International relations, geopolitics, wars, major global shifts
President Trump is meeting China's Xi Jinping to press Beijing to reduce its support for Iran and help reopen the Strait of Hormuz. China is Iran's largest oil buyer, making its stance critical to both the conflict's trajectory and global energy prices.
Donald Trump rejected Iran's ceasefire response as "TOTALLY UNACCEPTABLE," sending oil prices surging more than 4%. Asian stocks traded mixed as the breakdown in U.S.-Iran talks raised fears of Middle East supply disruptions.
Iran rejected a U.S. peace offer and declared it will not yield to American demands, while Washington pressed China to lean on Tehran. The deadlock raises the risk of prolonged Middle East instability and potential oil supply disruption near the Strait of Hormuz.
Asian governments are rationing power, redirecting gas from fertiliser plants, and tapping energy stockpiles as Iran-linked conflict threatens Middle East supply routes. The trade-offs risk slowing economic activity, raising food production costs, and leaving reserves depleted if disruptions continue.
Trump publicly rejected Iran's ceasefire response, conveyed through Pakistani mediators, as "totally unacceptable." Iran had proposed focusing first on ending hostilities and deferring sanctions and nuclear issues, but the rejection leaves the Pakistan-led diplomatic channel under serious strain.
US Treasury Secretary Scott Bessent will meet China's Vice Premier He Lifeng in Seoul on May 13, ahead of a Trump-Xi summit in Beijing. The two chief trade negotiators are expected to finalize the summit agenda, with tariffs and economic issues likely at the center of discussions.
Oil surged over $4 a barrel Monday after Trump called Iran's response to a US peace proposal "unacceptable," keeping the Strait of Hormuz closed and global supply tight. The Trump-Xi meeting in Beijing on Wednesday is now the key near-term catalyst for a potential resolution.
The BJP under Narendra Modi is broadening its national footprint while India's opposition remains fragmented and unable to form a unified challenge. State elections over the next few years will determine whether this structural advantage extends BJP's grip on power well past 2030.
The US Justice Department has opened denaturalisation proceedings against roughly a dozen naturalised citizens, including Indian-origin businessman Debashis Ghosh, accused of a $2.5 million investment fraud.
China has officially confirmed a visit by U.S. President Donald Trump to Beijing, setting up a direct summit between the two countries. The meeting could shift market expectations on trade tariffs, technology restrictions, and broader U.S.-China relations.
Xinhua confirmed Donald Trump will visit China from May 13 to 15 for a summit with Xi Jinping, delayed earlier by U.S. military strikes on Iran. The meeting is closely watched for signals on tariffs, tech controls, and broader U.S.-China trade terms.
Brent crude jumped $3.18 to $104.47 a barrel after US-Iran peace talks collapsed, adding to Friday's gains for a roughly 4% two-day rally. The breakdown removes the prospect of fresh Iranian supply and adds a geopolitical risk premium to oil markets.
Vladimir Putin has signalled openness to peace talks on Ukraine as the US pushes for a ceasefire, but negotiations remain deadlocked on territory, security guarantees, and accountability. The signal shifts diplomatic tone without resolving the core disputes that have blocked any deal.
Oil prices jumped Monday after Israeli PM Benjamin Netanyahu said the conflict with Iran is "not over" and President Trump rejected a Tehran proposal to end hostilities. The developments reduce near-term prospects for de-escalation, keeping a risk premium in crude prices.
Trump and Netanyahu both refused in Sunday interviews to rule out renewed military action against Iran, days after the administration said the war had run its course. The reversal reintroduces uncertainty for oil markets and regional diplomacy.
Trump called Iran's response to US nuclear proposals "unacceptable," while Iran's military said it is ready if war with the US and Israel resumes. The exchange signals a sharp breakdown in diplomacy, keeping oil markets on edge and raising the risk of renewed regional conflict.
South Korea says two unidentified flying objects struck a Korean-operated cargo ship near the Strait of Hormuz on May 4, and an investigation is underway. The incident raises fresh concern about commercial shipping safety in a corridor that carries about 20% of global oil trade.
Trump and Xi are meeting face-to-face for the first time in over six months, with trade, Iran, nuclear issues, and AI all on the agenda. The summit is aimed at stabilising a relationship under strain, and any signals on tariffs or tech restrictions will move markets.
President Trump rejected Iran's latest response to a U.S. ceasefire proposal, delivered through Pakistani mediators on Sunday. The breakdown keeps diplomatic tensions elevated and adds uncertainty to Middle East stability and energy markets.
Trump is expected to press Xi Jinping on China's purchases of Iranian oil during an upcoming summit between the two leaders. A credible commitment from Beijing could tighten global oil supply and weaken Iran's financial position ahead of ongoing nuclear talks.