Uncertainty Faces China Inc's Projects in Iran
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President Donald Trump’s looming meeting with China's Xi Jinping will face new tensions after U.S.-Israeli strikes on Iran that killed its China-friendly supreme leader.
Iran maintains ties with a range of countries, including Turkey, India, Russia and China. Yet in this war, their support is mostly rhetoric.
China is set to appoint a special envoy for mediation in the escalating Middle East conflict. Iran has restricted the Strait of Hormuz to Chinese vessels only, citing it as a gesture of gratitude for China's backing amid ongoing tensions.
China joined India in urging diplomacy to end the Iran war, offering mediation as regional tensions escalate. Meanwhile, fighting continues with missile exchanges and widening security concerns across the Middle East.
In quick succession, US President Donald Trump has taken out two of Beijing’s closest allies: Venezuelan President Nicolás Maduro and Iranian Supreme Leader Ali Khamenei.
Speaking exclusively with Fortune, Wilbur Ross said the Iran war “is going at least as well as anyone could have hoped,” and that he is “intrigued” that China and Russia have not intervened.
The National Development and Reform Commission met with refinery executives and verbally called for a temporary stop of refined product shipments immediately.
Analysts debate whether the absence of Chinese support for the embattled regime is a matter of strategy or capability.