Citi: US-China summit unlikely to resolve Iran conflict

Citigroup's research division has projected that a meeting between U.S. President Donald Trump and Chinese President Xi Jinping will not resolve the conflict between the United States and Iran, Walter Bloomberg reported. Citi stated that maritime transport disruptions from a blockade of the Strait of Hormuz will continue intermittently for the next four to eight weeks. The bank also noted that Iran is likely to prolong the period of tension to gain negotiating leverage and secure revenue.