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Reuters
an hour ago
- Business
- Reuters
Morning Bid: Relief at two-week Middle East window
LONDON, June 20 (Reuters) - What matters in U.S. and global markets today I'm excited to announce that I'm now part of Reuters Open Interest (ROI), opens new tab, an essential new source for data-driven, expert commentary on market and economic trends. You can find ROI on the Reuters website, opens new tab, and you can follow us on LinkedIn, opens new tab and X., opens new tab Last month's China-U.S. trade showdown turned world markets' focus to Geneva, and that's where attention is yet again, only this time for European talks with Iran, as President Donald Trump has delayed a decision on direct U.S. involvement in the Israel-Iran war to allow a two-week window for negotiations. It's Friday, so I'll provide a quick overview of what's happening in global markets and then offer you some weekend reading suggestions away from the headlines. Today's Market Minute * Iran said on Friday it would not discuss the future of its nuclear programme while under attack by Israel, as Europe sought to draw Tehran back into negotiations and the United States considers whether to get involved in the conflict. * Investor unease about an increasingly uncertain environment is rising, as Norway's shock rate cut on Thursday highlights how U.S. tariffs, Middle East conflict and a shaky dollar make global monetary policy and inflation even harder to predict. * The Federal Reserve took a slightly hawkish turn on Wednesday, indicating it is worried more about rising inflation than slowing growth. But Chair Jerome Powell suggested this outlook should be taken with a large grain of salt, writes ROI markets columnist Jamie McGeever. * The Israel-Iran conflict has boosted global diesel prices, with gains outstripping the jump in crude prices, highlighting the vulnerability of diesel-heavy European consumers even as the region's refiners get a windfall. Read the latest from ROI energy columnist Ron Bousso. * UK finance minister Rachel Reeves insists higher economic growth is her top priority, but the government's current plan to address the country's chronically low investment is unlikely to be ambitious enough. What may be needed is a structural rethink of the finance ministry itself, argues Mike Peacock, the former head of communications at the Bank of England. Relief at two-week Middle East window Even though U.S. markets were closed for the Juneteenth holiday on Thursday, Wall St futures fell sharply during the day as tensions over the Israel-Iran war boiled. But those losses were mostly reversed before the market re-opened on Friday after Trump gave Tehran a fortnight to come up with a compromise before he decides whether to add U.S. firepower to Israel's air attacks on Iranian nuclear installations. Drone and missile attacks between the two warring sides continue, however. As is always the case with Middle East conflicts, the price of oil is the lodestar. Iran is OPEC's third-largest producer. U.S. crude came within a whisker of five-month highs on Thursday before falling back today to just over $75 per barrel. While a major concern, the rise in energy prices is still shy of a "shock", with crude prices down 7% year-on-year despite the tense situation. Foreign ministers from Britain, France and Germany along with the European Union's foreign policy chief were due to meet their Iranian counterpart Abbas Araqchi in Geneva on Friday to try to de-escalate the conflict. If Trump goes to the wire with his decision about direct U.S. involvement in the war, this will coincide with the expiration of his 90-day pause on "reciprocal" tariff hikes across the world, further fogging up the windscreen for world markets. Treasury yields were steady going into Friday's open, as investors juggled the energy picture and this week's relatively hawkish Federal Reserve meeting. The dollar fell back (.DXY), opens new tab from Thursday's highs. While the median forecast from Fed policymakers is still two interest rate cuts over the rest of the year, inflation forecasts were nudged higher and 7 of the 19 central bankers now expect no further easing in 2025. But confident forecasting is next to impossible now for the major central banks as they try to balance edgy oil prices, uncertain tariff hikes and multiple geopolitical risks. The Bank of England and Bank of Japan also left their key policy rates unchanged this week, largely for those reasons. Two rate cuts did emerge this week, however. Swiss interest rates returned to zero as expected as the Swiss National Bank battles the deflationary effects of currency strength , largely due to the franc's "safe haven" appeal. Norway surprised with a quarter point cut as well, taking the heat out of an oil-driven crown that had hit two-year highs this week. Stock markets (.STOXX), opens new tab, (.HSI), opens new tab around the world rallied on Friday as the oil price fell back, with Japan's Nikkei (.N225), opens new tab bucking that trend and ending slightly in the red again. A relatively thin trading session is expected on Wall Street later following the holiday on Thursday, though unfolding events in the Middle East will continue to create considerable trepidation before the close. The Philadelphia Fed's June business survey tops the data diary. Next week's events are led by Fed boss Jerome Powell's semi-annual congressional testimony on Tuesday and Wednesday and the release of the Fed's favored inflation gauge - the personal consumption expenditures measure - on Friday. A NATO summit in The Hague on Wednesday adds to the geopolitical focus. Elsewhere, sterling was firmer in the wake of the BOE decision, even with a surprisingly poor UK retail sales readout for May. There was some marginally better news from UK public borrowing numbers. While slightly above forecasts for May, the government has borrowed 37.7 billion pounds over the first two months of the 2025/26 fiscal year, less than the 40.7 billion pounds the Office for Budget Responsibility had predicted. In China, foreign direct investment from January to May fell 13.2% from the same period last year, more than had been forecast. And the European Union said it will bar Chinese companies from participating in EU public tenders for medical devices worth 60 billion euros or more ($68.9 billion) per year after concluding that EU companies are not given fair access in China. Weekend reading suggestions * MONETIZING DEBT: With no end in sight for outsize U.S. deficits and debt accumulation, the Fed "will almost certainly" be forced to monetize enough federal debt to prevent a default at some point, opens new tab, according to former Bank of England policymaker Willem Buiter and Professor Anne Sibert. Higher inflation and interest rates "are all but assured", they wrote in a column on Project Syndicate. "The Fed will have no choice but to engage in sovereign debt purchases that it knows to be incompatible with its monetary-policy objectives," they concluded. "The inflation surge could be no more than three years away." * EMOTIONAL FED?: Central bank communication is one of the most closely watched signals by markets, but it is not just what is said, but how it is said,, opens new tab argue economists Dimitris Anastasiou, Apostolos Katsafados, Christos Tzomakas and Steven Ongena in a paper on CEPR's VoxEU site. "Even subtle emotional cues can shift expectations and pricing behaviour in financial markets," they wrote. "Portfolio managers, particularly in the banking sector, may need to recalibrate models to include emotional tone as a market-moving variable." * US FIRMS MUSCLE IN: U.S. defense giants, backed by a Congressional delegation, used this week's Paris Airshow to showcase their cutting-edge technology and court European partners as they seek to tap into the rising regional military spending. Reuters' Joe Brock, Giulia Segreti, Paul Sandle and Tim Hepher show how despite the pledges by many European nations to boost military self-sufficiency, the continent remains heavily reliant on U.S. defense firms such as Lockheed Martin, Raytheon, Boeing, Anduril, Palantir and Elon Musk's SpaceX. * G6-PLUS?: President Trump's early departure from this week's G7 summit in Canada left the group without an overarching agreed communique and raised questions about the future shape of the group, opens new tab. Writing on the Chatham House site, the RIIA's economy and finance director Creon Butler outlines different formats that could be considered, including "G6-plus" without the full attendance of the United States or "G7-plus" with invited guests and limited issue-specific statements. * REFINING OKLAHOMA: Nestled beneath Oklahoma's Wichita Mountains sits a warehouse containing the only machine in the United States capable of refining nickel, a crucial energy transition metal now dominated by China. President Donald Trump has said he wants to boost U.S. production of minerals and, as Reuters' Ernest Scheyder shows, Oklahoma's push into minerals processing marks a turn in efforts to wean America off Chinese rivals. The state houses the country's only nickel refinery, its largest lithium refinery, two lithium-ion battery recycling plants, a rare earths magnet facility, and several electronic waste collection facilities. That's more than in any other state. Chart of the day During the parade of central bank meetings this week, Swiss interest rates returned to zero, and Norway's central bank surprised markets with a quarter point cut. Both decisions were currency-related and have been influenced by the swooning dollar and rising geopolitical tensions. The supercharged Swiss franc has drawn safe-haven demand and threatens Switzerland with deflation, as it flirts with 10-year highs against the green back. The Norwegian crown is highly linked to the oil price and hit its strongest level in two years this month as crude shot higher on Middle East worries. The major central banks all held the line, largely due to growing uncertainty over trade, oil prices and war. Today's events to watch * Philadelphia Federal Reserve's June business survey (8:30 a.m. EDT), May leading indicator (10:00 a.m. EDT); Canada May house prices, retail sales and producer prices (8:30 a.m. EDT) * European foreign ministers meet Iranian counterpart in Geneva * European Union finance ministers meet in Luxembourg, European Central Bank Vice President Luis de Guindos attends * U.S. corporate earnings: Accenture, Kroger, Carmax, Vertex Pharmaceuticals, Darden Restaurants Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias. Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here.
Yahoo
an hour ago
- Business
- Yahoo
Morning Bid: Relief at two-week Middle East window
By Mike Dolan LONDON (Reuters) -What matters in U.S. and global markets today I'm excited to announce that I'm now part of Reuters Open Interest (ROI), an essential new source for data-driven, expert commentary on market and economic trends. You can find ROI on the Reuters website, and you can follow us on LinkedIn and X. Last month's China-U.S. trade showdown turned world markets' focus to Geneva, and that's where attention is yet again, only this time for European talks with Iran, as President Donald Trump has delayed a decision on direct U.S. involvement in the Israel-Iran war to allow a two-week window for negotiations. It's Friday, so I'll provide a quick overview of what's happening in global markets and then offer you some weekend reading suggestions away from the headlines. Today's Market Minute * Iran said on Friday it would not discuss the future of its nuclear programme while under attack by Israel, as Europe sought to draw Tehran back into negotiations and the United States considers whether to get involved in the conflict. * Investor unease about an increasingly uncertain environment is rising, as Norway's shock rate cut on Thursday highlights how U.S. tariffs, Middle East conflict and a shaky dollar make global monetary policy and inflation even harder to predict. * The Federal Reserve took a slightly hawkish turn on Wednesday, indicating it is worried more about rising inflation than slowing growth. But Chair Jerome Powell suggested this outlook should be taken with a large grain of salt, writes ROI markets columnist Jamie McGeever. * UK finance minister Rachel Reeves insists higher economic growth is her top priority, but the government's current plan to address the country's chronically low investment is unlikely to be ambitious enough. What may be needed is a structural rethink of the finance ministry itself, argues Mike Peacock, the former head of communications at the Bank of England. Relief at two-week Middle East window Even though U.S. markets were closed for the Juneteenth holiday on Thursday, Wall St futures fell sharply during the day as tensions over the Israel-Iran war boiled. But those losses were mostly reversed before the market re-opened on Friday after Trump gave Tehran a fortnight to come up with a compromise before he decides whether to add U.S. firepower to Israel's air attacks on Iranian nuclear installations. Drone and missile attacks between the two warring sides continue, however. As is always the case with Middle East conflicts, the price of oil is the lodestar. Iran is OPEC's third-largest producer. U.S. crude came within a whisker of five-month highs on Thursday before falling back today to just over $75 per barrel. While a major concern, the rise in energy prices is still shy of a "shock", with crude prices down 7% year-on-year despite the tense situation. Foreign ministers from Britain, France and Germany along with the European Union's foreign policy chief were due to meet their Iranian counterpart Abbas Araqchi in Geneva on Friday to try to de-escalate the conflict. If Trump goes to the wire with his decision about direct U.S. involvement in the war, this will coincide with the expiration of his 90-day pause on "reciprocal" tariff hikes across the world, further fogging up the windscreen for world markets. Treasury yields were steady going into Friday's open, as investors juggled the energy picture and this week's relatively hawkish Federal Reserve meeting. The dollar fell back from Thursday's highs. While the median forecast from Fed policymakers is still two interest rate cuts over the rest of the year, inflation forecasts were nudged higher and 7 of the 19 central bankers now expect no further easing in 2025. But confident forecasting is next to impossible now for the major central banks as they try to balance edgy oil prices, uncertain tariff hikes and multiple geopolitical risks. The Bank of England and Bank of Japan also left their key policy rates unchanged this week, largely for those reasons. Two rate cuts did emerge this week, however. Swiss interest rates returned to zero as expected as the Swiss National Bank battles the deflationary effects of currency strength, largely due to the franc's "safe haven" appeal. Norway surprised with a quarter point cut as well, taking the heat out of an oil-driven crown that had hit two-year highs this week. Stock markets around the world rallied on Friday as the oil price fell back, with Japan's Nikkei bucking that trend and ending slightly in the red again. A relatively thin trading session is expected on Wall Street later following the holiday on Thursday, though unfolding events in the Middle East will continue to create considerable trepidation before the close. The Philadelphia Fed's June business survey tops the data diary. Next week's events are led by Fed boss Jerome Powell's semi-annual congressional testimony on Tuesday and Wednesday and the release of the Fed's favored inflation gauge - the personal consumption expenditures measure - on Friday. A NATO summit in The Hague on Wednesday adds to the geopolitical focus. Elsewhere, sterling was firmer in the wake of the BOE decision, even with a surprisingly poor UK retail sales readout for May. There was some marginally better news from UK public borrowing numbers. While slightly above forecasts for May, the government has borrowed 37.7 billion pounds over the first two months of the 2025/26 fiscal year, less than the 40.7 billion pounds the Office for Budget Responsibility had predicted. In China, foreign direct investment from January to May fell 13.2% from the same period last year, more than had been forecast. And the European Union said it will bar Chinese companies from participating in EU public tenders for medical devices worth 60 billion euros or more ($68.9 billion) per year after concluding that EU companies are not given fair access in China. Weekend reading suggestions * MONETIZING DEBT: With no end in sight for outsize U.S. deficits and debt accumulation, the Fed "will almost certainly" be forced to monetize enough federal debt to prevent a default at some point, according to former Bank of England policymaker Willem Buiter and Professor Anne Sibert. Higher inflation and interest rates "are all but assured", they wrote in a column on Project Syndicate. "The Fed will have no choice but to engage in sovereign debt purchases that it knows to be incompatible with its monetary-policy objectives," they concluded. "The inflation surge could be no more than three years away." * EMOTIONAL FED?: Central bank communication is one of the most closely watched signals by markets, but it is not just what is said, but how it is said, argue economists Dimitris Anastasiou, Apostolos Katsafados, Christos Tzomakas and Steven Ongena in a paper on CEPR's VoxEU site. "Even subtle emotional cues can shift expectations and pricing behaviour in financial markets," they wrote. "Portfolio managers, particularly in the banking sector, may need to recalibrate models to include emotional tone as a market-moving variable." * US FIRMS MUSCLE IN: U.S. defense giants, backed by a Congressional delegation, used this week's Paris Airshow to showcase their cutting-edge technology and court European partners as they seek to tap into the rising regional military spending. Reuters' Joe Brock, Giulia Segreti, Paul Sandle and Tim Hepher show how despite the pledges by many European nations to boost military self-sufficiency, the continent remains heavily reliant on U.S. defense firms such as Lockheed Martin, Raytheon, Boeing, Anduril, Palantir and Elon Musk's SpaceX. * G6-PLUS?: President Trump's early departure from this week's G7 summit in Canada left the group without an overarching agreed communique and raised questions about the future shape of the group. Writing on the Chatham House site, the RIIA's economy and finance director Creon Butler outlines different formats that could be considered, including "G6-plus" without the full attendance of the United States or "G7-plus" with invited guests and limited issue-specific statements. * REFINING OKLAHOMA: Nestled beneath Oklahoma's Wichita Mountains sits a warehouse containing the only machine in the United States capable of refining nickel, a crucial energy transition metal now dominated by China. President Donald Trump has said he wants to boost U.S. production of minerals and, as Reuters' Ernest Scheyder shows, Oklahoma's push into minerals processing marks a turn in efforts to wean America off Chinese rivals. The state houses the country's only nickel refinery, its largest lithium refinery, two lithium-ion battery recycling plants, a rare earths magnet facility, and several electronic waste collection facilities. That's more than in any other state. Chart of the day During the parade of central bank meetings this week, Swiss interest rates returned to zero, and Norway's central bank surprised markets with a quarter point cut. Both decisions were currency-related and have been influenced by the swooning dollar and rising geopolitical tensions. The supercharged Swiss franc has drawn safe-haven demand and threatens Switzerland with deflation, as it flirts with 10-year highs against the green back. The Norwegian crown is highly linked to the oil price and hit its strongest level in two years this month as crude shot higher on Middle East worries. The major central banks all held the line, largely due to growing uncertainty over trade, oil prices and war. Today's events to watch * Philadelphia Federal Reserve's June business survey (8:30 a.m. EDT), May leading indicator (10:00 a.m. EDT); Canada May house prices, retail sales and producer prices (8:30 a.m. EDT) * European foreign ministers meet Iranian counterpart in Geneva * European Union finance ministers meet in Luxembourg, European Central Bank Vice President Luis de Guindos attends * U.S. corporate earnings: Accenture, Kroger, Carmax, Vertex Pharmaceuticals, Darden Restaurants Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. (By Mike Dolan; Editing by Anna Szymanski)
The Guardian
2 hours ago
- Politics
- The Guardian
European ministers to hold talks with Iran as US says it is still deciding whether to join war
Good morning. Foreign ministers from the UK, France and Germany will meet their Iranian counterpart in Geneva on Friday as they try to forge a path back to diplomacy amid its war with Israel. Their meeting with Abbas Araqchi comes a day after President Donald Trump said he would decide within two weeks whether to join the war on Israel's side. The White House said Trump would 'make a decision on whether to attack Iran within two weeks' and that communications with Tehran were ongoing. It also follows Israel openly calling for regime change in Iran, with its defense minister, Israel Katz, saying Iran's supreme leader, Ayatollah Ali Khamenei, 'can no longer be allowed to exist'. While attention has shifted to the Israel-Iran war over the last week, Israel's assault on Gaza continues. Al Jazeera reported that at least 23 Palestinians had been killed after Israeli forces shot aid seekers in central Gaza – a report that is impossible for the Guardian to independently verify as Israel bans foreign journalists from Gaza. Unicef said that just 40% of Gaza's drinking water facilities remain operational, warning: 'Children will begin to die of thirst.' What has Iran said about negotiations with the US? Araqchi has ruled out talks with the US as it is a 'partner to Israeli crime against Iran'. Follow our live coverage. The Los Angeles Dodgers said on Thursday they blocked US immigration enforcement agents from accessing their stadium's parking lot that day. The baseball team made the statement in a post on X – but Ice responded to say that its agents 'were never there'. Tricia McLaughlin, assistant secretary for public affairs at the DHS, said in a statement that 'this had nothing to do with the Dodgers. CBP vehicles were in the stadium parking lot very briefly, unrelated to any operation or enforcement.' A source told the Los Angeles Times that agents met near the stadium for a briefing but left when photos of their meeting began to spread online. Why might the LA Dodgers be targeted? Since Ice ramped up enforcement in Los Angeles, rumors have spread that authorities will focus on the stadium because of its large Latino fanbase. The office of the US defense secretary, Pete Hegseth, reportedly requested 'a passive approach to Juneteenth messaging' amid Donald Trump's attack on diversity, equity and inclusion (DEI) initiatives. The Rolling Stone exclusively reported that the Pentagon's chief of public affairs said that the office was not preparing to publish web content related to Juneteenth, the federal holiday commemorating when enslaved Black people in Galveston, Texas, learned they were free. What has Hegseth said about DEI? He told a Senate hearing this week: 'DEI is dead. We replaced it with a color-blind, gender-neutral, merit-based approach, and the force is responding incredibly.' How long has Juneteenth been a federal holiday? Joe Biden made it a federal holiday in 2021. Prosecutors have dismissed charges against a Los Angeles protester who was accused of assaulting border patrol agents, while the demonstrator said he himself was attacked by officers. Spanish prime minister Pedro Sánchez has rejected Nato's plan for member states to spend 5% of their GDP on defense. A judge on Thursday blocked the Trump administration from tying Democratic-led states' access to funding for transportation funding to their cooperation with immigration enforcement. Developing countries desperately need 'more debt relief' in order to provide education and health services, a report has found. The need is particularly acute in Africa, where some 57% of the continent's population – 751 million people, including nearly 288 million living in extreme poverty – live in countries that spend more on servicing external debt than on education or healthcare. A Ukrainian marine has spoken to the Guardian about his three years in Russian captivity, where he endured hunger, beatings and torture. Dmytro Chorny, who was released in a mass prisoner exchange in April, shares how he tried to cope while inside: 'The very first rule is to forget that you were once a citizen. Forget about your girlfriend, forget about your grandparents, completely separate yourself from your past. That is, you have never been there, you were born in captivity, you live in captivity … But, of course, you dream.' This week, a landmark deal creating the world's first visa in the context of the climate emergency came into force. The agreement, signed in 2023, allows 280 Tuvaluans to migrate to Australia each year and obtain permanent residency. And while it has offered hope to many young Tuvaluans, some fear it will create labor shortages in the country of just 11,000, as well as lead to a loss of cultural knowledge. As Jaws turns 50, Richard Dreyfuss, Lorraine Gary and Wendy Benchley look back on the highs and lows of making the iconic blockbuster. The movie was plagued by the mechanical shark, nicknamed 'Bruce', malfunctioning he remembers, with constant announcements on set that: ''The shark is not working. The shark is not working. Repeat. The shark is not working.' And then one day you hear this. 'The shark is working! The shark is working!'' In an admission that is a testament to the movie's power, Dreyfuss says he has never been back into the sea since … First Thing is delivered to thousands of inboxes every weekday. If you're not already signed up, subscribe now. If you have any questions or comments about any of our newsletters please email newsletters@
The Independent
2 hours ago
- Politics
- The Independent
David Lammy arrives in Geneva to meet Iran's foreign minister for peace push
David Lammy has arrived in Geneva for talks with the Iranian foreign minister and European allies as the UK presses for a diplomatic solution to the Israel-Iran conflict. The Foreign Secretary is meeting Abbas Araghchi on Friday alongside his counterparts from France, Germany and the EU as he seeks to negotiate a settlement before US President Donald Trump decides on whether to take military action against Tehran. In a statement read by his press secretary on Thursday, Mr Trump said there was still 'a substantial chance of negotiations' and said he would make a decision on deploying US forces 'within the next two weeks'. Mr Trump had previously said he 'may' join Israeli strikes against Iran and its nuclear programme, but added: 'I may not do it. I mean, nobody knows what I'm going to do.' Friday's meeting with the so-called E3 countries follows Mr Lammy's visit to Washington, where he met US secretary of state Marco Rubio in the White House on Thursday evening to discuss 'how a deal could avoid a deepening conflict'. The Foreign Secretary said: 'The situation in the Middle East remains perilous. We are determined that Iran must never have a nuclear weapon.' Adding that a 'window now exists within the next two weeks to achieve a diplomatic solution', Mr Lammy said: 'Now is the time to put a stop to the grave scenes in the Middle East and prevent a regional escalation that would benefit no-one.' Culture Secretary Lisa Nandy said on Friday morning the White House had provided a 'very clear timescale now' for the UK and its allies as they push for de-escalation in the Middle East. She also told Times Radio: 'There is this two-week window where the US is offering diplomatic talks. And my counterpart, David Lammy, is over in Geneva today with leading European figures meeting with the Iranian foreign minister. 'We appreciate the seriousness of the situation, but we are hopeful that we will be able to achieve de-escalation and a diplomatic solution. And all of our efforts continue towards that end.' Israeli air strikes reached into the city of Rasht on the Caspian Sea early on Friday, Iranian media reported. Since the conflict erupted last week, at least 657 people, including 263 civilians, have been killed in Iran and more than 2,000 wounded, according to a Washington-based Iranian human rights group. Meanwhile, at least 24 people in Israel have been killed and hundreds wounded. It remains unclear whether the UK would join any military action, although there has been speculation that US involvement could require using the British-controlled base on Diego Garcia in the Chagos Islands. The B-2 stealth bombers based there are capable of carrying specialised 'bunker buster' bombs which could be used against Iran's underground nuclear facility at Fordo. Attorney General Lord Hermer is reported to have raised legal concerns about any British involvement in the conflict beyond defending its allies, which could limit the extent of any support for the US if Mr Trump decides to act militarily. Meanwhile, two Labour backbenchers pushed for a 'fresh, tough approach' to Tehran. Jon Pearce and Mike Tapp, chairman and vice-chairman respectively of Labour Friends of Israel, said the UK urgently needed 'a multifaceted diplomatic, economic and national security plan to guard against the Iranian threat and force the regime to change course'. Writing in The Daily Telegraph, the pair called for tighter sanctions on Iran, the proscription of the country's Revolutionary Guard Corps and a 'comprehensive diplomatic solution' that 'eliminates once and for all' Iran's nuclear threat.
South China Morning Post
3 hours ago
- Politics
- South China Morning Post
Israel, Iran exchange fresh attacks in week-old air war amid new diplomatic push
Israel and Iran exchanged strikes a week into their air war on Friday as US President Donald Trump weighed US military involvement and new diplomatic efforts appeared to be under way. Advertisement Trump has been weighing whether to attack Iran by striking its well-defended Fordo uranium enrichment facility, which is buried under a mountain and widely considered to be out of reach of all but America's 'bunker-buster' bombs. He said he would decide within two weeks whether the US military will get directly involved in the war given the 'substantial chance' for renewed negotiations over Tehran's nuclear programme. Iran's Foreign Minister Abbas Araghchi appeared headed to Geneva for meetings with the European Union's top diplomat and counterparts from the United Kingdom, France and Germany. Iranian Foreign Minister Abbas Araghchi. File photo: AP A plane with his usual call sign took off from the Turkish city of Van, near the Iranian border, flight-tracking data from FlightRadar24 showed. Iran typically acknowledges his departure hours afterwards.
