“If the Middle East is unstable, the world will not be at peace,” Chinese President Xi Jinping said June 19. “If the conflict escalates further, not only will the conflicting parties suffer greater losses, but regional countries will also suffer greatly.”

The US-Iran conflict's impact on Russia presents a complex scenario, potentially acting as both a major geopolitical defeat and a significant economic opportunity

Trump-Xi Summit Set to Shake World Order | Tariff War Back on Table?White House confirms that U.S. President Donald Trump will visit China from March 31 to April 2 — his first trip to Beijing since returning to office.

The Chinese supply ship Taihu is moored in False Bay near Simon's Town, South Africa, Friday, Jan. 9, 2026. (AP Photo/Nardus Engelbrecht) The Chinese supply ship Taihu is moored in False Bay near Simon's Town, South Africa, Friday, Jan. 9, 2026. (AP Photo ...

Iran has been joined by Russia and China in deploying naval vessels for a joint live-fire exercise in the Strait of Hormuz, heightening regional tensions even as negotiators from Washington and Tehran met for diplomatic talks aimed at averting a military confrontation.

Geopolitics will be the main theme of the day, with markets watching the high-stakes talks between the U.S. and Iran, as well as Ukraine and Russia.

Iran temporarily and partially shut down the Strait of Hormuz – the maritime entryway that handles over 20% of the world’s oil and gas shipping – ahead of a second round of nuclear talks with the US.

Supplies of Urals, along with other export grades such as Sokol and Varandey, have added to regular shipments of Russia’s flagship ESPO blend exported from the Far East port of Kozmino, which is geographically closer to China.