War and China The U.S. and Israeli attacks on Iran also involve China, tangentially if not directly. Iran has been supplying about 13.4 percent of China’s oil imports, roughly 1 million barrels per day. The attacks follow the U.S. removal of Venezuela’s leader, a country that is a smaller supplier of oil to China but still important. Beijing has called the attacks unacceptable, reckless, destabilizing, and has demanded restraint. But thus far it has only used words. Oil is fungible. Supplies from Russia and other Middle East countries will likely increase, but they will come at a higher price.  President Trump says he may provide military security for shipping through the Strait of Hormuz, through which a fifth of traded oi...