International relations, geopolitics, wars, major global shifts
Pakistan is mediating between the US and Iran on a short-term deal to end the current fighting. A senior Pakistani official says the priority is a permanent end-of-war declaration, with other disputes to be settled in subsequent direct talks.
Donald Trump is set to meet Xi Jinping in Beijing next week as the U.S. and China seek to stabilise ties strained by trade disputes, Taiwan tensions, and the Iran war. Markets and policymakers will watch for any signals on tariffs, chip export controls, and China's posture toward Iran.
A US fighter jet struck an Iranian tanker in the Gulf of Oman after it tried to breach a US military blockade, US Central Command confirmed. The strike comes as Iran says it is reviewing a one-page, 14-point US proposal to end the war.
China has sentenced former defence ministers Wei Fenghe and Li Shangfu to death with a reprieve for corruption, a penalty that is almost always commuted to life imprisonment.
China has sentenced former defence ministers Wei Fenghe and Li Shangfu to suspended death sentences, which typically convert to life imprisonment. The verdicts are part of a broader anti-corruption sweep through the upper ranks of the People's Liberation Army.
Iranian state media released video claiming to show wreckage of a downed US drone near the Strait of Hormuz. The incident raises immediate concerns for oil transit security and regional military tensions in one of the world's most critical shipping lanes.
Iranian lawmaker Ebrahim Rezaei dismissed a US peace proposal as "more of an American wish-list than a reality," even as Trump predicted a swift end to the war. The public gap between Washington's optimism and Tehran's skepticism keeps the conflict's timeline and regional stability uncertain.
The UAE has reported incoming missile and drone strikes originating from Iran, according to breaking reports. If confirmed, it would mark a major escalation in Gulf tensions with direct implications for oil markets, regional security, and US military assets in the UAE.
Iran's navy claimed it turned back U.S. warships attempting to enter the Strait of Hormuz on Monday, with state TV reporting a "swift and decisive warning" was issued. The strait carries roughly one-fifth of global oil supply, making any naval confrontation there a direct risk to energy markets.
Iran has blocked tanker traffic through the Strait of Hormuz since late February, triggering oil supply and price shocks. Iran also claimed it struck a U.S. warship in the strait, a claim the U.S. military has denied.
Iran is making war preparations as tensions with the US escalate over the Strait of Hormuz, with Iranian state media claiming a US warship was struck, a claim Washington denies. The standoff threatens one of the world's most critical oil transit routes, with potential to spike global crude prices.
Iran claimed it turned back a US warship from the Strait of Hormuz and alleged a missile strike on American forces; CENTCOM denied the missile claim outright. The standoff raises immediate concerns for oil markets, as the strait carries roughly one-fifth of global oil trade.
Iranian state media claims two missiles struck a US Navy destroyer to stop it entering the Strait of Hormuz. If confirmed, the incident would mark a major escalation in US-Iran tensions, with immediate implications for oil markets and regional shipping.
President Trump announced the US Navy will escort ships through the Strait of Hormuz, a chokepoint for roughly 20% of global oil supply. Iran warned it will attack any foreign armed force that enters the passage, sharpening a standoff with direct implications for oil prices and shipping costs.
Crude oil surged more than 5% on May 4 after a tanker was reportedly struck in the Strait of Hormuz, pushing Brent crude past $114 a barrel. Escalating U.S.-Iran tensions over control of the waterway, through which roughly 20% of global oil supply flows daily, are driving the price spike.
US stock futures fell sharply after reports emerged of an Iranian attack on a US warship, sparking a broad risk-off move. The incident could push oil prices higher and lift volatility across global markets until official confirmation and a US response are clear.
President Trump announced the US will launch Project Freedom on Monday, using American forces to escort stranded ships through the Strait of Hormuz. Iran warned the US to stay out, raising the risk of direct confrontation in a waterway that carries roughly 20% of global oil trade.
Trump announced a new US mission targeting the Strait of Hormuz on day 66 of the Iran conflict, as Iran confirmed receiving a US reply to its peace proposal. The move puts direct pressure on a chokepoint that carries about 20% of global oil supply, raising energy market risk.
Japanese Prime Minister Sanae Takaichi described the Iran-linked oil crisis as having an "enormous impact" on the Asia Pacific during a visit to Australia, where she signed new energy supply agreements. Japan, which imports nearly all its oil, is pushing to diversify supply away from the volatile Middle East.
China has made its most aggressive move yet to counter US financial sanctions, putting global banks that operate in both countries in direct conflict between two sets of rules. Banks that comply with US sanctions risk Chinese penalties, while those that don't risk losing access to the dollar system.