Russia offers China energy lifeline as Iran war strangles supply

Russia has offered to help China with a possible energy deficit as the war in the Middle East exacerbates geopolitical divisions and threatens global commodity supplies.

“Russia can certainly fill the resource gap emerging in China and other countries that want to work with us on an equal and mutually beneficial basis,” Russian Foreign Minister Sergei Lavrov said on Wednesday. he said. reported From the Russian news agency Interfax.

Russia’s top diplomat also commented on China and Russia’s ability to withstand the economic impact of “aggressive” US military operations against Iran, which has caused global oil and gas prices to soar.

“Thank God, we and China have all the capabilities, both currently in use and in reserve and planned, to avoid dependence on such aggressive adventures. [the situation in the Middle East]”This harms the global economy and global energy,” Lavrov said at a press conference in Beijing.

Russia’s offer came after Lavrov met with Chinese President Xi Jinping in Beijing on Wednesday. Officials reaffirmed the friendship and strategic cooperation of Russia and China. Both parties are interested in the relationshipsteady In the middle of all kinds of storms.”

China’s foreign ministry said in a statement on Wednesday that the countries “carry out practical cooperation in the field of energy” on the basis of “mutual respect and mutual benefit”, Reuters reported.

While Russian President Vladimir Putin is planned to visit China in the first half of the year, it was stated that the meeting could be held in the week of May 18, according to sources quoted by Russia’s Vedemosti newspaper. US President Donald Trump will also meet with President Xi at the summit to be held on May 14-15.

Moscow and Beijing condemned US and Israeli military operations against Iran.

However, with the rise in oil prices, the conflict became profitable for Moscow. China’s resilience, meanwhile, has benefited Chinese asset prices since the start of the war.

Still, both Russia and China have an interest in seeing the war end as soon as possible; Iran is one of Russia’s key allies in the Middle East and does not want another partner to fall.

Meanwhile, China is dependent on Iran for crude oil imports. There are also other goods that need to be transported through the Strait of Hormuz sea passage, which is currently under a US blockade.

Data released on Tuesday showed China’s crude oil and gas imports fell in March from a year ago, signaling that disruptions to supplies from the Middle East were starting to take effect.

China boasts significant oil stocks and a diversified energy mix, meaning its exposure to the global energy shock caused by the Iran war is more manageable than other major economies. However, the world’s second-largest economy is dependent on global energy supplies, and long-term disruptions could cost China dearly.

Meanwhile, major oil and gas producer Russia has seen an unexpected fallout from the Iran war, as Middle Eastern energy supplies have been affected, prompting major buyers India and China to significantly increase imports. greatly increase Russia‘Fossil fuel export revenues In the first quarter of 2026, 90% of Russia’s total crude oil exports were to China and India. data shows.

Russia and China have condemned the blockade, which prevents ships from entering and leaving Iranian ports, and a Chinese Foreign Ministry spokesman harshly criticized the “dangerous and irresponsible action” that would further inflame tensions in the region in unusually outspoken comments on Tuesday.

— CNBC’s Anniek Bao contributed to this story.