Iran FM Araghchi meets China FM Wang Yi at Trump‑Xi
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- Araghchi met with Wang Yi in Beijing on May 6, reaffirming a “close friend” partnership as the Gulf crisis deepens.
- Bessent urged China to join an international effort to reopen the Strait of Hormuz ahead of the Trump‑Xi talks on May 14‑15.
- China imported over 80 % of Iran’s shipped oil before the war, per Kpler data for 2025, underscoring its stake in Middle‑Eastern energy flows.
- US and Iran launched new attacks in the Gulf, prompting the US Navy to promise escort for ships through Hormuz, a plan halted after Trump announced “great progress” toward an agreement.
- Trump said on May 5 there had been “great progress” toward a comprehensive deal with Iran, leading the Navy to pause its Hormuz escort operation.
Why it matters: China secures over 80 % of Iran’s shipped oil while Iran gains diplomatic backing; the US faces prolonged Hormuz closures, driving global oil market volatility with price spikes.
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