Treasury Secretary Bessent's Tally Hits Three: China Branded 'Unreliable Global Partner' Over Energy Hoarding

U.S. Treasury Secretary Scott Bessent has formally added a third entry to his running list of China's failures as a global partner, citing Beijing's current refusal to release oil reserves during the Gulf energy shock. In a pointed briefing, Bessent framed China's decision to continue panic-buying crude and refined products—instead of joining international efforts to stabilize supplies—as the latest demonstration of unreliability, directly impacting global energy security.

The accusation builds on a specific five-year pattern Bessent outlined. The first instance was China's hoarding of healthcare products during the COVID-19 pandemic. The second was Beijing's weaponization of rare earth exports against the U.S. last year, a move that disrupted American supply chains and led to temporary shutdowns, including at Ford Motor Company production lines. The current energy hoarding, amid the Strait of Hormuz closure, now marks the third strike.

This public tally from a senior U.S. cabinet official signals a hardening diplomatic and economic posture. It frames China's actions not as isolated incidents but as a recurring strategic pattern that undermines collective crisis response. The critique places direct pressure on Beijing's role in global commodity markets and raises questions about the stability of U.S.-China cooperation on future supply shocks, with energy security now a central point of contention.