Chinese President Xi Jinping told U.S. President Donald Trump during their Beijing summit on May 14-15, 2026, that China intends to continue purchasing oil from Iran, framing the trade as essential to Beijing’s energy security. The remark came as the two leaders held high-level talks on trade, Iran, and the Strait of Hormuz.
According to data from analytics firm Kpler, China buys more than 80% of Iran’s shipped oil, with some estimates putting the figure at 80-90%. That flow has made China Tehran’s largest customer and a critical source of revenue for Iran under U.S. sanctions. In 2025, China imported about 1.38 million barrels per day of Iranian crude, roughly 13.4% of its total seaborne imports.
The statement underscores Beijing’s independent foreign policy approach. While Trump’s team said the two sides “agreed that the Strait of Hormuz must remain open to support the free flow of energy”, China’s readout did not mention Iran or its nuclear program. Trump also said Xi “likes the idea” of China buying more U.S. oil to reduce dependence on the strait, but Beijing has not confirmed any shift in its Iranian purchases.
China’s position reflects both economic and strategic calculations. Independent “teapot” refiners in Shandong province rely on discounted Iranian crude to maintain narrow margins. Iran has continued to ship oil to China through ship-to-ship transfers near Malaysia, with over 90% of its exports reportedly heading to China since the conflict began.
U.S. officials have sought to leverage that dependence. Secretary of State Marco Rubio said Washington hopes China will “play a more active role in getting Iran to walk away” from its current course in the Gulf. Trump told reporters he raised the issue directly with Xi and suggested China could cut back on Iranian purchases if the strait reopens.
Beijing has pushed back against U.S. pressure. In April, China’s Ministry of Commerce ordered firms not to comply with U.S. sanctions against five independent refiners, invoking a law allowing retaliation against what it deems unlawful sanctions. Chinese officials maintain that energy trade with Iran is lawful and that Beijing opposes unilateral sanctions….See More
