Beijing braces for economic impact as Iran war threatens Chinese oil: "A manmade crisis"

March 4, 2026

TL;DR

China's energy supply is severely disrupted by the U.S. and Israeli war with Iran.
China imports 70% of its oil and gas, with a majority originating from the Persian Gulf.
The conflict could have a significant negative impact on China's economy, as well as the global economy.
Iran has been selling up to 80% of its oil to China since U.S. sanctions were reimposed in 2018.
China's demand for oil continues to rise despite investments in renewable energy.
China has petroleum reserves sufficient for four to five months in case of a prolonged conflict.
Some analysts believe the U.S. actions are intended to contain China by targeting its energy supplies.
The war in Iran adds another layer of tension to the relationship between the U.S. and China.

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