Russian President Vladimir Putin may have lost another close ally after the death of Iranian Supreme Leader Ayatollah Ali Khamenei, but an oil shock from conflict in Middle East spells potential good news for his war chest.
What matters for China the most:
Positive for them:
US busy, uses its military reserves at scale
Europe busy (between Putin and Trump)
Taiwan opens up
BUT:
Strait of Hormuz traffic went down by 70% today. 45% of their crude oil goes through the Strait of Hormuz. Their next choice - Russia.
