renews

Trump slams NATO over Iran after meeting Rutte, renews Greenland threat | NATO News

US president meets NATO chief, expresses disappointment over member states failing to back war on Iran.

United States President Donald Trump has lashed out at NATO over its reluctance to join Washington’s war on Iran, and appeared to revive threats over Greenland, following a meeting with the alliance’s secretary-general.

Writing on his TruthSocial platform on Wednesday, Trump said in capitalised letters that “NATO wasn’t there when we needed them, and they won’t be there if we need them again”.

Recommended Stories

list of 4 itemsend of list

The remarks came after a two hour meeting with NATO’s Mark Rutte at the White House, a day after the US and Iran agreed to a ceasefire.

Ahead of the meeting, White House spokesperson Karoline Leavitt said that member states had “turned their backs on the American people”, who fund their nations’ defence. She said Trump would have a “very frank and candid conversation” with the NATO chief and quoted the US president as saying: “They were tested, and they failed.”

The rhetoric has raised seats in the West that Trump could move to withdraw the US from the transatlantic alliance, which he has repeatedly called a “paper tiger”. Several NATO members refused to open their airspace to US military aircraft or send naval forces to help reopen the Strait of Hormuz, a vital energy route that Iran has effectively closed.

Trump – following his meeting with Rutte – also appeared to revive his threat to seize Greenland from NATO member Denmark – a move had roiled the alliance before he launched his war on Iran

“Remember Greenland, that big, poorly run, piece of ice!!!”, he wrote.

Rutte, known in Europe as the “Trump whisperer” for his skill in maintaining a productive relationship with the US president, told the CNN broadcaster that Trump was “clearly disappointed with many NATO allies”.

Rutte said he had “very frank” and “very open” discussions with Trump during the meeting, and that while he understood the US president’s frustrations, he had pushed back against some of the broader criticism.

“I was also able to point to the fact that the large majority of European nations have been helpful, with basing, with logistics, with overflights, with making sure that they live up to the commitments,” Rutte said.

“What the US did with Iran, they could do because so many European countries lived up to those commitments. Not all of them, and I totally understand his disappointment about that, but it is, therefore, a nuanced picture,” he added.

Rutte also rejected the notion that NATO members considered the war on Iran “illegal”, arguing that there was widespread support in Europe for degrading Iran’s nuclear and ballistic missile capabilities. He also said that prolonged diplomacy risked a “North Korean moment” – where talks drag on until a country acquires nuclear capacity and it becomes too late to act.

The NATO chief declined to answer directly when asked multiple times if Trump had said he would leave the alliance.

NATO, which includes European countries, the US and Canada, was formed in 1949 to counter the Soviet Union and has been the cornerstone of the West’s security ever since.

The alliance has only activated its mutual defence clause on one occasion, following the September 2001 attacks on the World Trade Center in the US.

It was not clear what role Trump had expected it to play in the ⁠Middle East.

The Wall Street Journal, meanwhile, reported that Trump was looking at punishing some NATO members he believed were unhelpful during the conflict by moving US troops out of their countries.

The plan, reported by the Wall Street Journal, would fall short of Trump’s hinted threats to pull the US out of NATO entirely – a move for which he would need the approval of the US Congress.

Rutte did not answer directly when asked about that report.

“The large majority, including France, of European nations, has been doing what they committed before they will do in a case like this,” he said instead.

“So Europe, as a platform of power projection for the United States, was in full play over the last six weeks.”

Source link

Stocks jump and oil drops as Trump renews hopes of Iran war ending

Published on

Renewed optimism over a possible de-escalation in the Iran war, now in its fifth week, gave a strong boost to stock markets in Europe and Asia on Wednesday.


ADVERTISEMENT


ADVERTISEMENT

At the time of writing, the Euro Stoxx 50 is up over 1%, while the broader pan-European Stoxx 600 is around 2.5% higher.

In London, the FTSE 100 has risen roughly 0.8% with Germany’s DAX 30 and France’s CAC 40 making equal moves to the upside. Italy’s FTSE MIB has jumped the most and is 1.7% higher.

During a press gaggle at the White House on Tuesday, US President Donald Trump stated that the country would “probably” stop attacks on Iran within two to three weeks “‘whether we have a deal or not”.

Following Trump’s comments, the front month future contracts for oil also saw a sharp decline, with Brent crude and WTI both trading around 4% lower and below $100 a barrel.

Trump also stressed that the US would “not have anything to do with” what happens next in the Strait of Hormuz.

Despite the relief, markets are eagerly anticipating Trump’s address to the nation about the conflict, which will occur overnight on Wednesday, according to the White House Press Secretary.

Asian markets, US futures and precious metals

Asian shares also rose sharply on Wednesday after Trump’s statement.

At the time of writing, South Korea’s Kospi has recovered losses from earlier this week, surging over 8%, while Tokyo’s Nikkei 225 rose more than 2%.

A survey by Japan’s central bank released on Wednesday showed that business sentiment among major manufacturers had improved despite concerns over the Iran war.

Hong Kong’s Hang Seng index is also over 2% higher, while the Shanghai Composite has jumped around 1.5%. Additionally, India’s Sensex rose roughly 2%, Australia’s ASX 200 is up 1% and Taiwan’s Taiex climbed more than 4%.

“De-escalation hopes have given markets a lift, but we think the effects of the war would, in many cases, persist even if it were to end soon,” said Thomas Mathews, head of markets for Asia Pacific at Capital Economics, in a research note on Wednesday.

US futures are also all trading between 0.7% and 1.2% higher.

The move comes after US stocks recorded their strongest day in almost a year on Tuesday, when the S&P 500 rose 2.9%, its largest gain since May.

The Dow Jones Industrial Average climbed 2.5%, while the Nasdaq jumped 3.8%.

“It’s worth considering how markets might respond if the war were to end very soon. Do markets have further to recover if sentiment continues to improve? The answer is almost certainly yes,” Mathews added.

In other trading, gold rose is up 1.4% trading at around $4,730 while silver is down roughly 1% to $74.3 an ounce.

Source link