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Elon Musk’s rocket company SpaceX is targeting a valuation of nearly $1.77 trillion in its blockbuster initial public offering (IPO), paving the way for the largest stock market debut in history.

In a filing with the US Securities and Exchange Commission on Wednesday, SpaceX said that it plans to sell 555.6 million shares at $135 apiece, raising approximately $75bn.

The eye-popping valuation would make SpaceX the world’s seventh-largest company by market capitalisation, ahead of Musk’s electric vehicle maker Tesla and social media giant Meta, and just behind Taiwanese chipmaker TSMC.

It would also eclipse energy giant Saudi Aramco’s 2019 debut, which raised $26bn at a valuation of $1.7 trillion.

Musk, who holds a roughly 42 percent stake in SpaceX, is poised to become the world’s first trillionaire upon the company’s debut on the New York-based Nasdaq stock exchange on June 12.

Despite the public listing, Musk will retain effective control of SpaceX with more than 82 percent of voting rights, the result of a dual-class stock structure that grants certain shares 10 votes instead of one.

The Texas-based firm’s decision to set a specific share price ahead of its IPO marks a break from usual practice.

Companies preparing for a public listing usually announce a preliminary price range that can be adjusted based on investor interest.

“The genuine surprise is that SpaceX fixed a price before the investor roadshow began,” Fabien Yip, a market analyst at online trading and investment company IG Group, told Al Jazeera.

“To me, this reflects Musk’s control over the deal terms and his confidence that the book will fill.”

Founded by Musk in 2002, SpaceX is best known for designing and launching rockets, spacecraft and reusable launch vehicles on behalf of NASA and private companies.

The company also provides internet services and artificial intelligence models through its Starlink and xAI divisions.

Musk has outlined lofty ambitions for SpaceX, including to establish a “self-sustaining” city on Mars, “make life multiplanetary,” and “extend the light of consciousness to the stars”.

SpaceX’s listing will be a test of investors’ confidence in Musk’s vision, which has yet to translate into profits at the company.

SpaceX reported a net loss of $4.9bn on revenue of 18.7bn in 2025, followed by a $4.3bn loss in the first quarter of this year.

Jay R Ritter, an emeritus professor at the University of Florida who specialises in IPOs, said the SpaceX IPO differs from Saudi Aramco’s blockbuster listing as the state-owned oil company had a track record of generating large revenues and profits.

“SpaceX, in contrast, has trailing annual revenue of less than $20bn, and is not profitable,” Ritter told Al Jazeera.

“So, one company’s valuation was – and is – based on its demonstrated profitability, while the other company’s valuation is based on potential.”

“With SpaceX, there is a risk that cash flows will be used to send hundreds of thousands of people to Mars, at a loss,” Ritter added.

Despite SpaceX’s lack of profitability, market sentiment is strong, said IG’s Yip, noting that buyers of investment products linked to the listing are pricing the company’s end-of-first-day market capitalisation at $2.2 trillion.

“The Tesla parallel is perhaps worth drawing: It debuted in 2010 as a loss-making company and largely tracked the S&P 500 for years, only breaking away decisively once it turned profitable for the first time in Q1 2013,” Yip said, referring to the benchmark stock index on Wall Street.

“SpaceX investors are making a similar bet on future growth, with the added complexity that SpaceX’s addressable market – rockets, satellite internet, AI – is considerably broader than Tesla’s was at listing.”

Liverpool fan Josh Sexton can be found on outlets including The Anfield Wrap, external

It comes to something when your long-time nemesis says it is time to move on and you actually feel a little bit sad about it.

It feels like a chapter of English football is truly closing.

I actually grew to quite like Guardiola – a feeling made easier by Liverpool refusing to be any competition to his team this season.

Between his compassionate politics and his increasingly funny news conferences, the man who became the bane of our existence has started to cut a much more likeable figure.

The respect element was always there.

Yes, there are caveats to City’s success, but there are very few doubts about Guardiola’s greatness as a manager.

After Jurgen Klopp left Anfield in 2024, it seemed only natural that the man he went toe to toe with for so many years would move on fairly soon after.

The truth is, the standards those two managers set would warp our perception of what a normal title-winning points total looks like.

Arsenal have pipped Guardiola to the Premier League this season, but they have done so with a maximum of 85 points – a climbdown from the days of Liverpool and City pushing each other to 90-plus totals.

Liverpool have fallen away this season, but Guardiola moving on means the barrier to entry for a title race is likely to not be as high.

Therefore, Liverpool supporters should be reassured that a return to the top is not too far away, especially with such a talented group of players.

We might not see those 2018-2022 levels again for a little while, though, and for that we will always – at least partly – have Guardiola to thank.

It seemed fitting that Arsenal have one hand on the Premier League trophy thanks to a 1-0 win – of their past four league matches, all victories, three have ended with that score – with the Gunners conceding just once in their past six.

They have conceded the fewest goals in the league (26), while the last time they conceded in open play came in their defeat by Manchester City on 19 April, which was seven games ago.

The clean sheet against Burnley was Arsenal‘s 32nd in all competitions this season.

“I thought that the amount of hair that I have is never going to go away but in this job it is going to test it to the limit,” said Arteta.

“The desire that every single player shows in their defensive duties, their behaviours and the way that they work for each other is phenomenal.

“It’s a lot of work put in by all the coaches as well. And we all know the importance of that and how many results and wins we have because of that.”

It was their 13th 1-0 win of the season. Their playing style, their threat from and reliance on set-pieces, and the relative lack of bigger wins has brought criticism and anxious finishes in equal measure.

Manchester City will have a better goal difference if they win their final two matches, which does mean Arsenal will have to beat Crystal Palace. A draw, in that scenario, would not be enough.

“In a funny way, Man City might actually have taken that,” ex-Liverpool defender Jamie Carragher said on Sky Sports. “Seeing how they played that second half, I think the nerves will really kick in if Man City beat Bournemouth. Crystal Palace are a better team than Burnley even with a few players out.

“Arsenal are going to do it in the fashion of George Graham rather than Arsene Wenger – ‘1-0 to the Arsenal‘ probably sums them up.”

Former Manchester United defender Gary Neville added: “Arsenal are right on the brink but by goodness they don’t half make it difficult for themselves.

“You have to admire their ability to concentrate and focus and keep to the defensive shape and principles. They keep clean sheets and that’s a rare commodity in the modern game, for a team to see out 1-0 victories like this team can.

“I think it’s going to be enough to see them home.”

PM Keir Starmer says the phrase ‘globalise the Intifada’ should be ‘completely off limits’.

British Prime Minister Keir Starmer says some pro-Palestine marches could be banned and people who use the phrase “globalise the Intifada” could be prosecuted.

In an interview broadcast by the BBC on Saturday, Starmer advocated for tighter language restrictions at pro-Palestine marches, adding that in some cases, rallies could be prohibited altogether.

“I’m a big defender of freedom of expression, peaceful protests,” he told the BBC. “But when there are chants like ‘globalise the Intifada’, that’s completely off limits.”

“Clearly, there should be tougher action in relation to that,” he added.

Discussions had been taking place with the police for some time about what further action could be taken, he added. Asked whether he sought to completely bar some rallies, Starmer said he thought that would be appropriate in some cases.

‘Likely to be arrested’

Starmer’s comments come after he earlier this week called the chant “globalise the Intifada” a case of “extreme racism” and said those who use it “should be prosecuted”.

Metropolitan Police Commissioner Sir Mark Rowley also told the BBC that people who use the phrase are “likely to be arrested”.

Supporters of the slogan say it reflects a call to expand the pro-Palestine movement into a global campaign.

Starmer has come under pressure after a spate of anti-Semitic incidents, including this week, when two men were stabbed in the north London suburb of Golders Green, which is home to a large Jewish community.

A 45-year-old British national who was born in Somalia was remanded in custody when he made his first appearance in court on Friday, accused of attempted murder.

Starmer visited the scene of the attacks and a Jewish volunteer ambulance service on Thursday and was booed by some locals, who accused him of not doing enough to protect them. They also denounced pro-Palestinian activists holding marches in British cities.

On Thursday, the UK increased its security alert level to “severe” – the second highest – in part because of the attack in Golders Green.

British authorities have repeatedly faced criticism for cracking down on pro-Palestine activism during Israel’s genocidal war on Gaza.

Last month, British police arrested more than 500 people during a mass vigil in central London to oppose the ban on campaign group Palestine Action.

“I think Britain has now descended into a non-democratic situation and I think that is very dangerous [for] free speech,” one demonstrator taking part in the vigil told Al Jazeera.

April 29 (Asia Today) — Instability in South Korea’s fertilizer supply is growing in the aftermath of the war involving Iran, as the prolonged closure of the Strait of Hormuz disrupts routes for importing raw materials used in fertilizer production.

The Korea Pork Producers Association said Wednesday the price of urea, the largest component among chemical fertilizers, has surpassed $700 per ton, the highest level since October 2022.

“South Korea has a structural limitation because it depends heavily on imports for fertilizer raw materials,” an association official said. “Rising chemical fertilizer prices and supply instability caused by uncertainty in international affairs are directly increasing the burden on crop farmers.”

Amid the pressure, compost and liquid fertilizer made from livestock manure are emerging as alternatives.

The association said resource recycling of livestock manure into compost and liquid fertilizer could gradually reduce dependence on chemical fertilizers while helping stabilize food security.

According to an association survey, the potential fertilizer value of livestock manure is high enough to meet 46% of the nitrogen needs and 100% of the phosphate needs of farmland.

The Ministry of Agriculture, Food and Rural Affairs has pursued measures to improve the quality of compost and liquid fertilizer and change perceptions among crop farmers since the Cabinet decided in 2006 to ban ocean dumping of livestock manure. A key measure was the July 2006 plan to promote natural circulation agriculture using livestock manure compost and liquid fertilizer.

A decade after the plan was implemented, production facilities and technology for livestock manure recycling have improved significantly. Liquid fertilizer made from livestock manure is now being used as a substitute for chemical fertilizer at greenhouse farms.

Compost quality has also steadily improved, leading to a sharp increase in exports to Southeast Asian countries.

Livestock manure compost and liquid fertilizer have shown strong effects in reducing fertilizer costs and greenhouse gas emissions. In an experiment by Sangji University, the use of filtered liquid fertilizer instead of chemical fertilizer at a greenhouse farm reduced fertilizer costs by 600,000 won ($406) per hectare and cut greenhouse gas emissions by 382.6 kilograms of carbon dioxide.

Most greenhouse farms using the fertilizer also showed major improvements in soil electrical conductivity, indicating the role of livestock manure compost and liquid fertilizer in soil improvement.

The alternatives also contributed to higher crop output and income. A spinach greenhouse farm using liquid fertilizer produced by the Pocheon Livestock Cooperative’s natural circulation agriculture team saw early harvest output rise 53%, while income per 10 ares reached 7.56 million won ($5,118), up 247% from an average year.

Despite those benefits, livestock manure compost and liquid fertilizer remain less convenient than chemical fertilizer in terms of labor and usability. Experts say policies are needed to develop products that crop farmers can use more easily.

“To promote the recycling and use of livestock manure, we will prepare and pursue policies to remove institutional and structural barriers, including restrictions on spreading and the burden of transport costs,” said Park Jung-hoon, head of the ministry’s food policy office.

Livestock farmers also plan to work with crop farmers to help establish a circular farming system linking livestock and crop production.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260429010009418

President Alexandr Lukashenko is hoping to improve relations with the West once more.

Belarus has released Polish-Belarusian journalist Andrzej Poczobut from jail as part of a prisoner exchange.

Poland’s Prime Minister Donald Tusk confirmed the release on Tuesday, noting that Warsaw had been helped in a joint diplomatic push on Minsk by the United States, Romania and Moldova.

The prisoner swap with Poland saw 10 prisoners released overall, with signs that Belarusian President Alexandr Lukashenko is hoping to improve relations with the West once more. Ties have deteriorated due to his support for Russia’s invasion of Ukraine.

Poczobut was detained by Belarusian authorities in 2021 and later sentenced to eight years in a labour camp after a trial widely criticised by rights groups and Western governments as politically motivated.

Concerns had grown in recent years about his health while in detention.

“Andrzej Poczobut is free! Welcome to your Polish home, my friend,” Tusk posted on social media.

Belarus also ⁠released Polish priest ⁠Grzegorz Gawel and a Belarusian who helped Polish ‌services, whose name was not to be revealed, ⁠the Polish leader added.

‌Russians and Moldovans were also among the prisoners swapped in a “five ⁠for ⁠five” exchange.

Joint-effort

Tusk also noted that the release followed lengthy diplomatic efforts.

“The exchange at the Polish-Belarusian border is the finale of a two-year-long intricate diplomatic game, full of dramatic twists,” he said.

“It succeeded thanks to the outstanding work of our services, diplomats and prosecutors, as well as the tremendous help from our American, Romanian and Moldovan friends.”

The announcement came hours after Polish Foreign Minister Radoslaw Sikorski published a photograph of a meeting with US Special Envoy to Belarus John Coale, saying the pair had discussed “important issues”.

Coale later said that the US had helped to secure the release of three Polish nationals and two Moldovans.

“We thank Poland, Moldova, and Romania for their invaluable support in this effort, as well as President Lukashenko’s willingness to pursue constructive engagement with the United States,” he said.

“Under President Trump, America shows up for its allies and delivers diplomatic victories no one else can,” he claimed.

Poczobut, who had worked as a correspondent for the Polish newspaper Gazeta Wyborcza, has been arrested numerous times in Belarus over the past decade.

In 2011, he was fined and jailed for 15 days for his participation in protests following Belarus’s 2010 presidential election. He was later detained again in 2011 and 2012 on accusations of insulting Lukashenko.

His cases drew international condemnation, with the European Parliament, Reporters Without Borders and Amnesty International among organisations calling for his release.

Earlier this year, the European Parliament awarded Poczobut and Georgian journalist Mzia Amaglobeli the Sakharov Prize.

The U.S. Army is considering configuring at least a portion of its new MV-75A Cheyenne II tiltrotors to be able to refuel in flight using the probe-and-drogue method. This, in turn, has raised the question of how the service will ensure there is adequate tanker capacity to support that capability. Army officials and the MV-75A’s prime contractor, Bell, have both now pointed to a future where tanker drones like the U.S. Navy’s forthcoming MQ-25 Stingray could help extend the Cheyenne II’s reach.

Army Maj. Gen. Clair Gill discussed aerial refueling capability for the MV-75A, as well as other aspects of the Cheyenne II, during a talk yesterday at the Army Aviation Association of America’s (AAAA) 2026 Warfighting Summit, at which TWZ is in attendance. Gill is currently the service’s Program Acquisition Executive for Maneuver Air. The Army plans to replace a substantial portion of its H-60 Black Hawk helicopters with the MV-75A in the coming years.

“Our last chief used to talk to me all the time about aerial refueling. We think that’s something. Maybe we don’t get all of them [the MV-75As] configured for that, but they’ll have the capability,” the Army’s top aviation acquisition officer added. “For industry, I want you to think about how are we going to refuel ourselves, right? One of the challenges, even the Regiment will tell you, and make it top priority – their challenge isn’t you know how good they are on par, their challenge is getting somebody to give them the gas.”

The “Regiment” that Gill refers to here is the Army’s elite 160th Special Operations Aviation Regiment (SOAR), also commonly known as the Night Stalkers. The 160th is expecting to eventually receive a special operations-specific configuration of the MV-75, which will include in-flight refueling capability by default, as you can read more about here. Existing Night Stalker MH-60M Black Hawk and MH-47G Chinook special operations helicopters also have the ability to refuel in flight via probe-and-drogue. However, Army Black Hawks and Chinooks assigned to conventional units do not have this capability.

“The Navy’s got some pretty good unmanned ideas there if you want to kind of follow where we’re going,” Gill noted yesterday.

Gill did not specifically name Boeing’s MQ-25, but this is the only uncrewed tanker the Navy is currently pursuing, at least that we know about. Furthermore, Bell released a new computer-generated MV-75 promotional video yesterday around the AAAA conference, seen below, wherein a Cheyenne II is clearly depicted linking up with a Stingray, or an extremely similar-looking variant or derivative thereof.

Meet the Cheyenne II

The MQ-25 is in development now primarily as a carrier-based platform, but there is no reason why it could not also operate from bases on land. Boeing has itself previously presented a concept for an enlarged, land-based derivative of the design that could help meet future U.S. Air Force tanking needs.

The MQ-25 by itself promised to offer very long endurance and extreme range, which could make it attractive in the land-based role, as well as when operating from carriers. TWZ has previously explored how those capabilities open the door to the Stingray being utilized as much more than a tanker, as well.

Currently, the U.S. Air Force provides probe-and-drogue aerial refueling capacity using KC-135 and KC-46 tankers, as well as HC-130J Combat King II combat search and rescue aircraft and MC-130J Commando II special operations tanker/transports. The U.S. Marine Corps and Navy also have C-130 variants that can be employed as tankers, as well as transports. Navy carrier air wings currently rely on F/A-18F Super Hornet fighters carrying buddy refueling stores and drop tanks to provide organic aerial refueling support.

Shortfalls in aerial refueling capacity, even to meet peacetime demands, have been an increasingly concerning issue for years now. The Air Force just recently developed a system that allows A-10 Warthog attack jets to refuel via probe-and-drogue to create new operational flexibility for those aircraft, as you can read more about here. The A-10 was originally designed to refuel in flight using the boom method, which the Air Force prefers for fixed-wing aircraft.

On top of all this, the Army has no organic tanker capacity at present, at all. Furthermore, the formal division of roles and missions with the Air Force means that the service does not operate fleets of larger fixed-wing aircraft like the C-130 that could be readily adapted to this role. All of this would point to an uncrewed platform like MQ-25 as the most viable path to establishing an Army tanker force, which could also align better with its expeditionary air assault concepts of operations.

Army MV-75As could still make use of other tankers during joint operations, as well. There could be other organic air refueling options available to the service, too, including the possibility of adapting MV-75 itself to act as a buddy tanker.

The Army is separately advancing plans to acquire fleets of uncrewed aircraft capable of performing a variety of missions in close collaboration with the MV-75A and its existing fleets of crewed helicopters.

For the Army, demands for greater range and ability that cover those distances faster were key factors in the decision to acquire the MV-75A in the first place. The service sees these capabilities as particularly critical in the context of any future fight against China across the sprawling expanses of the Pacific.

“MV-75, as I mentioned, that’s our signature system,” Gen. Gill said yesterday. “Unmatched range, unmatched speed, unmatched mission flexibility.”

During a separate talk at the AAAA conference yesterday, Army Maj. Gen. David Gardner, head of the 101st Airborne Division, the service’s premier air assault formation, also highlighted a recent training exercise that included Marine Corps MV-22 Osprey tiltrotors. He said that was done specifically “to help our Division understand the operational reach that it will possess with the MV-75 Cheyenne.”

Units within the 101st are set to be the first to receive operational MV-75As, with or without aerial refueling capability. The Army had previously said that fielding would begin next year as part of a major acceleration of the program. However, it has now stepped back from any fixed timeline for the first flight of the Cheyenne, let alone when Bell will begin delivering production examples.

“It’s going to happen when it’s going to happen. So we are moving as fast as we can,” Gen. Gill told TWZ and other outlets ahead of the AAAA conference this week. “If I was king, and I had all the money in the world and all the engineers, and there were no limits, we probably would be able to do it in a matter of months.”

As an aside, integrating aerial refueling capability onto the MV-75A, and working to pair it with tanker drones like MQ-25, could make the Cheyenne II, or variants thereof, attractive to other potential operators. The Marine Corps is now early in the process of refining requirements for a successor to the MV-22. The Navy has also said it is leveraging work the Army has done on the MV-75A to inform its plans for a Future Vertical Lift-Maritime Strike (FVL-MS) family of systems to succeed its MH-60R and MH-60S Seahawks, as well as the MQ-8C Fire Scout drone helicopter. Bell has presented concepts for variations of its V-280 Valor tiltrotor, on which the MV-75A is based, optimized for supporting amphibious assault and other naval missions in the past.

As it stands now, the Army does not appear to have made a final decision on the extent to which it expects to integrate in-flight refueling capability in its future MV-75A fleet. That will have a direct impact on any pursuit of an organic tanker capability.

Still, the Army and Bell are already pointing to the MQ-25 as an example of what could be on the horizon to help further extend the reach of the Cheyenne II.

UPDATE: 5:08 PM EDT –

Maj. Gen. Clair Gill has now offered some additional comments on aerial refueling support for the MV-75A to TWZ and other outlets at a roundtable today on the sidelines of the AAAA conference.

“We’re also thinking creatively about if we put aerial refueling – which you’re gonna see on the SOCOM [U.S. Special Operations Command] variants – if we put that on a conventional variant, then how do we refuel it?” he explained. “So we’re thinking through, do we need to develop a requirement for aerial refueling for ourselves now that we have really enhanced our capability?”

“One of the things that our special operations aviators – one of their most challenging tasks is helicopter aerial refueling. A lot of times people say, you’re telling me the challenge is the training of that, because it’s a pretty hard task,” he added later on in response to a direct follow-up question on this topic from our Jamie Hunter, who also called attention to what was seen in Bell’s video. “And I would say yes, but it’s actually the asset, the availability [of the] asset, to do the training. And we don’t have those organic to the Army. So I think we need to solve our own problems, and think about how do we do our own, let’s call it logistical resupply in the air, of an MV-75. So that’s where that concept photo or video was pointing.”

“We don’t have a requirement written right now, but I’ve talked with Army leaders,” Gill also noted.

Contact the author: joe@twz.com

Modern warfare has dramatically changed as we have seen from the Russia-Ukraine war, conflicts involving Gaza, India and Pakistan, and the recent US-Israeli strikes on Iran. At the centre of this shift is a surging global reliance on drone and missile technology as well as advanced air defence systems.

Turkiye, one of the largest military powers in the Middle East, is increasingly positioning itself as a major supplier in the global defence sector. Central to this effort is Roketsan, a company founded in 1988 to supply the Turkish Armed Forces, which has since evolved into the country’s primary manufacturer of missile and rocket systems.

Currently exporting to approximately 50 countries, the firm is one of the fastest-growing defence companies globally.

So how did Roketsan secure a large share of the global arms trade?

Bypassing Western embargoes

Turkiye’s defence expansion was largely accelerated by restrictions placed upon it. Western embargoes aimed at halting its military advancement meant Ankara could not acquire the necessary technical systems or components.

In 2020, the United States imposed Countering America’s Adversaries Through Sanctions Act (CAATSA) restrictions on Turkiye – a key member of the transatlantic military alliance NATO. These sanctions targeted Turkiye’s military procurement agency, its chief Ismail Demir, and three other senior officials. Washington also ejected Ankara from the F-35 stealth jet programme in July 2019.

The measures came after Ankara purchased Russia’s S-400 missile defence system, which was seen as a potential threat to NATO security. The European Union also prepared limited sanctions and discussed restricting arms exports following energy exploration disputes in the Eastern Mediterranean.

To circumvent this, the country built an integrated, domestic defence ecosystem. Today, Turkiye relies on a vast supply chain of nearly 4,000 small and medium-sized enterprises (SMEs) scattered across the country. As a result, the Turkish defence industry now operates with a local production rate exceeding 90 percent.

This shift has yielded significant financial returns for Ankara. In 2025, Turkiye’s defence industry reported $10bn in exports. Roketsan’s General Manager Murat Ikinci told Al Jazeera that the company currently ranks 71st among global defence firms, with ambitions to break into the top 50, then the top 20, and ultimately the top 10.

To support this expansion, Turkish President Recep Tayyip Erdogan inaugurated several large-scale facilities last week, including:

• Europe’s largest warhead facility.
• new research and development (R&D) centre housing 1,000 engineers.
• the “Kirikkale” facility dedicated to rocket fuel technology.
• new infrastructure for the mass production of ballistic and cruise missiles.

These projects represent a $1bn investment, with the company planning to inject an additional $2bn to expand mass production capabilities.

The ‘Tayfun’ and modern warfare

Roketsan’s R&D strategy – which employs 3,200 engineers and makes the company the third-largest R&D institution in Turkiye – is heavily influenced by data gathered from ongoing global conflicts.

According to Ikinci, the war in Ukraine highlighted the impact of cheap, first-person view (FPV) and kamikaze drones supported by artificial intelligence. In response, Roketsan developed air defence systems like “ALKA” and “BURC,” alongside the “CIRIT” laser-guided missile.

The regional landscape was further complicated during the US-Israel war on Iran, as cheap Iranian-designed Shahed drones – recently upgraded by Russia with “Kometa-B” anti-jamming modules – overwhelmed defences and even struck a British base in Cyprus in March 2026. During the same month, NATO air defences were forced to intercept three Iranian ballistic missiles that entered Turkish airspace.

Meanwhile, the recent conflict between Israel and Iran showcased the use of complex attacks combining ballistic missiles with “swarms” of kamikaze drones designed to overwhelm air defences. This environment makes hypersonic technology a critical asset.

This brings the Tayfun (Typhoon) project into focus. Tayfun is a developing family of long-range ballistic missiles. Its most advanced iteration, the Tayfun Block 4, is a hypersonic missile engineered to penetrate advanced air defence systems by travelling at extreme speeds.

When Al Jazeera asked for specific details regarding the Tayfun’s exact operational range, Ikinci was elusive. “We avoid mentioning its range; we just say its range is sufficient,” he noted.

Similarly, historical Western sanctions have pushed Turkiye to form new cooperation initiatives, effectively accelerating an “Eastern shift” away from Western defence dependence. Turkish drones are now being used by a growing number of countries, including by Pakistan during its war against India last May.

Based on these threat assessments, Roketsan has prioritised five key areas of production:

1. long-range ballistic and cruise missiles.
2. air defence systems, including the “Steel Dome”, Hisar-A, Hisar-O, and Siper.
3. submarine-launched cruise missiles, utilising the AKYA system to leverage Turkiye’s large submarine fleet.
4. smart micro-munitions designed specifically for armed drones.
5. long-range air-to-air missiles, a need highlighted by the brief India-Pakistan skirmish.

A strategic export model

Unlike traditional arms procurement, Turkiye is marketing its defence industry to international buyers as a strategic partnership.

“Our offer to our partners… is as follows: Let’s produce together, let’s develop technology together,” Ikinci stated.

By establishing joint facilities and R&D centres in allied nations across the Middle East, the Far East, and Europe, Turkiye is attempting to secure long-term geopolitical alliances rather than purely transactional sales. Ikinci highlighted Qatar as a prime example of this model, describing it as a benchmark for technological, military, and security cooperation in the region.

Filling the global stockpile gap

This rapid expansion comes at a critical time for the global arms trade. Ongoing wars have severely depleted the stockpiles of advanced weapon systems worldwide.

During the recent US-Israel war on Iran, Washington relied heavily on multimillion-dollar Patriot and Terminal High Altitude Area Defense (THAAD) systems to intercept cheap Iranian drones targeting US assets across Qatar, Kuwait, Bahrain, Saudi Arabia, and the United Arab Emirates. With growing concerns that US interceptor supplies could run low, Gulf states – which have collectively detected over 1,000 drones in their airspace – are actively seeking alternative defence technologies, creating a highly lucrative opening for Turkiye’s missile industry.

Defence analyses indicate that even military superpowers like the US will require significant time to replenish their current air defence inventories due to the complexity and massive infrastructure required to build them.

Turkish defence officials view this shortage as a strategic opening. Having localised its supply chain, Turkiye claims it can manufacture and export these highly sought-after complex systems independently.

As global demand for air defence and ballistic technologies rises, Roketsan is aggressively reinvesting its revenues into production infrastructure to expand its footprint in the international arms market.

Caracas, April 15, 2026 (venezuelanalysis.com) – The US Treasury Department’s Office of Foreign Assets Control (OFAC) issued two new general licenses on Tuesday facilitating transactions with Venezuelan state institutions.

 for Venezuela on Tuesday: a commercial license (No. 56) and a financial license (No. 57), signaling a partial easing of restrictions while maintaining key controls.

General License 56 (GL56) authorizes US entities to negotiate and sign “contingent contracts” for future commercial operations in Venezuela. This allows firms to move forward with agreements, investments, or projects, though their final execution remains subject to separate OFAC approval.

The waiver maintains important restrictions, including a ban on payments in gold or cryptocurrencies, as well as prohibitions on transactions involving China, Russia, Iran, North Korea, and Cuba. It likewise forbids transactions involving Venezuelan debt and does not unblock currently frozen Venezuelan assets.

For its part, General License 57 (GL57) permits a broad range of financial operations with the Venezuelan Central Bank (BCV), as well as Venezuela’s public banks: Banco de Venezuela, Banco Digital de los Trabajadores, Banco del Tesoro, and entities in which these institutions hold a 50 percent or greater stake.

The allowed transactions include opening and managing accounts, conducting US dollar transfers, issuing loans, and providing banking services. The BCV was sanctioned in April 2019, effectively isolating Venezuela from international financial circuits and increasing costs for basic transactions.

The latest sanctions waivers are expected to facilitate financial flows to the Venezuelan economy, including the transfer of Venezuelan oil revenues that are currently controlled by the Trump administration. US authorities have returned a confirmed US $500 million out of an initial deal estimated at $2 billion, while US and Venezuelan officials have confirmed the purchase of US-manufactured medicines and hospital equipment using Venezuelan funds.

Analyst Hermes Pérez warned that reincorporation into the SWIFT system and establishment of US-based accounts could take several months due to security and technological requirements. Other economists argued that GL57 could allow the Central Bank to stabilize the Venezuelan foreign exchange system.

For several years, a parallel exchange rate between the US dollar and the Venezuelan bolívar has coexisted with the official one set by the Central Bank, often with a gap above 50 percent that fueled distortions in retail activities and currency speculation.

Since the January 3 military strikes and kidnapping of Venezuelan President Nicolás Maduro, the Trump administration has issued several licenses to expand US influence in the Caribbean nation, particularly in key economic sectors such as hydrocarbons and mining.

In parallel, Venezuelan authorities have promoted several pro-business reforms, while multiple Trump officials and corporate executives have come the South American country and held meetings with the acting government led by Delcy Rodríguez.

The latest waivers coincided with the visit to Caracas of a US Department of Energy delegation led by Assistant Secretary Kyle Haustveit. Rodríguez hosted the official on Wednesday in a work meeting at the presidential palace.

During a short, televised intervention, Rodríguez argued that OFAC licenses do not provide sufficient “legal certainty” and reiterated calls for Trump to lift unilateral coercive measures against the country.

“An investor requires greater legal certainty. A license does not provide long-term legal guarantees because it is subject to temporality,” she argued. Rodríguez claimed Washington and Caracas have “enough maturity” to establish “long-term” energy cooperation ties.

“We are working very hard on changes that can attract investment, and which can build an energy cooperation agenda with the United States,” she said.

Rodríguez additionally disclosed recent meetings with representatives from ExxonMobil and ConocoPhillips, stating that authorities have “taken into account recommendations” from oil majors in recent legislative overhauls. Both ExxonMobil and ConocoPhillips refused to accept hydrocarbon reforms under former President Hugo Chávez in the 2000s, later securing multi-billion-dollar arbitration awards against the Caracas as compensation for the nationalization of their assets.

Haustveit and the Energy Department delegation were also present on Monday during the signing of agreements with Chevron that granted the Texas-based conglomerate an increased stake in the Petroindependencia joint venture and awarded an additional extra-heavy crude bloc for exploration to the Petropiar mixed company. Chevron owns minority stakes in both joint enterprises with Venezuelan state oil company PDVSA.

Shell, Eni and Repsol are among the other energy giants to have recently advanced in deals with the Venezuelan government under the improved conditions of the new Hydrocarbon Law.

US Chargé d’Affaires in Venezuela Laura Dogu was also present at the Chevron deal-signing ceremony and the meeting with Haustveit’s delegation. However, the White House announced Wednesday that her post will be taken over by veteran diplomat John Barrett.

Barrett, who previously served as chargé d’affaires at the US Embassy in Guatemala since January 21, 2026, was recently accused by Guatemalan President Bernardo Arévalo of interference during judicial elections for the Constitutional Court held in March.

Edited by Ricardo Vaz in Caracas.