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Whatever the USA's plan was, clearly isn't having the effect on China and the rest of the world they would have imagined. China's transition to electrotech let them ride out the shock without taking a bite from reserves, and the relative trickle of oil they would continue to need, they get at a discount from Russia anyway. Europe, too, is adapting and roughing it out. The lack of helium might be the biggest issue worldwide.
I'd sooner believe incompetence over malice here, that the reason the talks to open the Strait aren't progressing is because Trump needs his sycophants to brief him on the whole situtation multiple times a week. I imagine he's forgotten anything he had done in prior weeks.