Iran’s navy and allied militia vessels have continued to impede merchant ships transiting the strategic Strait of Hormuz, the narrow waterway through which roughly 20.9 million barrels of petroleum products passed each day before the blockade, according to the U.S. Energy Information Administration.
At the same time, the Iran‑backed Houthi movement in Yemen has captured the Red Sea port of Mokha, advanced toward the Bab el‑Mandeb Strait and taken control of several strategic islands, further threatening the flow of oil and commercial cargo through the second major chokepoint linking the Indian Ocean to the Mediterranean.
U.S. officials note that the combined pressure on Hormuz and Bab el‑Mandeb is eroding the West’s ability to influence regional oil prices and could undermine confidence in American security guarantees for Gulf states.
China remains Iran’s primary oil buyer, accounting for roughly 90 % of Tehran’s exports, a figure cited by the U.S.–China Economic and Security Review Commission. The partnership has allowed Iran to sustain its Revolutionary Guard and proxy networks despite sanctions.
Iran’s accessible oil stockpile has reportedly fallen from about 90 million barrels to roughly 29 million barrels, according to The Wall Street Journal, as the blockade limits its ability to replenish reserves.
Former Associated Press editor Dan Perry argues that the upcoming September 24 summit between President Donald Trump and Chinese President Xi Jinping presents a diplomatic opening for the United States to press Beijing to cut Iranian oil purchases, reopen Hormuz without discriminatory tolls, and cease any military assistance to Tehran.
Perry proposes a reciprocal incentive: offering China limited, verifiable participation in Venezuela’s oil sector in exchange for a measurable reduction in Iranian oil imports, with any breach triggering an automatic reinstatement of sanctions.
The editorial notes that while China benefits from Iranian oil as a “buyer of last resort,” the prolonged instability in the Persian Gulf threatens Chinese energy imports from Saudi Arabia, the UAE, Iraq and Qatar, which flow through Hormuz to Asian markets.
If the United States can persuade China to curtail its oil purchases, Perry contends that Iran’s ability to weather Western pressure will diminish, potentially forcing Tehran to reopen Hormuz and reduce proxy activity in the Red Sea.