MH.Yang
Trusted Member
Energy prices still rise just as the did in the US. I am paying over $1 more than I did before this war started despite the US being a major oil producer.
It is Iranian officials saying it not Trump.
If I am wrong then I will admit it, we will see during negotiations. If I end up being wrong then I am grateful for Pakistan's and China's efforts.
The impact of Iran's blockade of the strait on China is very small.
Firstly, Iran did not intercept Chinese ships, and Chinese ships were able to operate normally.
Secondly, China and Russia have very well-developed oil pipelines. The transportation volume of pipelines between the two countries is limited by the policy of the National Development and Reform Commission of China (which prohibits the import of oil from a single country exceeding 20% of the total oil imports) and does not operate at high speed. If the National Development and Reform Commission lifts policy restrictions, the China Russia oil pipeline alone can meet all of China's oil demand.
Thirdly, China itself is one of the top ten oil producing countries in terms of proven oil reserves. In the 1990s, China was the largest oil exporting country in Asia. China is now reducing oil extraction and importing a large amount of oil to balance its huge trade surplus, not because China has no oil.
Fourthly, China has the world's largest proven coal reserves and mature coal refining technology. If the oil price exceeds $100, capital will quickly enter the coal refining market.
Fifth, now the Chinese government has banned oil exports, and international oil prices will not affect domestic prices in China.
The reason why you think China is pressuring Iran over oil prices is illogical. In fact, this war is very beneficial for China. If China really intervened and mediated this war, then it must have been for Iran's interests.
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