Russia, China and Iran have launched high-intensity joint naval drills in the Gulf of Oman and northern Indian Ocean, signaling deeper military alignment. The Maritime Security Belt exercise unfolds near the Strait of Hormuz — a critical artery for global oil flows.

As Iran’s top trade partner and key energy importer, China can quietly push Tehran toward a deal, especially if it hints that oil purchases or investment flows could be affected by escalations.

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 ...

Russia, China, and Iran have sent ships to participate in joint military exercises to be held in the Strait of Hormuz soon, Russian presidential aide Nikolai Patrushev has announced.

Tensions between the United States and Iran have been ongoing for a long time.

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.