>>508350925China does value Iran as an economic and political partner but its interests are mainly commercial. China buys oil from Iran and sells manufactured goods to the country.
While Chinese oil purchase account for 90% Iranian oil exports and 20% GDP, China depends on Iran for only 12-14% of its oil import. Chinaโs energy sources are highly diversified and its top oil suppliers are Russia, Saudi Arabia and Iraq. China also buys more oil from Malaysia and UAE.
As China electrifies and decarbonizes, its oil demand has peaked and is expected to decline gradually. China leads the world in green energy and the gulf region will be less critical over time.