BR100 Decreased By (-0.26%)
BR30 Decreased By (-0.53%)
KSE100 Decreased By (-0.29%)
KSE30 Decreased By (-0.22%)
AGHA 6.56 Decreased By ▼ -0.11 (-1.65%)
BECO 4.40 Increased By ▲ 0.05 (1.15%)
BML 55.89 Decreased By ▼ -0.28 (-0.5%)
BOP 30.05 Decreased By ▼ -0.07 (-0.23%)
CNERGY 12.75 Decreased By ▼ -0.23 (-1.77%)
CSIL 5.21 Decreased By ▼ -0.10 (-1.88%)
FCCL 51.00 Decreased By ▼ -0.65 (-1.26%)
FFL 14.43 Decreased By ▼ -0.06 (-0.41%)
FNEL 1.22 Increased By ▲ 0.01 (0.83%)
KEL 5.97 Decreased By ▼ -0.09 (-1.49%)
KOSM 5.58 Decreased By ▼ -0.26 (-4.45%)
LOTCHEM 26.15 Decreased By ▼ -0.02 (-0.08%)
MLCF 90.33 Decreased By ▼ -0.90 (-0.99%)
NBP 161.45 Decreased By ▼ -2.74 (-1.67%)
NCPL 52.55 Decreased By ▼ -0.63 (-1.18%)
NPL 57.98 Decreased By ▼ -1.14 (-1.93%)
OGDC 315.40 Increased By ▲ 2.01 (0.64%)
PACE 9.70 Decreased By ▼ -0.07 (-0.72%)
PAEL 34.73 Decreased By ▼ -0.51 (-1.45%)
PIBTL 14.23 Decreased By ▼ -0.48 (-3.26%)
PPL 221.00 Decreased By ▼ -0.36 (-0.16%)
PRL 90.89 Decreased By ▼ -0.33 (-0.36%)
PTC 59.25 Increased By ▲ 0.06 (0.1%)
SSGC 23.39 Increased By ▲ 0.09 (0.39%)
TBL 8.65 Decreased By ▼ -0.10 (-1.14%)
TELE 7.40 Decreased By ▼ -0.21 (-2.76%)
TPL 21.00 Decreased By ▼ -1.03 (-4.68%)
TPLP 12.02 Decreased By ▼ -0.54 (-4.3%)
TREET 21.33 Decreased By ▼ -0.40 (-1.84%)
TRG 54.35 Decreased By ▼ -1.44 (-2.58%)
By

BEIJING: China said on Thursday that US and Israeli strikes on Iran were the “root cause” of the Strait of Hormuz blockage, after US President Donald Trump called on affected countries to seize the key waterway.

Trump said countries that receive oil through the Hormuz strait should “take care of that passage”, which has been effectively closed by Tehran in retaliation for the US-Israeli strikes on Iran.

He urged such countries to “just take it, protect it, use it for yourselves”.

China is a major importer of oil through the vital waterway and the foreign ministry in Beijing blamed the United States and Israel on Thursday.

“The root cause of interruptions to navigation through the Strait of Hormuz is the United States and Israel’s illegal military operations against Iran,” ministry spokeswoman Mao Ning told a news conference.

Trump, faced with sinking approval ratings over the war, has sought to assure that the conflict is nearing an end. However, he also warned in a televised address that there would be another “two to three weeks” of heavy strikes that would “bring (Iran) back to the Stone Ages”.

If no agreement with Tehran is struck, he said, Washington would eye key targets including Iran’s electricity generating plants.

Asked about Trump’s threats, Mao told reporters that “military means cannot fundamentally solve the problem, and the escalation of conflicts is not in the interests of either side”.

China is the main buyer of Iranian oil, most of which passes through the strait.

The effective closure of the waterway has sent global oil prices surging by 40 to 50 percent, affecting key industries, particularly the aviation sector.

Several Chinese airlines, including national carrier Air China, said they will raise their fuel surcharges on domestic flights from Sunday as the war in the Middle East drives up oil prices.

Several other airlines, including Air France-KLM, Cathay Pacific, Air India, Qantas, and SAS, have raised their fares to reflect the increase in jet fuel prices, and rerouted flights to avoid the war-torn region.

A barrel of Brent oil, the benchmark reference for energy markets, has risen to around $100 since the United States and Israel attacked Iran on February 28, leading Iran to retaliate against oil installations in several Gulf states.

Comments

Comments are closed for this article.