U.S. President Donald Trump announced that China has agreed to halt the shipment of weapons to Iran, coinciding with U.S. efforts to reopen the Strait of Hormuz. This strategic waterway is crucial, handling approximately 20% to 30% of the global seaborne oil trade. According to NS3.AI, China has refuted these claims, labeling the U.S. blockade as a perilous action that could escalate confrontations.
The United States initiated a targeted blockade of Iranian ports around April 13, significantly impacting maritime traffic through the strait. Shipping data indicates that the flow remains heavily restricted. Bitwise has observed that the ongoing crisis is enhancing Bitcoin's significance in global finance, with the cryptocurrency appreciating by 12% since airstrikes commenced on February 28.