Back to today’s briefing

Story perspectives

US, China, Russia Ministers Prep Trump-Xi Summit, Discuss Oil, Myanmar

7/18/2026

33 7 Full Breakdown

Summary

Story summary

The summit will convene Secretary of State Marco Rubio, Chinese FM Wang Yi and Russian FM Sergei Lavrov.
The agenda includes preparing for a September summit between President Donald Trump and Xi Jinping.
Discussions will address the Iran-War’s impact on oil imports, 80 % of Strait of Hormuz shipments bound for the region.
Philippine Foreign Secretary Ma. Theresa P. Lazaro will brief ASEAN ministers on talks with Myanmar’s foreign minister.

History

Historical Context

The 1973 Arab oil embargo, launched in October 1973, cut Middle-East exports to the West by about 70% and drove crude prices from $3 to $12 a barrel, sparking a global energy shock. Today, U.S. Senator Marco Rubio, China’s Wang Yi and Russia’s Sergei Lavrov convene to blunt Iran-war disruptions that threaten roughly 80% of Hormuz oil flows, recalling the 1973 crisis.

1 of 2

Story summary

The summit will convene Secretary of State Marco Rubio, Chinese FM Wang Yi and Russian FM Sergei Lavrov.
The agenda includes preparing for a September summit between President Donald Trump and Xi Jinping.
Discussions will address the Iran-War’s impact on oil imports, 80 % of Strait of Hormuz shipments bound for the region.
Philippine Foreign Secretary Ma. Theresa P. Lazaro will brief ASEAN ministers on talks with Myanmar’s foreign minister.

1 / 2