Stocks eye fresh highs as U.S.-Iran talks resume, oil rises on Hormuz tensions
Stocks eye fresh highs as U.S.-Iran talks resume, oil rises on Hormuz tensions
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Stocks eye fresh highs as U.S.-Iran talks resume, oil rises on Hormuz tensions
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German MEP Bernd Lange, chair of the European Parliament’s trade committee, has warned that the long-running Airbus-Boeing dispute could jeopardise the EU-US trade agreement struck last summer if transatlantic tensions flare again in the coming weeks.
The implementation of the Turnberry Agreement, clinched in July 2025 by US President Donald Trump and European Commission President Ursula von der Leyen in Scotland, is entering its final stretch, with EU lawmakers expected to approve it in a vote next Tuesday.
However, the five-year truce between US aerospace giant Boeing and its European rival Airbus over mutual subsidy allegations expires on 11 July, with the Trump administration and the European Commission yet to agree to extend it.
“Will this lead to another escalation? Nobody knows,” Lange, the Parliament’s lead negotiator on the EU-US deal, told journalists on Thursday during a meeting with fellow Socialist lawmakers.
The MEP is concerned that a renewed aerospace dispute could further strain transatlantic trade ties after a year of intense tensions.
“I hope this will not blow up,” Lange told Euronews.
The battle between Boeing and Airbus dates back more than two decades. The US first brought a case before the World Trade Organization arguing that the EU was illegally subsidising Airbus. Brussels responded with its own complaint, accusing Washington of unlawfully supporting Boeing.
The dispute eventually spiralled into a tariff war, with both sides imposing punitive duties on products ranging from wine and spirits to cheese and tobacco, affecting $11.5 billion worth of trade.
A truce was reached in 2021 under the Biden administration, taking effect on 11 July that year and suspending retaliatory measures for five years. However no extension has been announced since.
“Discussions with the US are ongoing to ensure stability and certainty and to continue the suspension of countermeasures on both sides,” Commission deputy chief spokesperson Olof Gill told Euronews.
In its Trade Policy Agenda 2026, the Trump administration said the US Trade Representative would decide in July “whether to take action in the Section 301 investigation involving the enforcement of US rights in the World Trade Organization disputes involving large civil aircraft”.
The US is able to impose tariffs on trading partners under section 301 of the Trade Act of 1974.
Last week, Washington threatened to impose 10 percent tariffs on EU goods over forced labour following a Section 301 investigation. If implemented, those duties would be added to existing most-favoured-nation tariffs, pushing average US tariffs on EU goods above the 15 percent ceiling agreed under the Turnberry deal.
Under the agreement, which EU lawmakers are expected to adopt next week, the EU committed on its side to eliminate its duties on US goods. However, lawmakers fought hard to include safeguards to protect the deal from future US tariff threats and ensure the 15 percent cap is respected.
The agreement has always appeared fragile. Trump has repeatedly used tariffs as leverage in non-trade disputes, from his push for the acquisition of Greenland earlier this year to his more recent threat to impose 25 percent tariffs on EU cars after German Chancellor Friedrich Merz criticised the war with Iran.
Should the Airbus-Boeing dispute reignite, it could give the US president another pretext to unravel the 2025 agreement.

This photo, taken Wednesday, shows the trading room of Hana Bank in Seoul as South Korean stocks fell more than 4 percent amid escalating Middle East tensions and a tech sell-off. Photo by Yonhap
South Korean stocks plummeted more than 4 percent Wednesday amid escalating tensions between the United States and Iran and a tech slump fueled by concerns over the valuation of stocks related to artificial intelligence (AI). The local currency was trading lower against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 366.11 points, or 4.52 percent, to close at 7,730.82, almost eclipsing most of the over 8 percent surge from the previous day.
At one point, the index fell as low as 7,541.11.
Due to the sharp fall, the Korea Exchange had activated a sell-side sidecar for the index at 1:16 p.m., halting program trading for five minutes.
Trade volume was moderate at 457.5 million shares worth 39 trillion won (US$25.6 billion), with losers outnumbering winners 547 to 343.
Foreigners continued their sell-off for the 23rd consecutive session, dumping a net 2.77 trillion won, while retail investors and institutions purchased local shares worth 4.86 trillion won. Institutions sold 2.27 trillion won.
Market analysts said the KOSPI lost ground as tensions resurfaced in the Middle East after the U.S. struck Iran in response to the shooting down of an American Apache helicopter in the Strait of Hormuz and then Tehran hit back.
The risk-on appetite was also sapped by an overnight tech slide on Wall Street caused by concerns over the valuation of the AI stocks on news that Crusoe Energy Systems, a data center developer, suspended one of its projects upon the request of an unidentified big tech customer.
The tech-heavy Nasdaq composite closed 0.97 percent lower, and the S&P 500 dropped 0.26 percent, while the Dow Jones Industrial Average rose 0.17 percent.
Major tech shares led the market decline, with Broadcom losing 1.12 percent, Apple sliding 3.64 percent, Micron falling 1.4 percent and Nvidia down 0.2 percent.
Investors’ eyes are now on the upcoming release of the U.S. Consumer Price Index (CPI), which could give further clues on the U.S. Federal Reserve’s monetary policy amid bets on a hawkish pivot and the initial public offering of SpaceX later this week.
“The South Korean stock market was weighed down as risk aversion sentiment strengthened ahead of the U.S. CPI and Oracle’s earnings release, once triggering a sell-side sidecar,” Lee Kyoung-min, an analyst at Daishin Securities, said.
Lee said a hot inflation report could further contract the market sentiment, raising concerns over a possible U.S. rate hike.
In Seoul, market top-cap Samsung Electronics slid 6.06 percent to 302,500 won, while its chipmaking rival SK hynix plunged 7.54 percent to 2.05 million won.
AI investment firm SK Square shed 6.78 percent to 1.18 million won, and Samsung Electro-Mechanics shot down 8.38 percent to 1.8 million won.
Samsung Life Insurance dipped 6.36 percent to 368,000 won, and Samsung C&T plummeted 5.01 percent to 407,500 won.
Auto shares were also weak, with Hyundai Motor down 5.79 percent to 602,000 won, and its sister Kia losing 2.8 percent to 159,700 won. Hyundai Mobis dropped 4.2 percent to 570,000 won.
Internet portal operator Naver, which had recently rallied on news on its partnership with Nvidia, nosedived 11.67 percent to 227,000 won. Home appliances maker LG Electronics shot down 9.68 percent to 224,000 won.
Major shipbuilder HD Hyundai Heavy was among the few gainers, jumping 4.74 percent to 641,000 won.
Defense giant Hanwha Aerospace also climbed 1.48 percent to 1.03 million won.
The Korean won was quoted at 1,524.2 won against the U.S. dollar at 3:30 p.m., down 12.1 won from the previous session.
Bond prices, which move inversely to yields, closed mixed. The yield on three-year Treasurys added 2.5 basis points to 3.881 percent, and the return on the benchmark five-year government bonds dropped 3.2 basis points to 4.070 percent.
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Recent clashes between protesters and police killed at least 11 people.
It’s called the Joint Awami Action Committee, and it’s being accused of fuelling protests in Pakistan-administered Kashmir.
The group has been demonstrating against a rule that sets aside legislative seats for refugees from India-administered Kashmir who live in Pakistan. They say it gives them disproportionate influence in the divided region.
But the government says any change would require constitutional reform.
The issue has long been a subject of political debate in Pakistan-administered Kashmir. But how will its government deal with tensions rising once again?
Presenter: Imran Khan
Guests:
Maria Iqbal Tarana – Senior leader of Pakistan Muslim League-Nawaz
Sahar Khan – Nonresident fellow at the Institute for Global Affairs
Imtiaz Gul – Executive director at the Center for Research and Security Studies
Published On 9 Jun 20269 Jun 2026
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EXPLAINER
Tensions have escalated between Iran and Israel while ongoing diplomatic efforts have failed to yield a lasting peace deal.
Iran and Israel were on Monday locked in tit-for-tat missile attacks, as the fragile ceasefire that has held in place since April 8 appeared closer to collapse than at any point in the past seven weeks.
These escalating hostilities between Iran and Israel come as the United States-Israel war on Iran enters its 101st day on Monday.
Here is what is happening:
Global stocks extend retreat as rate hike fears, Middle East tensions rattle markets
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Lleft-wing candidate Roberto Sanchez and right-wing candidate Keiko Fujimori pose during a presidential debate in Lima, Peru, last weekend. This was the only debate between Fujimori and Sanchez before the decisive election scheduled for Sunday. Photo by Paolo Aguilar/EPA
June 6 (UPI) — Peru will choose its next president Sunday in a runoff election between Keiko Fujimori, leader of the right-wing Popular Force party, and Roberto Sánchez, candidate of the leftist coalition Together for Peru.
Nearly 28 million Peruvians are eligible to vote for what will be the country’s ninth president in just 10 years, a figure that reflects Peru’s deep institutional crisis and political fragmentation.
Recent polls show Sánchez and Fujimori in a statistical tie, meaning the final outcome could depend on undecided voters and the share of blank ballots.
For many observers, the central question is not only who will win the presidency, but whether Peru can break the cycle of political instability that has defined the past decade.
Fujimori’s candidacy once again places Fujimorismo at the center of Peruvian politics. The daughter of former President Alberto Fujimori remains one of the country’s most influential and polarizing political figures. Sunday’s vote marks her fourth consecutive attempt to win the presidency in a runoff election.
Sánchez, meanwhile, is a far less familiar figure outside Peru. His campaign has evolved throughout the race and has sought to appeal to supporters of former President Pedro Castillo, who was removed from office in 2022 after attempting to dissolve Congress.
Fujimori maintains a strong advantage in Lima, while Sánchez dominates much of the country’s interior, particularly in the Andean regions.
The election is taking place amid growing public frustration with Peru’s political system.
Beyond the traditional divide between Fujimorismo and anti-Fujimorismo that has shaped much of Peru’s politics over the past two decades, several analysts argue that the country’s deeper problem is a broader crisis of political representation.
Luis Lira, a researcher at the International Affairs Observatory at Finis Terrae University in Chile, said Peru has become one of the clearest examples of a “democracy without parties,” where political organizations have lost their ability to channel voter demands and have been replaced by highly personalized leadership.
“The presence of two candidates viewed as strongmen demonstrates the deterioration of political parties,” Lira told UPI.
Raúl La Torre, a Peruvian academic and professor at the University of the Andes in Chile, offered a similar assessment.
According to La Torre, Peru enters the runoff burdened by a representation crisis that has deepened over the past decade. Political parties remain weak, Congress continues to suffer from low public trust and the gap between citizens and political elites continues to widen.
Carlos Escaffi, founder of consulting firm Relaxiona Internacional, said the Fujimorismo versus anti-Fujimorismo divide remains relevant, but is no longer sufficient to explain voting behavior.
Issues such as public security, informal employment, economic opportunity and growing rejection of the traditional political class now play a larger role in shaping voter preferences, he said.
“The demand for order, security and concrete solutions to everyday problems appears to be playing an increasingly important role in voters’ decisions,” Escaffi told UPI.
Analysts also point to Peru’s political structure as a factor behind its persistent instability.
Juan Jiménez, a former prime minister under President Ollanta Humala, said the country has long experienced a contentious relationship between the executive branch and Congress, marked by frequent confrontations and repeated efforts to remove presidents from office.
“In the last 10 years we have had eight presidents. On Sunday we will have the ninth,” Jiménez told UPI.
He attributed part of the crisis to the repeated use of constitutional mechanisms that allow Congress to remove presidents from office, as well as to the country’s fragmented political landscape.
Questions over whether the eventual winner will be widely accepted have become another source of concern.
Polls released in recent days suggest an extremely close race, increasing the likelihood of legal challenges or accusations from the losing side.
Jiménez said the country’s first challenge after Sunday’s vote will be ensuring that all political actors accept the result.
“It is highly foreseeable that there will be a conflict over the outcome,” he said, noting that narrow margins in previous elections have repeatedly fueled allegations of fraud.
The former prime minister also argued that problems during the first round undermined confidence in electoral authorities and could contribute to renewed disputes once the final results are announced.
Escaffi, however, urged caution regarding claims of fraud. He said there is no evidence to support allegations of a systematic effort to alter the popular vote.
“What we have seen is that the fraud narrative has become a political tool used by different sectors to mobilize their supporters or preemptively challenge the results,” he said.
Political analyst and commentator Jorge “Coco” Salazar expressed a similar view, saying either candidate could challenge the outcome if the margin is extremely narrow.
Salazar told UPI that the climate of mistrust generated during the first round has created conditions for electoral disputes to once again dominate the political debate.
Regardless of who wins, analysts agree the next president will face structural challenges that extend far beyond the campaign.
The most pressing task will be restoring governability in a country where political confrontation has become routine.
According to La Torre, that will require building minimum agreements with a fragmented Congress, strengthening weakened institutions and rebuilding public confidence.
Corruption and public security also rank among voters’ top concerns.
Lira said Peruvians increasingly demand greater transparency and accountability from the political class, while rising crime has become one of the country’s most pressing social issues.
Escaffi warned that Peru’s ability to maintain economic stability despite years of political turmoil should not be taken for granted.
Institutions such as the Central Reserve Bank of Peru and the country’s fiscal discipline have helped cushion the effects of repeated political crises, he said, but prolonged uncertainty could eventually affect investment, economic growth and job creation.
Several analysts also believe the restoration of a bicameral legislature could help counter the institutional drift behind the recent instability.
Jiménez said the return of the Senate may make it more difficult to carry out rapid presidential removals and could create greater opportunities for political deliberation.
Even so, few experts are optimistic about a quick resolution to Peru’s political troubles.
“The election offers an opportunity to begin a more stable period, but by itself it does not guarantee that outcome,” La Torre said.
For many observers, the question that will remain after Sunday’s vote is not simply who wins the presidency but whether Peru’s political system can regain the legitimacy and stability it has steadily lost over the past decade.
Global markets are navigating two powerful and competing forces: escalating geopolitical tensions in the Middle East and continued investor enthusiasm for artificial intelligence-related stocks. While concerns over renewed conflict between the United States and Iran have boosted oil prices and supported demand for safe-haven assets, the AI-driven technology rally has continued to push stock markets higher, particularly in Asia.
Oil prices rose for a third consecutive session on Wednesday after fresh hostilities emerged in the Gulf region. Brent crude climbed 1% to $94.74 per barrel as hopes for a quick resolution to tensions between Washington and Tehran faded.
The U.S. military reported that Iranian missile attacks targeting Bahrain, Kuwait and other regional locations were either intercepted or failed. The developments came after negotiations aimed at ending the conflict between the United States and Iran stalled despite both sides announcing a tentative agreement last week.
Meanwhile, financial markets showed mixed reactions. U.S. stock futures were largely unchanged, while European futures edged lower. In Asia, however, technology shares continued their strong advance, helping stock indexes in Japan and Taiwan reach record highs.
Investors had previously expected the United States and Iran to formalize an agreement that would reduce regional tensions and ease concerns about energy supplies. The lack of progress in negotiations has instead revived fears of a prolonged conflict that could disrupt oil shipments from the Gulf, a critical region for global energy markets.
Higher oil prices typically reflect concerns about potential supply disruptions. The latest military developments prompted traders to unwind some of their earlier bets on a diplomatic breakthrough, contributing to the rise in crude prices.
Currency markets also reflected growing caution. The U.S. dollar strengthened against the Japanese yen, briefly touching the closely watched 160 level before retreating amid concerns that Japanese authorities could intervene to support their currency.
Despite geopolitical concerns, enthusiasm surrounding artificial intelligence remained a major driver of equity markets. Wall Street indexes posted modest gains on Tuesday, supported by technology shares.
Chipmaker Marvell Technology surged more than 32% after Nvidia chief executive Jensen Huang described the company as a potential trillion-dollar business. Investor optimism surrounding AI also helped propel SoftBank Group above Toyota Motor Corporation as Japan’s most valuable listed company.
The AI boom has continued to attract investment even as broader markets grapple with geopolitical uncertainty and concerns about interest rates.
Investors are now closely watching upcoming U.S. economic data, including services sector activity, private payroll figures and Friday’s employment report. Strong labor market data could reinforce expectations that the Federal Reserve will keep interest rates higher for longer or even consider further increases.
Bond markets remained relatively stable, while traders adjusted expectations from potential rate cuts earlier in the year to the possibility of additional rate hikes. Markets have also priced in the likelihood of monetary tightening in Europe and Japan.
At the same time, developments in the Middle East remain a key risk factor. Any further escalation between the United States and Iran could push oil prices higher and increase volatility across global financial markets, while continued strength in AI-related stocks may help support broader equity markets despite geopolitical headwinds.
With information from Reuters.
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The European Commission confirmed to Euronews on Wednesday that EU trade chief Maroš Šefčovič will meet his Chinese counterpart, trade envoy Li Chenggang, on the sidelines of an OECD ministerial meeting in Paris on Thursday.
The visit comes as EU-China relations remain strained, with Brussels seeking to crack down on Chinese overcapacity and tackle a record-high €359.9 billion trade deficit with Beijing.
After the EU unveiled the so-called Industrial Accelerator Act and the Cybersecurity Act which could exclude Chinese companies from the EU market, China threatened retaliation, fuelling fears of a trade war between the two trading partners.
Tensions escalated further last week when EU commissioners met to discuss the bloc’s strategy towards the Asian giant.
“The current state of the trade and investment relationship is not sustainable,” the Commission said in a statement after the meeting.
An EU official told Euronews that a majority of the Commissioners had agreed to strengthen the EU’s trade defence tools to help counter China. Proposals will be made to EU leaders during their summit on 18 June.
However, member states remain divided over the EU’s China policy. A non-paper signed by France, Italy, Spain, the Netherlands and Lithuania called for faster use of tariffs and quotas on imports threatening EU industrial sectors, with China the principle target. The idea is to restore a level playing field against Chinese trade practices that many in Europe describe as unfair.
Among those countries taking a different line is Germany, whose policy is to preserve access to the Chinese market for its companies even as it faces a deep trade deficit.
Meanwhile, the Commission said it will continue engaging with China. There have been reports that Commerce Minister Wang Wentao could visit Brussels on 28 and 29 June, but the visit has not yet been publicly confirmed.

naphtalina/iStock via Getty Images
Wall Street closed the week higher as easing Middle East tensions, softer-than-expected inflation data, and strong corporate earnings boosted investor sentiment.
Investor sentiment improved after President Donald Trump said a framework to end the conflict with Iran and restore shipping
May 28 (UPI) — The U.S. military attacked Iran, Tehran confirmed early Thursday, as Iran announced retaliatory strikes of its own.
Iran targeted a U.S. air base at about 4:50 a.m. local time in response to the U.S. military striking presumed Iranian military assets near Bandar Abbas Airport in southern Iran.
“This response is a serious warning so that the enemy knows aggression will not go unanswered, and that in the event of a repeat, our response will be more decisive and the responsibility and consequences will lie with the aggressor,” Iran’s Islamic Revolutionary Guard Corps said in a statement carried by Iranian state media.
The air base targeted and whether it sustained damage were not known. The U.S. military has yet to comment.
The announcement came as the Kuwait Army said its air defenses were confronting “hostile missile and drone attacks.” While the United States maintains a significant military presence in Kuwait, it was not immediately clear whether those attacks were related to the U.S.-Iran exchange.
Explosions were heard near Bandar Abbas, Iranian state news agency Tasnim reported earlier Thursday.
Citing an unidentified military source, the news agency said the U.S. attack followed the Iranian Navy firing shots toward a U.S. oil tanker that had turned off its radar system and intended to pass through the Strait of Hormuz.
The oil tanker reportedly ended its attempt to transit the vital energy maritime trade route.
Iran has been enforcing has been restricting access through the Strait of Hormuz since the start of the war, permitting only certain vessels through. The United States responded with a military blockade of Iran’s ports, cutting it off from sea-based trade.
The two sides have been in talks since a fragile cease-fire was agreed to last month, with Thursday’s U.S. strikes on Iran the second time it has attacked the country so far this week.
On Monday, the U.S. military attacked southern Iran, describing the strikes as “self-defensive” in nature.
The Trump administration has repeatedly stated that it intends to secure free navigation of the Strait of Hormuz, one way or another, though it would prefer to do so through diplomacy.
Iran’s control of Hormuz is reportedly one of its conditions in negotiations on ending the war. In response to reports carried by Iranian state media that Iran and Oman, which border either side of the Strait of Hormuz, are in talks over control of the choke point, President Donald Trump said the transit route will be open to all countries and under no government’s control.
“It’s international waters. Nobody’s going to control it. We’re going to watch over it. We’ll watch over it, but nobody’s going to control it. That’s part of the negotiation that we’re having,” he told reporters during a Cabinet meeting on Wednesday.
“And Oman will behave just like everybody else or we’ll have to blow them up. They understand that. They’ll be fine.”

The Lebanese Health Ministry reports that Israeli attacks have killed 3,269 people since March 2.
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EXPLAINER
Israeli strikes kill 31 in Lebanon as attacks intensify and displacement orders spread.
Israeli attacks across southern Lebanon killed at least 31 people and wounded 40 others on Tuesday, as Israeli forces intensified strikes and issued dozens of displacement orders for towns and villages in the country’s south and east.
Panic spread across southern Lebanon as residents fled the escalating assault, with Israeli ground forces reportedly pushing deeper into Lebanese territory amid fears of a wider offensive.
Meanwhile, Iranian officials condemned what they called “blatant violations” of the ceasefire by the United States after attacks on southern Iran on Monday, saying the strikes had further damaged already fragile diplomatic efforts.
Here is what we know:
May 19 (UPI) — U.S. Secretary of State Marco Rubio said he has imposed additional sanctions against Cuba, with more to come in the days and weeks ahead, as the Trump administration ratchets up the pressure on the communist government of President Miguel Diaz-Canel.
The sanctions announced Monday by the U.S. State Department target 11 Cuba officials and three Cuban security and intelligence entities, freezing any assets under U.S. jurisdiction and prohibiting U.S. persons from doing business with them.
Agencies blacklisted were Cuba’s Ministry of Interior, the National Revolutionary Police Force and its Directorate of Intelligence, Havana’s primary foreign intelligence agency.
Officials hit included the heads of the Revolutionary Police Force as well as various ministers, the chief of staff of military counterintelligence, the chief of the Central Army of Cuba, the chief of the Eastern Army of Cuba, and the president of Cuba’s National Assembly for People’s Power, among others.
Rubio described them as “Cuban regime elites” and officials who have been involved in repressing the Cuban people.
“Regime-aligned actors such as those designated today bear responsibility for the suffering of the Cuban people, the failing Cuban economy and the exploitation of Cuba for foreign intelligence, military and terror operations,” he said in a statement, while warning that more sanctions “can be expected” in the following days and weeks.
“Today’s designations further restrict the Cuban regime’s ability to suppress the will of the Cuban people.”
Late Monday, Diaz-Canel lashed out at the United States over the sanctions, saying no one in Cuba’s government, political party or military institutions has any assets or property to protect under U.S. jurisdiction — and the Trump administration knows this.
“The anti-Cuban rhetoric of hate tries to make people believe such things exist in order to justify the escalation of its total economic war,” he said in a social media statement.
“That’s why we will continue to denounce, int he firmest and most energetic way possible, the genocidal siege that seeks to strangle our people.”
He described Trump’s Cuban policy as “collective punishment” and “an act of genocide,” calling on the international community to prosecute those responsible for it.
President Donald Trump has been targeting Havana with sanctions and economic restrictions since early this year, when he declared a national emergency concerning Cuba on the grounds that it has aligned with “numerous hostile countries, transnational terrorist groups and malign actors adverse to the United States.”
Trump has blocked Venezuelan oil shipments to Cuba, adding to the decades-old economic embargo and worsening the island nation’s energy crisis. The country’s fuel oil stocks have run dry, according to officials, and blackouts are common.
Trump has repeatedly raised the prospect of military action against Cuba and has stopped short of directly calling for regime change as he seeks to extend the United States’ influence across the Western Hemisphere.
Cuba blames the United States for its current economic and energy situation, and the sanctions came as its foreign minister, Bruno Rodriguez Parrilla, on Monday, defended Havana’s right to self-defense in response to reports that claimed the island nation had purchased drones from Russia and Iran.
While some Republicans, including Sen. Rick Scott and Rep. Carlos Gimenez, both of Florida, celebrated the sanctions, several Democrats have condemned the Trump administration’s broader campaign, accusing it of manufacturing a pretext for war.
Reps. Delia Ramirez of Illinois and Nydia Velazquez of New York lambasted the administration in a joint statement, accusing it of attempting to justify another “unauthorized and unlawful military invasion,” seemingly referring to the U.S. military abduction of Venezuelan President Nicolas Maduro in January and Trump’s late February strikes on Iran, which triggered a war later halted by a fragile cease-fire.
“For the Trump administration, the goal is another military incursion. They will justify their actions by claiming it serves the freedom of Cubans,” the Democratic pair said, calling on Congress to pass a war powers resolution to curb Trump’s ability to make war without congressional authorization.
“Today, we must act to stop the destructive ambitions of imperialists and warmongers.”

Taiwan has expressed openness to a direct conversation between US President Donald Trump and Taiwanese President Lai Ching te, following heightened diplomatic attention after Trump’s recent summit with Chinese leader Xi Jinping in Beijing.
The discussion comes amid renewed sensitivity over Taiwan’s political status and security, an issue that remains one of the most contested points in US China relations. During the summit, Taiwan was reportedly discussed, with Xi warning of potential conflict if the issue is not handled carefully.
Trump made several public comments on Taiwan following the meeting, including uncertainty over future arms sales and remarks interpreted as cautious on Taiwan independence.
A direct call between a US president and Taiwan’s leader would be highly significant, as no such conversation has taken place since Washington switched diplomatic recognition from Taipei to Beijing in 1979.
Taiwan relies heavily on the United States for security support and arms supplies, making US political signaling on the issue highly consequential for regional stability.
Taiwanese officials said recent remarks had created some uncertainty domestically, even as the government maintains that its core policy position has not changed.
Taiwan’s foreign ministry indicated that it would welcome a direct conversation if the opportunity arises, while also seeking clarity on Washington’s intentions.
Officials emphasized that Taiwan continues to view its relationship with the United States as stable, even amid shifting rhetoric following high level US China engagement.
Taipei reiterated that its political future must be determined by its own population, rejecting Beijing’s sovereignty claims.
The situation reflects the broader strategic competition between United States and China, where Taiwan remains a central geopolitical flashpoint.
Beijing considers Taiwan part of its territory, while Washington maintains a policy of strategic ambiguity, supporting Taiwan’s defense capabilities without formally recognizing it as an independent state.
The possibility of direct engagement between Trump and Lai would represent a notable diplomatic signal, even if symbolic in nature. It would likely be interpreted differently by Washington, Taipei, and Beijing, each of which assigns distinct strategic meaning to Taiwan related communication.
For Taiwan, such contact would reinforce political visibility and strengthen informal ties with its key security partner. For the United States, it could serve as a calibrated message of support while still avoiding formal diplomatic recognition.
However, it also carries escalation risks. Any perceived shift in US Taiwan engagement often triggers strong reactions from Beijing, increasing regional tension.
Overall, the development highlights how Taiwan remains a central pressure point in US China relations, where even limited diplomatic gestures can have outsized geopolitical impact.
With information from Reuters.
VIENNA — Vienna’s famed coffeehouses have embraced the Eurovision Song Contest. They have also been touched by tensions over Israel’s inclusion in the sequin-drenched pop music competition.
When officials announced a list of “Eurofan Cafes” — Vienna coffee shops offering food and music from competing countries — Israel was initially left out.
MQ Kantine, a modern café in the city’s arty museums quarter, offered to step in. Now it has falafel, bagels with lox and kosher wine on the menu, a string of small Israeli flags hanging from the ceiling — and a police officer outside the door.
Security is tight across Vienna during the international music contest, whose “United by Music” slogan rings sightly hollow this year. Five countries are boycotting because Israel is taking part. Pro-Palestinian activists are planning a protest concert — one of several Eurovision alternatives across Europe — and an anti-Israel march before Saturday’s grand final.
At MQ Kantine, volunteers take turns to monitor for potential trouble. But so far the mood has been supportive, said Daniel Kapp, a PR consultant and pro-Israel campaigner.
“It’s beautiful,” he said, as people drank coffee and beer on the café terrace in the spring sunshine, though he noted that the police officer on duty showed that all is “not entirely normal.”
“My feeling is that Austria to a certain degree has learned from its history,” Kapp said, referring to the deadly antisemitism under the Nazis before and during World War II. “Which is why the support for Israel is a lot more normal than it is in other countries.”
Israel has competed in Eurovision for more than 50 years, and won four times. But its participation has been contested since it launched a war in Gaza after 1,200 people were killed in a Hamas-led cross-border attack on Oct. 7, 2023. More than 73,000 Palestinians have been killed since the war began, according to the territory’s Health Ministry, which operates under the Hamas-run government and whose detailed records are viewed as generally reliable by the international community.
Israel’s government has repeatedly defended its campaign as a response to the Oct. 7 attack. But a number of experts, including those commissioned by a United Nations body, have said that Israel’s offensive in Gaza amounts to genocide. Israel, home to many Holocaust survivors and their relatives, has vigorously denied the claim.
The latest Israel-Hezbollah war in Lebanon and the U.S.-Israeli war on Iran have driven tensions still higher.
The 2024 Eurovision contest in Malmo, Sweden, and last year’s event in Basel, Switzerland, saw pro-Palestinian protests that called for Israel to be expelled. Five countries — Iceland, Ireland, the Netherlands, Slovenia and Spain — pulled out of the 2026 contest after organizers allowed Israel to compete.
The tensions have produced a Eurovision of two halves. An upbeat party atmosphere prevails inside the Wiener Stadthalle arena and in the separate Eurovision Village fan zone. But getting in means passing through a ring of steel, with searches, scanners and a ban on all bags inside the arena. Armed police are a very visible presence on the streets.
Awareness of risk from terror plots is high in the city after a 21-year-old Austrian man accused of pledging allegiance to the Islamic State group pleaded guilty to plotting to attack a Taylor Swift concert in Vienna in 2024.
Israeli singer Noam Bettan told Israeli media that, like last year’s Israeli competitor Yuval Raphael, he practiced performing while being booed. There were scattered shouts amid the cheers when he performed in the first Eurovision semifinal on Tuesday. He secured a spot in Saturday’s final by being one of the top 10 finishers in voting by viewers and national juries.
Organizers said four people were removed from the 10,000-strong audience for disruptive behavior.
Austrian Eurovision fan Ivo Herzl, who attended the semifinal, said “the vibe was incredibly positive.” He is showing support for Israel by making and selling Mazel Lov T-shirts — a play on “mazel tov,” a Hebrew and Yiddish phrase of congratulations.
“Vienna has always been a city of tolerance,” Herzl said. “It’s the city of music and we’ll always do everything possible for everyone to enjoy a musical event.”
Some Israeli fans said they were reassured by the tight security. Oz Yona, attending his first Eurovision, said he had experienced “no hate” and felt Austria took antisemitism seriously.
He came with friends to cheer for Israel, though he was not optimistic about Bettan’s chances — for musical rather than political reasons.
“I don’t think he will win,” Yona said. “Finland is better this year. Greece is better this year. We have a good song, but not a winning song.”
Birgitta Peterson and Kristina Nilsson, who wear matching pink bomber jackets and call themselves the Swedish Ladies, love to explore new cities and meet up each year with their “Eurovision family” of fellow fans. They plan to wave Israeli flags at Saturday’s final, after Swedish contestant Felicia said earlier this year that she didn’t think Israel should be in the contest.
They say tensions over Israel have divided a fan community long known for its friendliness and embrace of diversity.
“The wounds are very deep at the moment,” Nilsson said.
“This event should really be about ‘united by music’ and happiness,” she added. “That’s what Eurovision is all about.”
Lawless writes for the Associated Press.
Both sides target each other despite a pause in fighting mediated in March.
Relations between Pakistan and Afghanistan have been tense since the Taliban took power in 2021.
On Monday, Pakistan summoned a senior Afghan diplomat after an attack claimed by the Pakistan Taliban, known by the acronym TPP. The group said it carried out two more attacks since, mostly against security forces.
Islamabad accuses Kabul of backing the fighters, which it denies.
The latest violence started with a major border skirmish in February. Mediation efforts by Saudi Arabia, Qatar, Turkiye and China led to a pause in the fighting.
But the two sides have continued to target each other. This includes a Pakistani strike on a drug rehabilitation centre that killed more than 250 people.
Will these breaches lead to a resumption of hostilities? And is lasting peace possible between the neighbours?
Presenter: James Bays
Guests:
Masood Khan – Former permanent representative of Pakistan, United Nations
Michael Kugelman – Senior fellow, Atlantic Council
Obaidullah Baheer – Adjunct lecturer, American University of Afghanistan
Published On 16 May 202616 May 2026
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The South Korean Navy’s 3,200-ton Eulji Mundeok destroyer (front) and other vessels engage in the first live-fire drills of the year in waters off Taean, South Korea. File. Photo by YONHAP / EPA
May 8 (Asia Today) — South Korea’s Navy will deploy the destroyer Wang Geon to the Gulf of Aden next week with newly upgraded anti-drone defense systems, following heightened security concerns after an explosion aboard a South Korean-operated vessel near the Strait of Hormuz.
Defense Ministry officials said the 4,400-ton destroyer, assigned to the Cheonghae anti-piracy unit, is scheduled to depart from the naval port in Jinhae on May 15.
The deployment comes 10 days after an explosion and fire aboard the HMM Namu cargo vessel near the United Arab Emirates in waters close to the Strait of Hormuz. While South Korean officials later said it remains unclear whether the ship was attacked, the incident intensified concerns over growing threats to commercial shipping in the region.
The Wang Geon is expected to replace the destroyer Dae Jo Yeong in early June as part of the Navy’s regular six-month rotation in the Gulf of Aden.
Military officials and defense analysts said the latest deployment reflects a broader shift in South Korea’s maritime security posture as regional tensions escalate across the Middle East.
The destroyer has reportedly been equipped with enhanced counter-unmanned aerial systems designed to respond to drone and missile threats increasingly seen in the Red Sea and Gulf region.
According to defense industry experts, the upgrades include electronic jamming systems capable of disrupting hostile drones, along with improved integration between the ship’s close-in weapon systems and Rolling Airframe Missile interceptors.
The destroyer’s upgraded combat system is also expected to improve simultaneous threat detection and response capabilities against drone swarm attacks and low-cost unmanned systems.
South Korean officials have closely monitored attacks by Yemen’s Houthi rebels, who have used drones and cruise missiles to target more than 100 vessels since late 2023, according to international assessments.
The Wang Geon is the fourth Chungmugong Yi Sun-sin-class destroyer operated by the South Korean Navy. The vessel previously served in anti-piracy missions and is now undertaking its 10th overseas deployment.
The ship carries a Korean vertical launch system, anti-submarine missiles and Hyunmoo-3 cruise missiles designed for precision strike operations.
The deployment also follows remarks by President Lee Jae-myung last month supporting multinational efforts to secure freedom of navigation in the Strait of Hormuz.
During a virtual summit hosted by France and Britain on April 17, Lee said South Korea was a “key stakeholder” in Hormuz security and pledged to make a “practical contribution” to protecting maritime navigation.
Government officials later confirmed the comments signaled Seoul’s willingness to expand the operational scope of the Cheonghae unit beyond the Gulf of Aden.
Military planners are reportedly considering broader operations near the Strait of Hormuz, though officials said any expanded multinational mission could require parliamentary approval.
Lawmakers from both the ruling and opposition parties have argued that participation in multinational military operations during wartime conditions would need National Assembly consent under South Korean law.
The Cheonghae unit was originally established in 2009 to combat Somali piracy, but defense analysts say its mission has increasingly evolved toward countering asymmetric threats from state-backed groups and regional militias.
Since its creation, the unit has supported the safe passage of more than 40,000 vessels and gained international attention during the 2011 rescue of the Samho Jewelry crew from Somali pirates.
Officials say the Wang Geon’s upcoming deployment marks a turning point as South Korea expands its role in global maritime security operations amid rising instability in the Middle East.
— 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=20260508010001759
Pope Leo has called on global leaders to reduce international tensions and turn away from violence, delivering an emotional appeal during a visit to Pompei, Italy, on Friday. His remarks came just one day after he met U.S. Secretary of State Marco Rubio at the Vatican, where both sides discussed efforts to improve strained relations between Washington and the Holy See.
The meeting took place against a politically sensitive backdrop, with U.S. President Donald Trump having recently criticized the Pope over his comments on the Iran conflict. Pope Leo, the first U.S.-born pontiff and former Cardinal Robert Prevost, has increasingly spoken out on global conflicts in recent weeks after initially maintaining a relatively low public profile following his election in May 2025.
Speaking to worshippers in Pompei, the Pope urged prayers that world leaders would be inspired to “calm rancour and fratricidal hatreds” and to take responsibility for reducing global violence. He also warned against becoming desensitized to images of war, and criticized what he described as an international system that often prioritizes the arms trade over human life.
The Pope’s intervention highlights the growing moral and diplomatic role of the Vatican at a time of heightened global instability, particularly amid ongoing tensions involving Iran, the United States, and wider geopolitical rivalries. His criticism of the global arms economy directly challenges dominant security-driven foreign policy approaches, especially in Western capitals.
As the spiritual leader of more than 1.4 billion Catholics worldwide, Pope Leo’s statements carry significant symbolic and diplomatic weight. His increasingly vocal stance on war and governance also places him in a rare position of open tension with major political actors, including the U.S. administration.
The Vatican is expected to continue engaging diplomatically with U.S. officials despite emerging tensions, particularly following the Rubio meeting. Pope Leo is likely to maintain his public messaging on peace, conflict prevention, and criticism of the global arms trade, reinforcing the Holy See’s traditional role as a moral voice in international affairs. At the same time, reactions from Washington and other governments may further shape the evolving tone of Vatican–state relations in the coming months.
With information from Reuters.
Thailand has formally scrapped a 25 year old agreement with Cambodia aimed at jointly exploring offshore energy resources in disputed waters. The decision, announced by Prime Minister Anutin Charnvirakul, marks a significant shift in bilateral relations and raises fresh uncertainty over the future of energy cooperation in the region.
The agreement, known as Memorandum of Understanding 44, was signed in 2001 to create a framework for joint exploration of oil and gas reserves in overlapping maritime claims within the Gulf of Thailand. Despite its ambitious goals, the pact has seen little tangible progress over the past two and a half decades.
A Long Stalled Framework
Memorandum of Understanding 44 was designed as a dual track mechanism. It sought to enable joint resource exploration while allowing both countries to continue negotiations over maritime boundary demarcation. However, repeated political disruptions, competing national interests, and periodic tensions prevented meaningful advancement.
Thai officials have increasingly argued that the agreement failed to deliver results, with no concrete development of hydrocarbon resources despite years of dialogue.
Domestic Politics and Strategic Timing
The cancellation also reflects domestic political dynamics in Thailand. Anutin, who secured reelection following a surge in nationalist sentiment, had pledged to withdraw from the agreement as part of his campaign platform.
Although he has stated that the decision is not directly linked to recent border conflicts, the broader context suggests otherwise. Nationalist pressures and public opinion have played a role in shaping policy, particularly after violent clashes between the two countries last year.
Cambodia’s Response and Regional Implications
Cambodia has previously expressed strong opposition to Thailand’s plan to withdraw, describing it as deeply regrettable and reaffirming its commitment to the agreement. The lack of immediate response following the announcement leaves open questions about Phnom Penh’s next steps.
The termination of the pact could complicate future negotiations, especially in resource rich areas where both nations maintain overlapping claims. It may also delay potential energy development projects that could have benefited both economies.
From Cooperation to Legal Frameworks
Thailand has indicated that it will now rely on the United Nations Convention on the Law of the Sea as the basis for any future discussions. This shift signals a move away from cooperative frameworks toward a more formal and potentially contentious legal approach to resolving maritime disputes.
While UNCLOS provides established mechanisms for dispute resolution, negotiations under its framework can be lengthy and politically sensitive.
Conflict and Fragile Stability
The backdrop to this decision includes two recent rounds of armed conflict along the Thailand Cambodia border, which resulted in significant casualties and large scale displacement. Although a ceasefire has been in place since late December, tensions remain high, and mutual distrust persists.
Each side continues to blame the other for initiating the clashes, underscoring the fragile nature of the current peace.
Analysis
Thailand’s withdrawal from the joint energy agreement reflects a broader shift from cooperative engagement to assertive unilateralism. While the official rationale centers on lack of progress, the timing and political context suggest that strategic and domestic considerations are equally influential.
For Thailand, the move reinforces national sovereignty and responds to domestic expectations. However, it also risks escalating tensions with Cambodia and undermining long term opportunities for shared economic gains.
For Cambodia, the collapse of the agreement represents both a diplomatic setback and a potential loss of access to jointly developed energy resources. It may now seek alternative avenues, including international arbitration or renewed bilateral negotiations under different terms.
At a regional level, the decision highlights the challenges of managing overlapping territorial claims in resource rich areas. Without effective cooperation mechanisms, such disputes are more likely to shift toward legal confrontation or political escalation.
Ultimately, the end of this long standing pact underscores a key reality in international relations. Agreements that lack sustained political commitment and mutual trust are unlikely to endure, particularly in environments shaped by nationalism and unresolved territorial disputes.
With information from Reuters.
Published on
The EU Trade Commissioner Maroš Šefčovič is scheduled to meet his US counterpart Jamieson Greer on Tuesday amid rising tensions between the bloc and the US following President Donald Trump’s announcement of a potential 25% tariff on EU automobiles.
The discussions, scheduled ahead of a G7 trade ministers’ meeting in Paris, were planned before President Trump’s latest tariff threat, Euronews has learned.
But they now give both sides an opportunity to ease tensions after Trump signalled measures that would breach the EU-US trade deal agreed last summer in Turnberry, Scotland, between Trump and Commission President Ursula von der Leyen, which caps US tariffs on EU goods at 15%.
On Monday, the Commission sought to project a sense of calm.
“It’s not the first time we have seen threats,” Commission spokesperson Thomas Regnier said, adding: “We remain very calm, focused on enforcing the joint statement in the interests of our companies, of our citizens.”
Trump’s threat came after German Chancellor Friedrich Merz criticised the US approach to the war in Iran, and after Washington announced the withdrawal of 5,000 US troops from Germany, further straining transatlantic relations.
German MEP Bernd Lange (S&D), chair of the European Parliament’s trade committee, told Euronews on Monday that Trump’s threats were aimed specifically at German car manufacturers.
The US president also accused the EU of moving too slowly to implement the agreement.
“Since day one we are implementing the Joint Statement [the EU-US deal] and we are fully committed to delivering on our shared commitments,” Regnier said, adding that the EU was seeking predictability in the EU-US trade relation.
The Turnberry deal is currently being negotiated between EU governments and lawmakers before it can enter into force on the EU side. Co-legislators must still agree on the modalities for cutting EU tariffs on US goods to zero, as outlined in the agreement.
MEPs have nonetheless introduced safeguards to ensure the EU is not the only party adhering to its commitments and to protect the bloc from future US threats.
The Commission reiterated Monday that if the US takes measures that are “inconsistent” with the trade deal, all “options” remain open.
Last year, during the trade dispute that followed Trump’s return to power, the EU executive prepared a package targeting €95 billion worth of US products, though the measures were later suspended.
At the time, several EU countries also urged the use of the bloc’s anti-coercion instrument, which enables the EU to respond to economic pressure from third countries with a wide range of trade defence tools, including restrictions on licences and intellectual property rights.
HAVANA — Cubans hunched over tables this month to sign up for the socialist government’s campaign to support national sovereignty and defy the U.S. as tensions between the countries escalate.
They are endorsing “My signature for the Homeland” movement, which President Miguel Díaz-Canel launched earlier this month.
The initiative is mocked by some who question why people stood in line to sign when hunger and poverty are growing across the island, while supporters say it serves as a warning to the U.S. that civilians want peace but will not back down despite recent threats of invasion.
“Anything for the revolution,” said Rodolfo Ruiz, 64, who sells sunglasses and other items out of his home in Havana. He said he signed last week because of President Trump’s ongoing comments over Cuba, “so that he may hear and know that we are willing to defend our sovereignty.”
“Watch out, Trump. Think before you invade Cuba, think carefully. The people are prepared,” Ruiz said.
In January, Trump signed an executive order asserting that the “policies, practices, and actions of the Government of Cuba constitute an unusual and extraordinary threat,” something Cuban officials have repeatedly scoffed at.
Trump has referred to the island as a “failing nation” and suggested a “friendly takeover.”
“We may stop by Cuba after we’re finished with this,” he said in mid-April, referring to the war in Iran.
Meanwhile, U.S. Secretary of State Marco Rubio — the son of Cuban immigrants who fled before the revolution — has called for “new people in charge” of Cuba.
“It is absurd for the State Department to claim that Cuba — a relatively small, developing country subjected to a brutal economic war — could pose a threat to the world’s greatest military, technological, and economic power,” Cuban Foreign Affairs Minister Bruno Rodríguez wrote in a post on X on Wednesday.
Díaz-Canel has said he does not want military aggression, but noted that Cuba has a duty to prepare to avoid it, and if necessary, defeat it.
Havana resident Delfina Hernández said she would stand shoulder to shoulder with Cubans to fight a U.S. energy blockade, a sharpening of longtime U.S. sanctions and what many refer to as the “imperialist threat.”
For three days last week, the community center she runs in Havana with her husband received sheets of paper and opened its doors so people over age 16 could sign them. Hernández was the first to do so.
“Cuba is something very sacred to us,” she said. “We are well-armed, and the people of Cuba will fight to the very end. We are going to hit them — and with everything we’ve got.”
Criticism was swift on social media, though, with opponents of the campaign asserting that the “homeland” has not provided them with anything. Some said the government should allow people to sign in favor of things like the ability to choose their president.
The homeland initiative began on April 19 and comes as Cuba celebrates the 65th anniversary of its April 1961 Bay of Pigs victory over some 1,500 Cuban exiles backed by the CIA who failed in their attempt to overthrow Fidel Castro’s newly formed Communist government.
Alberto Olivera, a visual artist and Hernández’s husband, questioned how Cuba poses a threat to the U.S.
“If it’s a failed revolution, then leave us alone,” he said. “What do they care?” Hernández added.
Olivera recognized that Cubans have unmet needs, adding that he has been hungry at times, but asserted that the “pressure cooker” tactic by the U.S. would not work.
“If I’m a failed state, why are you seeking me out?” he asked.
The Trump administration has demanded that Cuba release political prisoners, implement major economic reforms and change its way of governance — all things Cuba has rejected, saying it’s open to dialogue and cooperation in certain areas as it pushes for the end of a U.S. energy blockade that has deepened the island’s crises.
Both countries have confirmed recent talks, although details remain secret.
As tensions persist, Cuba’s government is gathering signatures at workplaces and neighborhoods across the island of nearly 10 million people, remaining mum on how many it has collected.
It said in a statement that the signatures are meant to condemn “the U.S. blockade and economic war against Cuba,” which it called a “genocidal act,” and to repudiate threats of military aggression while upholding “the inalienable right of Cubans to live in peace.”
Coto writes for the Associated Press.