Iran live updates: Trump says he’s in 'no hurry' to make a peace deal with Iran

Chinese President Xi Jinping hosted Russian President Vladimir Putin in Beijing on Wednesday, with the two leaders releasing a joint statement urging an end to the U.S.-Israeli war with Iran as a matter of "utmost urgency."

"The sides agree that military strikes by the United States and Israel on Iran breach international law and fundamental norms of international relations and seriously undermine stability in the Middle East," the joint statement published on the Kremlin website said.

The statement stressed "the need for a return as soon as possible of the conflicting parties to dialogue and negotiations aimed to prevent the conflict zone from spreading and urged the international community to maintain an objective and impartial position, to assist de-escalation, and to defend the fundamental norms of international relations together."

The two leaders also condemned what they called "treacherous military strikes against other countries, the hypocritical use of negotiations as cover for preparing such strikes, the assassination of leaders of sovereign states, the destabilization of the domestic political situation in these states and the provocation of regime change, and the brazen kidnapping of national leaders for trial."

-ABC News' Joe Simonetti

The Islamic Revolutionary Guard Corps said in a statement published on Wednesday that the "regional war will this time extend beyond the region" if U.S.-Israeli attacks on Iran resume.

"Although they attacked us with the full capabilities of two of the most expensive armies in the world, we did not deploy all the capacities of the Islamic Revolution against them," the IRGC said in its statement, which was published by the semi-official Tasnim News Agency.

"We are men of war. You will witness our strength on the battlefield, not in hollow statements or virtual pages," the IRGC added.

-ABC News' Joe Simonetti

Iranian Foreign Minister Abbas Araghchi said in a post to social media on Tuesday that Tehran is preparing new military capabilities in the event that war with the U.S. and Israel resumes.

"With lessons learned and knowledge we gained, return to war will feature many more surprises," Araghchi said, referring to the first round of fighting which began with joint U.S.-Israeli strikes on Iran on Feb. 28.

President Donald Trump once again downplayed the war’s economic impact on Americans, saying that the financial setbacks are "peanuts" compared to the chance of Iran having a nuclear weapon.

"Everything's going good. I'm sorry, but we have to go down and take a little journey down to --we have to do something with Iran," Trump said in response to a question about high gas prices during an event showing the construction of the White House ballroom. "We cannot let them have a nuclear weapon. You want to see the world exploded? You want to see a problem? And this is peanuts."

The president, who has brushed off concerns about high prices, said "I appreciate everybody putting up with it for a little while. It won't be much longer."

He said that Americans “fully understand” his decision to carry out the war in Iran, adding that an abundance of oil is coming to the U.S. to quell concerns.

-ABC News' Isabella Murray and Michelle Stoddart