Overview
- Xi, in a rare call Monday with Saudi Crown Prince Mohammed bin Salman, urged reopening of the Strait of Hormuz and an immediate, comprehensive ceasefire.
- Beijing publicly labeled the U.S. naval blockade of Iranian ports irresponsible and dangerous in its sharpest critique of the operation to date.
- U.S. forces intercepted and seized the Iranian cargo ship Touska on Monday in the Gulf of Oman, underscoring continued maritime interdictions.
- China tightened its energy playbook, as the State Council met to coordinate security and the NDRC chief urged bigger strategic reserves and emergency readiness.
- Pre-war oil stockpiles helped Q1 GDP grow about 5%, yet March exports to the Middle East and North Africa fell 43%, exposing strain on traders and shippers.
- The strait handles a large share of global oil flows, and China relies on imports for roughly 70% of its crude, so a prolonged squeeze could raise fuel costs at home and disrupt factory supply lines.