U.S. Treasury Criticizes China's Unreliable Oil Hoarding During War

Bessent says China's actions mirror pandemic supply restrictions

Apr. 15, 2026 at 4:24am

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An abstract composition of overlapping triangles and rectangles in shades of blue, red, and yellow, conceptually representing the instability and lack of trust in global economic partnerships.Tensions escalate as the U.S. accuses China of self-interested oil hoarding and export restrictions during a global crisis.Washington Today

U.S. Treasury Secretary Scott Bessent criticized China for being an unreliable global partner during the Middle East war, accusing the country of hoarding oil supplies and limiting exports of certain goods, similar to its actions with medical goods during the COVID-19 pandemic.

Why it matters

Bessent's comments highlight ongoing tensions between the U.S. and China over economic and geopolitical issues, with the Treasury Secretary calling out China's perceived self-interested actions that undermine global stability and cooperation during times of crisis.

The details

Bessent told reporters that he had spoken with Chinese officials and conveyed the message that the U.S. is seeking stability in the relationship, which has improved since last summer. However, he criticized China's actions during the war, accusing the country of hoarding oil supplies and restricting exports of certain goods, mirroring its behavior during the COVID-19 pandemic when it limited exports of medical equipment.

  • Bessent made the comments on Tuesday, April 15, 2026.

The players

Scott Bessent

The U.S. Treasury Secretary who criticized China's actions during the Middle East war.

China

The country that Bessent accused of being an unreliable global partner by hoarding oil supplies and limiting exports of certain goods during the war.

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What they’re saying

“I ‌think the message for the ⁠visit is stability. We've had great stability in the relationship since ​last summer; that emanates from the top down,”

— Scott Bessent, U.S. Treasury Secretary

The takeaway

Bessent's criticism of China's actions during the war highlights the ongoing tensions and lack of trust between the two global economic powers, raising concerns about the reliability of China as a partner during times of crisis and the potential for further economic and geopolitical conflicts.