Why China could emerge as the quiet winner of Iran conflict?

Beijing is seeking to strengthen its diplomatic influence by mediating regional talks and controlling rare earth exports that are crucial for military technology.

Amid the ongoing conflict between the United States, Israel, and Iran, China has neither intervened nor fired a shot, choosing instead to condemn the attacks and safely evacuate its citizens. China’s foreign minister has made diplomatic calls to both sides. Since the US-Israel operation against Iran began, Beijing has quietly positioned itself for gains on two fronts – economic and geopolitical. This approach is evident both in the data and in the diplomatic record.

World’s Largest Oil Importer

We all know that China is the world’s largest oil importer and it needs constant supply of fuel to support its growing economy and to fulfil the power need of its countrymen.

If we talk about last year, China imported 17 percent oil from Iran and Venezuela combined, as per a research paper in the American Action Forum.

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With Israel-US joint attacks on Iran and Washington’s recent military operation in Venezuela, both oil sources of Beijing have now been disrupted.

It seems like China is in major trouble but it is not, even a complete halt from both the sources will not lead to an immediate crisis the neighboring country. According to a repot by Carnegie Politika, the situation may lead to pricing model on which the all segments of its economy are built.

Bloomberg reported that a stock of Iranian oil at sea and onshore inventories will provide China the needed cushion. Another report from OilPrice.com, the neighbouring country has been sending around 1 million barrels of oil to storage every day. and this practice is continued for the past year.

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