Gulf leaders convened in Saudi Arabia on April 28 to discuss a coordinated response to Iranian strikes. On April 29, the U.S. Treasury warned financial institutions about sanctions risks linked to Chinese refineries, as China purchases about 90% of Iran's oil exports. Tensions escalated with the U.S. conducting military strikes against Iran, while Iran proposed ending the war and lifting sanctions. On May 20, Xi Jinping called for a 'comprehensive ceasefire' in the Middle East.
