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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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.