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.

China imports roughly half of its oil from the Middle East.

Israeli defence analysts have raised the possibility that foreign expertise may have contributed to Iran’s development of these systems, prompting speculation about potential technological support from Russia or China.

Global energy markets reel as China cuts fuel exports and Hormuz shipping halts. Meanwhile, Trump maintains full military control after a failed Senate vote to rein in war powers. Get the latest on the US-Israel-Iran conflict here.

China's foreign minister held talks with Iran and Oman as the U.S.-Israel strikes lead to wider regional conflict.

"The U.S.-Israeli strikes have no United Nations Security Council authorization and violate international law. China is deeply concerned over the regional spillover," ministry spokesperson Mao Ning said during Monday's regular press conference.

By Chen Aizhu and Siyi Liu SINGAPORE, March 2 (Reuters) - Refiners in China, the world's top oil importer, have enough supply on hand to weather near-term disruption from the Iran conflict, bolstered by recent record purchases of Iranian and Russian crude and robust government stockpiling,

China has expressed its anger over Israeli-US strikes on Iran but, despite hits to its oil imports, will not risk its interests by confronting Washington and helping its long-standing partner,

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.