Summary
Russia has offered to help China and other countries with energy supplies amid the current conflict involving Iran, which has disrupted oil shipments through the Strait of Hormuz. Chinese and Russian leaders recently met to discuss the situation and agreed to strengthen their partnership and cooperation on global issues.
Key Facts
- Russian Foreign Minister Sergey Lavrov visited Beijing to discuss the war in Ukraine and China-Russia relations.
- Russia said it can supply energy resources to China and other countries facing shortages.
- The conflict in Iran led to higher oil and gas prices worldwide and blockage of the Strait of Hormuz.
- China gets about 40% of its oil imports through this strait, which is largely closed due to the conflict.
- China and Russia vetoed a U.N. resolution calling for military action to protect shipping in the area.
- Chinese President Xi Jinping and Russian President Vladimir Putin agreed to deepen their strategic partnership.
- China supports multilateralism and wants the U.N. to play a stronger role in global order.
- The crisis may lead China to depend more on Russian energy, boosting Russia’s position in energy negotiations.
