Khaberni - According to 3 diplomatic sources, China is negotiating with Iran to allow crude oil and Qatari liquefied natural gas ships to safely pass through the Strait of Hormuz as the US-Israeli war on Tehran escalates.
The war, which entered its sixth day on Thursday, has nearly shut down the vital shipping lane, cutting off a fifth of the world's oil and liquefied natural gas supplies.
The sources said that China, which has friendly relations with Iran and heavily relies on Middle East supplies, is unhappy with Iran's move to disrupt shipping through the strait and is pressuring Tehran to allow ships to pass safely.
About 45% of the oil imported by China passes through the strait.
Ship tracking data showed that a vessel named "Iron Maiden" crossed the strait overnight after changing its signals to "owner-China," but more voyages will be needed to calm global markets.
Crude oil prices have risen more than 15% since the conflict began amid a production stoppage, as Tehran has attacked energy facilities in the Gulf as well as ships crossing the strait.
Its missiles have also reached as far afield as Cyprus, Azerbaijan, and Turkey, disrupting global markets and prompting major economies to warn of inflation risks.
The number of crude oil tankers crossing the strait dropped to 4 ships on the first of March, the day after hostilities broke out, compared to an average of 24 ships per day since January, according to ship tracking data from Vortexa.
Approximately 300 oil tankers are still inside the strait, according to Vortexa and Kepler, a ship tracking company.
Mike McDougal, an expert in the sugar industry, mentioned that officials in the Middle East sugar industry reported that some ships currently crossing the strait are owned by either China or Iran.
Earlier in the week, the Iranian government stated that it would not allow any ships from the United States, Israel, European countries, or their allies to pass through the Strait of Hormuz, but the statement did not mention China.
