Why China’s jet fuel deal with Australia underscores Canberra’s balancing act
Meeting between top diplomats Wang Yi and Penny Wong signals continuing thaw in bilateral relationship after years of diplomatic freeze
China will work with Australian businesses on jet fuel shipments in an important “first step” in alleviating supply crunches, according to Australian Foreign Minister Penny Wong.
“Inputs China supplies to Australia, including jet fuel, support the Australian resources sector, which in turn helps to maintain the flow of commodities that are so important in the bilateral trading relationship,” Wong said, according to an Australian foreign ministry statement.
Canberra is scrambling to shore up its fuel supplies after Beijing curtailed fuel exports to safeguard its own domestic stock in the midst of the effective closure of the Strait of Hormuz.
During the talks on Wednesday, both countries also reaffirmed their commitment to “uphold multilateralism”, according to the Chinese foreign ministry.