ToplineIran’s Foreign Minister Abbas Araghchi and his Chinese counterpart, Wang Yi, held the highest-level talks between the two countries since the start of the U.S.-Iran war in Beijing on Wednesday, hours after President Donald Trump announced a pause on the U.S. military’s efforts to guide stranded vessels from the Persian Gulf to allow time for a deal to end the conflict. President Donald Trump looks on during a proclamation signing in the Oval Office of the White House.Getty ImagesKey FactsTrump announced the pause on the operation dubbed “Project Freedom” in a Truth Social post, saying he was doing so at the request of “Pakistan and other Countries.”The president claimed “Great Progress” has been made towards a “Complete and Final Agreement” with Iran, without specifying a timeline for a peace deal.Trump said efforts to guide ships out of the Strait of Hormuz will be paused for “a short period of time,” but the U.S. blockade of Iranian ports will remain in effect.Iranian officials have not commented on Trump’s move, but Araghchi had earlier warned that Monday’s skirmishes around Hormuz showed “there's no military solution to a political crisis.”What Do We Know About Iran And China’s Meeting?Araghchi arrived in Beijing early on Wednesday. Chinese state media reported the Iranian Foreign Minister held talks with Wang Yi, the highest-level in-person talks between the two countries since the start of the U.S.-Iran war. No details were shared about what the two leaders discussed, but the meeting comes just days before President Donald Trump is scheduled to visit Beijing for a summit-level meeting with Chinese President Xi Jinping. What Has Trump Said About Xi Jinping And Iran?On Tuesday at the White House, Trump was asked about his upcoming meeting with Xi and how he would bring up the Iran war. The president said: “That’ll be one subject, but he’s [Xi] been very nice about this. He gets 60% of his oil from Hormuz. I think he’s been very respectful.”TangentIn a press conference on Tuesday, Secretary of State Marco Rubio said he hoped Wang would tell Araghchi “what he needs to be told.” He added: “And that is that what you are doing in the strait is causing you to be globally isolated. You’re the bad guy in this.” Rubio also noted that it was also in China’s best interest to get the Strait of Hormuz reopened.How Have Oil Prices Been Impacted By Trump’s Pause?The global benchmark Brent Crude Futures index fell to $108 per barrel, down 1.7% compared to the previous days close amid renewed hopes of a peace deal. The start of “Project Freedom” and skirmishes in the Strait of Hormuz—which included the U.S. Navy sinking multiple Iranian attack boats and a barrage of missile and drone launches by Tehran—had spiked oil prices past $114 per barrel on Tuesday.Further ReadingIran Says US Is Jeopardizing Hormuz Transit—As Trump Won’t Say If Ceasefire Is Over (Forbes)