US Treasury Secretary Scott Bessent urged China to support Washington's sanctions campaign against Iran, arguing that Beijing could benefit from lower oil prices if pressure helped reopen the Strait of Hormuz. China has accounted for over 90% of Iranian oil purchases in recent periods as other buyers reduced exposure to US sanctions. About 20 million barrels of oil pass through the strait daily, representing roughly 20% of global petroleum liquids consumption. Bessent avoided publicly discussing whether Chinese companies could face direct US penalties, saying such talks were better handled privately, but his appeal was explicit. He has described cooperation as a win-win rather than a threat. The remarks came ahead of a forthcoming meeting between US President Trump and Chinese President Xi and followed earlier claims that the US had "absolute control" of the waterway, as well as a later suggestion that a US-Iran agreement could restore "freedom of movement."