By Updates with backgroun in paragraphs 4-7

WASHINGTON, July 24 (Reuters) - U.S. President Donald Trump said on Friday that he does not believe China or Russia are "participating" in the ongoing Iran conflict, but warned that if they did get involved "it would be very bad for them."

"President Xi, at our recent meeting in Beijing, China, told me that he would not, under any circumstances, give or sell Weapons to the Islamic Republic of Iran — And that statement included Chinese Companies," he wrote on Truth Social.