Oil prices dropped by less than 1% on Tuesday after U.S. President Donald Trump's 50-day deadline for Russia to end the war in Ukraine and avoid sanctions eased concerns about any immediate supply disruption.

The summit highlights Tehran's growing relationship with Beijing — and Moscow — following its recent conflict with Israel, which was joined by the United States in attacking Iranian nuclear sites. China's support provides Iran with crucial economic and military backing that stands to weaken U.S.-led sanctions and containment efforts.

Trump's threat against Russia runs parallel to a Senate-led effort to pass crippling sanctions on countries that buy Russian energy.

The European Union did not approve the 18th Russia sanctions package on Tuesday, the EU's foreign chief Kaja Kallas said after a meeting with EU foreign ministers in Brussels.

Latest news and live updates as Trump announces the U.S. will send Patriot missiles to Ukraine and meets with NATO's secretary general.

In a major policy shift underscoring his growing frustration with President Vladimir Putin, Trump on Monday announced new deliveries of weapons to Ukraine and warned that buyers of Russian exports could face sanctions unless Russia agrees to a peace deal on Ukraine.

Japan expressed hope on Tuesday that U.S. President Donald Trump's announcement on a Ukraine arms deal and potential secondary tariffs on Russia would lead to a just and lasting peace between the two countries.

Daniel Martindale, a U.S. citizen who helped the Kremlin target Ukrainian troops and was then spirited out of eastern Ukraine by Russian special forces, has received a Russian passport in Moscow. Russian state television broadcast a report on Tuesday showing Martindale,