Last year it was given full membership of the Shanghai Co-operation Organisation, a Eurasian security and economic club dominated by China and Russia. In January Iran was admitted to BRICS, another group that China and Russia are trying to nurture as a bastion of West-sceptics.

Chinese Foreign Minister Wang Yi called on all parties involved in tensions between Israel and Iran on Monday to exercise caution and avoid escalating the situation.

Chinese Foreign Minister Wang Yi reiterated Beijing’s stance on the Gaza conflict, calling for an immediate, comprehensive, and permanent ceasefire.

Crude benchmarks slumped on Tuesday as traders fretted about weak Chinese demand and weighed up a report saying that Israel won't attack Iranian oil targets.

Iranian Foreign Minister Abbas Araghchi told Wang Yi that his country didn’t want to see the already existing regional conflict expand, according to the Chinese Foreign Ministry.