In short, the oil math is skewed against the White House. The blockade has a slim chance of working. With apologies to John Maynard Keynes, Iran can remain defiant — and China unconcerned — longer than Trump can remain solvent.

 

The Hormuz Blockade Is as Much About China as Iran

April 13, 2026 at 11:00 PM EDT

By Javier Blas

Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.”