WASHINGTON, May 4 (Reuters) - U.S. Treasury Secretary Scott Bessent on Monday urged China to step up its diplomatic efforts to persuade Iran to open the Strait of Hormuz to international shipping, adding that the subject will be discussed when President Donald Trump meets with Chinese President Xi Jinping next week.
"China, let's see them step up with some diplomacy and get the Iranians to open the strait," Bessent said during a live Fox News Channel interview.
Bessent said that China was buying 90% of Iran's energy, "so they are funding the largest state sponsor of terrorism."
He said that he was urging China to "join us in this international operation" to open the strait, but he did not specify what action Beijing should take. He added that China and Russia should stop blocking initiatives moving through the United Nations, such as a resolution encouraging steps to protect commercial shipping in the Strait of Hormuz.
Bessent said Trump and Xi have been discussing the Iran situation and will exchange views on this in person during their May 14-15 summit in Beijing. But he emphasized that the two will strive to maintain stability in the U.S.-China relationship that was established with their trade truce reached last October in Busan, South Korea.
"We've had great stability in the relationship, and again, that comes from the two leaders having great respect for each other," he said.
Bessent also insisted that the United States is fully in control of the Strait of Hormuz through its blockade of Iranian shipping and that the new U.S. Navy operation to guide shipping through the strategic waterway will bring oil prices down. He called high fuel prices a "temporary aberration" that will end in a matter of weeks or months.
"Again, we are cognizant that this short-term blip up in prices is affecting the American people, but I am also confident on the other side of this, prices are going to come down very quickly," Bessent said, adding that the oil market will be well-supplied.
Reporting by David Lawder, and Susan Heavey; Writing by David Lawder and Daphne Psaledakis; Editing by Nick Zieminski and Hugh Lawson
