Due to Western sanctions and associated risks, China has been the biggest buyer of Iranian oil. The Pakistan-flagged crude oil tanker Karachi, controlled by the Pakistan National Shipping Corp., passed through the strait on Sunday, Lloyd's List Intelligence said. Iraq was also in talks with Iran to allow Iraqi oil tankers through the Strait of Hormuz, its state-run news agency reported. To try to stabilise oil prices, the US said it was allowing Iranian oil tankers to cross the strait. The latest passages through the Strait of Hormuz show the strait was not simply "closed," Cao said.

Source: The Telegraph March 18, 2026 10:40 UTC