports since 2024.
China produces only about 1.6% of the world’s helium. But escalating tensions between the US and Iran have severely disrupted helium supplies from Qatar, which happens to be a key global exporter and China’s primary source. China imports somewhere between 85% and 95% of its total helium consumption, with Qatar supplying the vast majority. When your main supplier gets caught in a geopolitical crossfire, you hoard what you have.
Why helium matters more than you think
