Iran war live: Tehran plans tolls in Hormuz; Trump warns of ‘very bad time’ | US-Israel war on Iran News
Iran to reveal its plan for Strait of Hormuz soon as Israel attacks Lebanon and Gaza, killing and wounding dozens.
Published On 17 May 2026
Iran to reveal its plan for Strait of Hormuz soon as Israel attacks Lebanon and Gaza, killing and wounding dozens.
Francesca Albanese speaks to Redi Tlhabi on sexual violence against Palestinians by Israeli forces and its coverage.
A recent New York Times article highlighted the sexual violence suffered by Palestinians at the hands of Israeli forces. But the allegations have been documented for years by human rights groups and Palestinian organisations. So why does the world only seem to pay attention when a Western news organisation does?
This week on UpFront, Redi Tlhabi speaks with UN Special Rapporteur Francesca Albanese about sexual violence, Israeli impunity – and the double standards of Western attention.
Published On 16 May 202616 May 2026
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The presidents of Nigeria and the United States have announced the killing of Abu-Bilal al-Minuki, described as the second-in-command of ISIL (ISIS).
Donald Trump first made the announcement in a social media post on Friday, without disclosing when or where the joint Nigerian-US military operation happened.
On Saturday, Nigerian President Bola Tinubu said in a statement that al-Minuki, also known as Abu-Mainok, was killed “along with several of his lieutenants” during a strike on his compound in the Lake Chad Basin.
The Nigerian army described it as “a meticulously planned and highly complex precision air-land operation” carried out on Saturday between midnight and 4am (23:00 to 03:00 GMT) in Metele, in Borno state in northeast Nigeria.
Borno has been the epicentre of a long-running campaign by the Boko Haram armed group and its splinter faction, the Islamic State West Africa Province (ISWAP), which is linked to ISIL.
Little is publicly known about al-Minuki, who had been under US sanctions since 2023.
Before pledging allegiance to ISIL in 2015, al-Minuki was a prominent Boko Haram leader, according to the Nigerian army.
An army statement described him as a “key” operational and strategic figure who provided guidance to ISIL entities outside Nigeria on media operations, economic warfare and weapons manufacturing.
“His death removes a critical node through which ISIS coordinated and directed operations across different regions of the world,” the army said.
It added that al-Minuki oversaw ISIL-linked operations across the Sahel and West Africa, including attacks against “ethnic and religious minority communities”. In 2018, he was linked to the kidnapping of more than 100 schoolgirls in Dapchi, in northeastern Nigeria’s Yobe state.
Al-Minuki is believed to have risen through the ranks of ISWAP following the disappearance of veteran commander Mamman Nur in 2018.
His reported ability to operate discreetly and avoid public attention helped him maintain influence over operations, while evading detection by regional and international security forces.
Cheta Nwanze, chief executive of the Lagos-based advisory group, SBM Intelligence, said al-Minuki had previously been declared killed in 2024 after a military operation in Kaduna state.
“That earlier announcement did not produce a lasting degradation of ISWAP’s capabilities,” he told Al Jazeera, warning that eliminating a single commander may have a limited impact.
Nwanze said the group will be able to recover as long as a growing “ransom economy” in Nigeria – which raised some $1.66m between July 2024 and June 2025, according to an SBM intelligence report – “remains intact”.
“The ultimate tool for control is the man on the ground with a gun, and the ultimate backing for that man is a functional social contract, which sadly Nigeria does not have,” he said. “Until the economic logic that feeds these groups is disrupted, the cycle will continue.”
Experts say leaders such as al-Minuki have been central to coordination between local fighters and ISIL’s broader network, but are not irreplaceable due to the group’s decentralised command structure.
“The killing of al-Minuki will disrupt ISWAP operationally in the short term,” Alex Vines, the Africa programme director at the European Council on Foreign Relations, told Al Jazeera.
“ISWAP has proven resilient to leadership losses, suggesting this killing will not be strategically decisive on its own.”
ISWAP has recently intensified attacks along the Nigeria-Cameroon border, targeting military outposts and humanitarian convoys.
These operations are seen as part of a deliberate effort to consolidate territory and demonstrate the group’s continued relevance despite ongoing pressure, including after Trump accused Nigeria of not doing enough to protect Christians in the country’s north from attacks.
The Nigerian government has rejected the claim, insisting that Muslims are also being targeted by armed groups. In recent months, dozens of US troops have been deployed to Nigeria to help in the fight against armed groups by providing intelligence sharing and technical support.
Tinubu said Nigeria “appreciates” the partnership with the US “in advancing our shared security objectives,” adding that he looked forward “to more decisive strikes against all terrorist enclaves across the nation”.
Vines said al-Minuki’s killing was “a tactical win” for the Tinubu administration, but ISWAP remains a “serious security concern”.
As for the US, eliminating al-Minuki is likely to be framed as a victory against ISIL’s Africa network. It will also reinforce Nigeria’s importance “as a key security partner and a reminder that bilateral relations are much better than a year ago”, Vines told Al Jazeera.
Nwanze said the joint nature of the strike signalled a deepening of US‑Nigeria security cooperation, but the collaboration “will face limits”.
“Washington’s willingness to engage is likely contingent on narrow counter‑terrorism objectives, not on a wholesale commitment to rebuilding Nigeria’s fractured security architecture,” he added.
Mubarak Aliyu, a political and security risk analyst, called the elimination of al-Minuki “a remarkable operational success”. He stressed, however, that “broader, inclusive governance reforms remain fundamental to solving the long-term security challenges in the wider region”.
Lebanon’s Ministry of Health said Israeli attacks have killed 2,951 people since March 2 with at least 8,988 wounded.
Published On 16 May 202616 May 2026
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The lawyers for Mahmoud Khalil, a former Columbia University student targeted for deportation by the United States government over his pro-Palestine advocacy, have called on an immigration appeals court to reopen and terminate his case.
The latest legal appeal points to new evidence, some of which was documented in media reports, that Khalil’s lawyers said it “suggests that the Trump Administration secretly engineered the outcome of his immigration case to make an example of him”.
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It comes just over a month after the Board of Immigration Appeals issued a final order of removal for Khalil, who was first detained by immigration enforcement agents in March 2025, one of several students targeted for their participation in pro-Palestine campus protests that swept the US the previous year.
Khalil, a US permanent resident who is married to a US citizen, has long maintained that he has been unjustly targeted for his political views.
His legal team said on Friday that “apparent procedural abnormalities” support that view.
“It’s clear that the revelations of DOJ misconduct corroborate what we have known since Mahmoud was arrested–that the administration has reverse-engineered its desired outcome by weaponising a farcical proceeding littered with abnormalities,” Johnny Sinodis, a lawyer representing Khalil, said in a statement.
The new evidence includes a report by The New York Times that found that Khalil’s case had been flagged as high priority before it had arrived at the Board of Immigration Appeals, in what his lawyers say indicated the case was being “fast-tracked”.
The report, citing case documents, also found that the court had been instructed to treat Khalil’s case as if he were still in detention custody, which typically results in an expedited processing timeline.
Khalil was released from immigration detention in June 2025 following a federal judge’s order. An appeals court later ruled the judge did not have jurisdiction over the matter. He is also appealing that decision, during which time authorities are barred from re-detaining or deporting him.
The New York Times report also found that three judges at the Board of Immigration Appeals recused themselves from the case. While the reasons for the recusals were not made public, experts familiar with the board’s procedures have said the rate of recusals was extremely rare.
The Board of Immigration Appeals is meant to be independent. Like other immigration courts, it falls under the Department of Justice in the executive branch, which critics say makes it more vulnerable to interference.
Other federal courts fall under the independence of the judicial branch.
The Trump administration has framed Khalil’s deportation as part of a crackdown on anti-Semitism. They have presented no evidence to back the claims against him, and Khalil has never been charged with a crime.
This week, The Intercept news site reported that shortly after he was detained by immigration agents, the FBI had closed an investigation into a tip that Khalil had called for “violence on behalf of Hamas”, saying it did not warrant further investigation.
In targeting Khalil, US Secretary of State Marco had invoked a rarely used provision of the Immigration and National Act that allows the deportation of individuals deemed to be a national security threat based on “past, current or expected beliefs, statements, or associations that are otherwise lawful”.
The manoeuvre raised questions over freedom of speech and whether those protections extended to permanent residents like Khalil. The government later added the claim that Khalil had intentionally failed to disclose his past work for the UN agency for Palestinian refugees (UNRWA) on his immigration application.
Administration officials have repeatedly stood by the claims and maintained that Khalil received proper due process.
In a statement on Friday, Khalil said the administration “wants to arrest, detain, and deport me to intimidate everyone speaking out for Palestine across this country, and they are willing to violate longstanding US rules and procedures to do it”.
He added, “No lies, corruption, or ideological persecution will stop me from advocating for Palestine and for everyone’s right to free speech.”
Cubans lit fires in Havana’s streets to protest electricity blackouts.
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US President Donald Trump concluded a two-day summit in Beijing with Chinese leader Xi Jinping. The high-profile visit, in which Trump aimed to reset relations with Beijing, saw discussions on trade, Taiwan, and the war on Iran.
Published On 15 May 202615 May 2026
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US President Donald Trump said he discussed US arms sales to Taiwan with Chinese leader Xi Jinping during talks in Beijing. Trump also said he is considering lifting sanctions on Chinese companies that buy Iranian oil.
Published On 15 May 202615 May 2026
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Published On 15 May 202615 May 2026
Early signs point to the United States and China moving towards a relationship focused on pragmatic areas of common interest following US President Donald Trump’s trip to China, according to analysts, setting aside the turmoil that marked 2025.
Trump was in Beijing for three days this week to meet with Chinese President Xi Jinping, accompanied by a delegation of American CEOs, including the heads of Apple, Nvidia, BlackRock and Goldman Sachs.
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The meeting between the two leaders came just over six months after they agreed to pause the US-China trade war for a year on the sidelines of a multilateral summit in South Korea. While a frequent critic of China’s economic policies at home, Trump appeared to get along with Xi in person throughout his trip and lavished praise on the Chinese leader.
“It’s an honour to be with you, it’s an honour to be your friend, and the relationship between China and the USA is going to be better than ever before,” Trump told Xi on Thursday.
The White House readout of the Trump-Xi meeting on Thursday stressed areas of common ground, stating that the leaders had “discussed ways to enhance economic cooperation between our two countries” by “expanding market access for American businesses into China and increasing Chinese investment into our industries”.
Notably absent from the statement was any mention of China’s export controls on rare earths, critical materials used across the tech, defence and energy sectors. China controls nearly the entire industry, and it has moved to restrict US access.
William Yang, senior Northeast Asia analyst at the Crisis Group, told Al Jazeera that Trump’s remarks showed he would likely try to compartmentalise US-China relations into areas where the two sides can work together without being overshadowed by geopolitical concerns.
Xi, while less effusive, also spoke of his desire to move towards a new US-China framework based on “constructive strategic stability”, meaning that the US and China should try to “minimise competition, manage differences and allow stability to be the foundation of the bilateral relationship”, according to Yang.
Both leaders appear to have sidestepped other controversial issues, such as the status of Taiwan, a 23 million-person democracy claimed by Beijing but unofficially backed by Washington.
Xi told Trump during their meeting that Taiwan was the “most important issue” in the US-China relationship, and that mishandling it could lead to “clashes and even conflicts” between the two sides. Beijing objects to Washington’s ongoing military support of Taiwan and has pressed the US to take a more explicit line on Taiwan’s political status.
Although the US does not recognise the government in Taipei, it maintains a deliberately vague policy on China’s territorial claims. Despite the controversy, neither the Chinese nor the US readout mentioned whether Trump discussed Taiwan or the future of arms sales – suggesting he either disagreed with Xi or avoided the topic.
Analysts like Yang say it is still too soon to know whether Trump will heed Xi’s remarks by blocking or delaying a $14bn arms deal reportedly in the works for Taiwan. The deal would need Trump’s sign-off to move forward, according to US legislators.
Xi was equally circumspect on Iran and the Strait of Hormuz, which has been shuttered since the US and Israel launched a war on Iran on February 28.
Trump has previously pushed China to encourage Iran to reopen the strait, through which a fifth of the world’s oil and gas passed each year before the war, because of its close relationship with Tehran. China and Iran signed a 25-year “strategic partnership” in 2021, and Beijing buys 80 to 90 percent of Iran’s oil annually.
Trump raised the points again in his meeting with Xi in Beijing, according to the US readout, which said the two leaders “agreed that the Strait of Hormuz must remain open to support the free flow of energy”.
“President Xi also made clear China’s opposition to the militarisation of the Strait and any effort to charge a toll for its use, and he expressed interest in purchasing more American oil to reduce China’s dependence on the Strait in the future. Both countries agreed that Iran can never have a nuclear weapon,” the readout said.
The Chinese readout of their meeting on Thursday did not include mention of Iran or its nuclear programme.
Chucheng Feng, founding partner of Hutong Research based in Beijing, told Al Jazeera that the omissions reflect that Xi and Trump still disagree on key issues, including Iran, but that the overall message from the summit was a desire to move forward.
“For Beijing, the most important thing is to find a floor for the relationship, to set up and enhance guardrails so that no surprises or uncontrolled escalations suddenly emerge. For that, item-by-item disagreements are largely secondary,” he said.
EXPLAINER
The US and Chinese leaders agreed during talks in Beijing that the Strait of Hormuz should remain open to ensure global energy supplies.
Published On 15 May 202615 May 2026
United States President Donald Trump and Chinese President Xi Jinping discussed the Strait of Hormuz during talks in Beijing, with the White House saying Xi agreed the strategic waterway “must remain open to support the free flow of energy” as tensions over the Iran war continue to roil global markets.
Meanwhile, Iran’s Foreign Minister Abbas Araghchi urged fellow BRICS nations at a meeting in New Delhi, India, to condemn the US-Israel war on Iran as a violation of international law, insisting Tehran would “never bow to any pressure”.
At the same time, a third round of direct talks between Lebanese and Israeli negotiators is under way in Washington, DC, aimed at ending hostilities, even as Israeli attacks continue across towns and villages in southern Lebanon.
Here is what we know:
Al Jazeera’s Manuel Rapalo reports from Washington, where the first of two days of US-mediated ambassador-level talks between Israel and Lebanon concluded on Thursday. A ceasefire between them expires on Sunday, though Israel has killed 512 Lebanese since its implementation on April 17.
Published On 15 May 202615 May 2026
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A third round of direct talks between Israel and Lebanon has kicked off in Washington, DC, days before the expiration of a “ceasefire” that hardly halted Israeli attacks and Hezbollah’s response to them.
The talks, which began on Thursday, represent a step towards more serious negotiations, with higher-level envoys from Lebanon and Israel taking part after the initial preparatory sessions were headed by the ambassadors of the two countries to Washington.
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Lebanese officials are hoping that the two-day negotiations will yield a new ceasefire deal and pave the way for tackling a series of thorny issues, including the withdrawal of Israeli forces from southern Lebanon and the disarmament of Hezbollah.
US Secretary of State Marco Rubio, who attended the first Israel-Lebanon meetings in Washington in April, was with US President Donald Trump on a visit to China and did not attend Thursday’s session.
Lebanon’s envoy heading up Thursday’s talks, Simon Karam, is an attorney and well-connected former Lebanese ambassador to the United States who recently represented Lebanon in indirect talks with Israel over implementation of the ceasefire that preceded the latest outbreak of war between Israel and Hezbollah.
On the Israeli side, Deputy National Security Adviser Yossi Draznin was set to attend.
“We do not want to downplay the significance of these talks, but they are ambassador-level talks, excluding top leadership from Israel, Lebanon and the US,” said Al Jazeera’s Manuel Rapalo, reporting from Washington, DC, adding that there is no diplomatic relationship between Lebanon and Israel.
Trump has publicly called for a meeting between Lebanese President Joseph Aoun and Israeli Prime Minister Benjamin Netanyahu, while Aoun has declined to meet or speak directly with Netanyahu at this stage – a move that would likely generate blowback in Lebanon.
Hezbollah, meanwhile, is not part of the talks and has been vocally opposed to Lebanon engaging in direct negotiations with Israel.
A lawmaker from the Iran-backed group, Ali Ammar, on Thursday reiterated his group’s rejection of the direct talks, saying they amounted to “free concessions” to Israel.
Still, “there is optimism”, said Al Jazeera’s Rapalo.
“The cessation of hostilities agreement is due to expire on Sunday, so there is an expectation that this will be front and centre in discussions,” he said.
“Of course, the immediate objective is to prevent the situation along the border from escalating into a broader regional conflict.”
The United Nations earlier on Thursday expressed hope for the new round of direct negotiations.
“We hope that the latest round of direct talks between Lebanon and Israel in Washington, planned for today and tomorrow, will contribute to an effective and durable ceasefire and open a path towards lasting peace,” deputy spokesman Farhan Haq told the reporters.
Haq said the UN Interim Force in Lebanon (UNIFIL) continues to observe “significant” aerial and military activity across its area of operations, including multiple air strikes on Wednesday by Israel.
“We reiterate our call on all the parties to exercise maximum restraint, ensure the protection of civilians and humanitarian personnel and fully respect their obligations under international humanitarian law,” he added.
In Lebanon, people also hope for an end to violence as the diplomatic efforts continue.
“I think people here in southern Lebanon are cautiously optimistic about the possible results from these meetings,” said Al Jazeera’s Obaida Hitto, reporting from Tyre, Lebanon.
“Everyone understands that Lebanon is not ready for normalisation, legally speaking. There is a part of the constitution that prevents Lebanon from actually having normalisation with Israel. People realise this might be a huge obstacle to move forward and find a way to live in peace with Israel.”
Still, the Lebanese population wants the violence to stop, said Hitto.
“It’s been more than two months of ongoing Israeli strikes, artillery strikes, air strikes, drone strikes, coordinated, systematic demolitions of entire towns and villages,” he said.
The Israeli army continues daily strikes in Lebanon despite a ceasefire that was announced on April 17 and later extended until May 17.
Three people were killed in Israeli strikes in southern Lebanon on Thursday, Lebanese media reported.
Since March 2, Israeli attacks in Lebanon have killed at least 2,896 people, injured over 8,824, and displaced more than 1.6 million, about one-fifth of the country’s population, according to Lebanese officials. In that time, at least 200 children in Lebanon have been killed in Israeli attacks, the UN Children’s Fund (UNICEF) said on Thursday.
Istanbul, Turkiye – When investigations by Al Jazeera and other media outlets in 2024 revealed that Israeli-linked artificial intelligence (AI) systems such as Lavender and Gospel had helped generate thousands of military targets in Gaza, critics warned that warfare was entering a new era – one driven not only by soldiers and bombs, but by algorithms, data, and surveillance technology.
Then, in September 2024, thousands of pagers and walkie-talkies used by members of Hezbollah exploded in coordinated attacks in Lebanon, widely attributed to Israeli intelligence operations that had turned ordinary communication devices into weapons.
And, last year, reporting by Al Jazeera also raised concerns about the use of cloud and data infrastructure linked to major US technology companies in Israeli surveillance operations involving Palestinians.
For a growing number of scholars, economists and political thinkers, such developments reflect more than just the changing nature of conflict. They show how power in the modern world is increasingly exercised not just through military force, but through technology, finance and control over information.
That argument has revived broader debates around decolonisation – a term historically associated with the dismantling of European empires after World War II, when countries across Asia, Africa and the Middle East gained formal independence.
But many proponents of what is termed “decolonial theory” – a school of thought arguing that colonial-era systems of power and hierarchy still shape modern politics, economics and knowledge – argue that colonial power structures never fully disappeared. Instead, they evolved, embedding themselves in global financial systems, technology platforms, media networks and even the production of knowledge itself.
Dependence of Global South countries on Western technology, digital infrastructure and global markets can create new forms of political and economic vulnerability, particularly across the Global South.
“A generation may have grown up believing they had never experienced colonialism or exploitation,” Esra Albayrak, board chair of the NUN Foundation for Education and Culture and daughter of Turkish President Recep Tayyip Erdogan, told Al Jazeera during the World Decolonization Forum in Istanbul on May 11-12.
“Yet, mentally, they may still be living under colonial influence.”
The war in Gaza marked a turning point, Albayrak says, shining a spotlight on how international principles are not applied equally. Global institutions have so far failed to stop what many countries and rights groups have described as genocide against Palestinians.
“The world is sounding an alarm, and we can no longer afford to remain indifferent to it,” she said.
Albayrak argues that a handful of technology companies are emerging as new, invisible centres of power, shaping how information is produced, circulated and consumed in the digital age.
She describes the digital sphere as the realm of what she calls “future colonialism”, warning that AI systems trained largely on Western-centric data risk reinforcing existing global inequalities.
“When AI systems are run by those tech companies and trained on Western sources, they risk carrying the hierarchies of the past into tomorrow’s digital world, as they now have personalised data, suppressing identity,” Albayrak said.
By this, she means that most major AI models are still trained largely on English-language and Western-produced data – a pattern critics say risks sidelining non-Western languages, cultures and perspectives.
On social media platforms, algorithms tend to amplify some conflicts while rendering others nearly invisible, effectively shaping what billions of users see, discuss and remember online.
Walter D Mignolo, professor at Duke University, argues that while what we historically see as “formal colonialism” may have largely ended, systems of Western dominance continue through economics, culture, technology and knowledge production.
“Coloniality is not over. It is all over the world,” Mignolo said, arguing that modern ideas of development and progress often have the effect of pressuring societies to conform to Western norms.
Rather than simply resisting those systems, he said, societies must find a way to “re-exist” by rebuilding intellectual and cultural autonomy outside dominant global frameworks.
The March 2026 Global Debt Report by the Organisation for Economic Co-operation and Development (OECD) reveals that 44 countries face severe debt burdens, often aggravated by global conflicts, forcing some governments to spend more on interest payments than on health or education.
This is not a new phenomenon, as developing countries have been labouring under the weight of foreign debt for decades.
But British political economist and author Ann Pettifor told Al Jazeera that modern forms of domination are now increasingly embedded not in empires or nation-states, but in financial systems operating beyond democratic oversight.
Pettifor points to the growing influence of “shadow” banking networks – financial institutions operating largely outside traditional banking regulations – and giant asset managers such as BlackRock, which manages $13 trillion in assets.
Much of the global financial architecture now functions largely outside the regulatory control of governments, she says, including that of Western states themselves.
“This is not a state colonising other states,” Pettifor said. “This is the financial system colonising the whole world, including my country and the US.”
She argues that elected governments increasingly struggle to control key economic realities – from energy prices to commodity markets – because those systems are dictated by global financial actors operating far beyond public accountability.
In Nigeria, for example, Pettifor says, efforts to expand domestic refining capacity continue to face pressure from international financial institutions and global energy markets to keep fuel prices tied to global markets and maintain reliance on imported refined oil products, despite its vast oil reserves.
Coordinated cooperation between developing nations may be necessary to challenge the dominance of Western-centred financial systems, Pettifor says, pointing to growing efforts across parts of West Africa to expand regional refining capacity and reduce dependence on imported fuel. Yet such ambitions can also leave critical sectors dependent on the decisions and influence of a small number of powerful private actors.
Global financial markets, algorithm-driven platforms, and foreign-controlled digital infrastructure increasingly define everyday life – from fuel and food prices to the information people consume online and the technologies governments and societies depend on, observers say.
As wars become increasingly influenced by AI, digital infrastructure and financial dependency, debates around colonisation are focusing less on territorial control and more on who influences energy prices, lending systems, access to technology and the flow of information across borders, observers say.
Albayrak draws a parallel between today’s debates around technology and global power and Rudyard Kipling’s 1899 poem “The White Man’s Burden”, published as the US took control of the Philippines following the Spanish-American War. The poem framed colonial expansion as a moral obligation to “civilise” other societies rather than an exercise of domination.
Albayrak said such traces of “mastery complex” still survive today, though in different forms – not necessarily through military occupation, but through technological, financial and informational influence.
But what the world really needs, she argues, is a global order built not on hierarchy, but on shared responsibility.
“The burden should belong to humanity collectively.”
The Hague in the Netherlands hosts the world’s most powerful international courts, where judges speak for the conscience of humanity. Yet we consult them only after atrocities have erupted – after wars have shattered communities and legal battles begin.
In theory, law can hold power to account. But has it been enough? Can it truly confront militarism, prevent atrocities, and protect people before disaster strikes?
Join Ali Rae for episode two of All Hail the Military, a five-part series that reveals the systems, power, and hidden complicities that sustain global militarism – and the profound impact it has on us all.
Published On 14 May 202614 May 2026
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Long-term US borrowing costs climbed to levels not seen since before the global financial crisis after the Treasury auctioned $25bn (€21.3bn) in 30-year bonds at a high yield of 5.058% on Wednesday, according to the department’s own data.
The sale came only hours after the US Senate voted to confirm former Federal Reserve governor Kevin Warsh as the next chairman, succeeding Jerome Powell.
The auction result immediately complicated the backdrop for Warsh’s arrival at the central bank, underlining the pressure facing policymakers as inflation is rising.
At the time of writing on Thursday, US 30-year bonds are trading at 5.02% while 10-year notes are selling with a yield of 4.44%.
US inflation figures released earlier this week showed consumer prices rose 3.8% from April 2025 as the 10-week Iran war pushed energy costs higher and distanced inflation from the Federal Reserve’s 2% target.
Producer price data also pointed to persistent underlying cost pressures across the economy, reinforcing expectations that the central bank may struggle to ease monetary policy quickly.
Rising Treasury yields have broad implications for the economy because they influence borrowing costs on mortgages, corporate debt and other forms of credit.
Higher long-term yields can also increase financing costs for the US government at a time when public debt is nearing $40 trillion (€34.1tn).
Investors are increasingly concerned that a combination of resilient economic growth, elevated energy prices and sustained government borrowing could keep inflationary pressures alive despite two years of restrictive monetary policy.
The yield on the benchmark 30-year Treasury bond being auctioned above 5% is a symbolic threshold last reached in 2007 before the onset of the global financial crisis.
While market conditions today differ substantially from that period, the move nonetheless underscores the sharp repricing that has taken place in global bond markets over the past two years.
Kevin Warsh takes over the Federal Reserve at a delicate moment for the US economy.
The former Morgan Stanley banker and Fed governor has previously argued in favour of maintaining the central bank’s credibility on inflation, while also signalling support for reforms to the institution’s communication strategy and balance sheet policies.
Warsh’s confirmation comes as financial markets remain divided over how aggressively the Federal Reserve should respond to persistent inflation pressures.
Some investors believe rates may need to stay higher for an extended period, while others warn that maintaining tight monetary conditions for too long could weigh heavily on economic growth and employment.
The main driver of the rise in inflation is the current disruption to global energy markets caused by the Iran war which also leaves the central bank at the mercy of geopolitics and not able to effectively control the situation.
Analysts stated that Wednesday’s Treasury auction illustrated the immediate challenge confronting the incoming Fed chair.
Elevated bond yields can help tighten financial conditions without additional rate increases from the central bank, but they can also amplify risks for heavily indebted households, businesses and the federal government itself.
For Warsh, the market reaction served as an early reminder that restoring confidence on inflation may prove more complicated than simply holding interest rates at restrictive levels.
Ahead of President Trump’s arrival in Beijing on Wednesday for his summit with Chinese President Xi Jinping, longtime China expert Kurt M. Campbell offered a novel way of watching the two leaders’ high-stakes faceoff. Think of it not as nation-versus-nation or army-versus-army, but as the sort of “single combat” celebrated in ancient literature, along the lines of David and Goliath in the Bible or Achilles and Hector in “The Iliad.”
“This one has the feel of a geopolitical heavyweight matchup,” Campbell, chairman of the Asia Group strategic consulting firm, wrote in Foreign Affairs this week.
Unlike in their initial get-together early in Trump’s first term, both men now are seasoned leaders in their separate ways — Xi an unchallenged dictator, and an envious Trump seeking to be. Both act with few immediate checks on their power, though Xi acts strategically and Trump impulsively and transactionally. And both, as leaders of super-powers, have the capability to shape the economic and security fates of a wary world.
That world, Campbell concluded in his essay, is “eager to see whether the two leaders emerge driving together in the chariot, or with one dragging the other behind,” as Achilles did the vanquished Hector.
However the Trump-Xi meeting ends, Trump is no Achilles going into this match. In fact, in the six decades of U.S.-China relations, perhaps no American president has entered the summit arena in a weaker position than Trump, the would-be strongman and artiste of the deal. Worse, his weakness — and by extension his country’s — is mostly self-inflicted.
Trump had postponed what was intended as an early April meeting in hopes of striding triumphantly into Beijing as the conqueror of Iran, a China ally. Instead China is receiving him as a “giant with a limp,” in the phrase of its Communist Party-controlled Global Times newspaper.
Trump’s Mideast war, the sort he’d promised never to start, lingers for a third month in a costly stalemate — $29 billion and counting — that has humiliated the president in the public words of Germany’s chancellor and the private thoughts of many more global leaders, Xi likely among them. Trump can’t “project the same arrogance” as he did visiting China in 2017, a former Chinese army officer, Yue Gang, told the New York Times.
At home, the conflict has caused gasoline prices and inflation to spike while tanking Trump’s already depressed polls. A newly released CNN poll conducted April 30 to May 4 had 65% of Americans disapproving of his overall job performance and a whopping 70% against his handling of the economy — the issue that arguably got him elected. With experience, American consumers and soybean farmers now know that they, not the Chinese, have paid for Trump’s beloved tariffs.
The president’s standing at home could hardly have been helped by his parting words to reporters at the White House. Asked “to what extent are Americans’ financial situation motivating you to make a deal” with Iran, Trump blithely replied, “Not even a little bit.” He added, in the sort of political gaffe that journalist Michael Kinsley defined as telling the truth: “I don’t think about Americans’ financial situation. I don’t think about anybody.”
He’s already a loser in the negotiations with Xi. For weeks the Trump administration has unsuccessfully urged China to use its leverage to goad Iran to accept a peace on Americans’ terms or, at a minimum, to reopen the Strait of Hormuz, given China’s self-interest as Iran’s biggest oil customer by far. As China scholar Henrietta Levin of the Center for Strategic and International Studies told the Associated Press, “I don’t think China has any interest in solving the problems the U.S. has created for itself in the Middle East.”
Not least, perhaps, because China has seen that, by the Pentagon’s own reckoning, the war has depleted U.S. stockpiles of weaponry after thousands upon thousands of strikes against Iran. And that has further raised questions in China and beyond about whether Trump would have the United States come to the defense of Taiwan, the self-governing, U.S.-armed island that China claims as its own.
After all, the thinking goes, if the United States can’t bring a lesser power like Iran quickly to heel, how might it fare against a near-peer such as China, especially with a diminished U.S. arsenal and Mideast distractions?
It’s mostly a mystery what the leaders’ talks might yield. In a break with diplomatic tradition, though not with Trump’s seat-of-the-pants style, apparently little planning went into this super-power summit — another reflection of a distracted U.S. side. Still, with a number of tech, agribusiness, finance and aerospace chieftains in tow, Trump and his team are hoping for a few politically appealing deliverables, such as sales of U.S. soybeans and Boeing aircraft, to give the president a lift back home.
But don’t look for progress on the longstanding issues dividing the United States and China over trade and military dominance in the Pacific region. And as for another of those perennial issues — climate change and clean-energy technology — the U.S. under Trump has willfully surrendered global preeminence to China, ceding markets for solar, wind energy, electric vehicles, grid storage and more in his backward-looking, ostrich-like obsession with drilling oil and mining coal.
Whatever hyperbolic claims Trump makes for his China trip, the outcome of the summit (on top of his quagmire in Iran) should at least be this: retiring the myth of Trump the deal-maker and savvy businessman.
If he were such a visionary, Trump would be prodding the nation to global leadership in technology and clean-energy investments, not reversing past progress and paying companies billions of taxpayers’ dollars to stop clean-energy projects. In markets worldwide, the future is now and America is forfeiting the game to China.
In this contest, Trump is letting Xi drive the chariot. Unfortunately, average Americans are the ones being dragged through the dust as China rides into the 21st century.
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Round-trip train tickets brought down to $98 from $150, and bus fares to cost $20 instead of $80, state officials say.
Local governments in New Jersey and New York have reduced the cost of train and bus tickets for commuters travelling to the states’ joint World Cup venue during the tournament.
New Jersey Transit train tickets to the MetLife Stadium, renamed New Jersey New York Stadium for the FIFA World Cup, will now cost $98 as opposed to the earlier price set at $150 for a return fare, New Jersey Governor Mikie Sherrill announced on Wednesday.
“Ahead of NJ Transit World Cup train tickets going on sale tonight, NJTRANSIT is lowering ticket prices to $98 without New Jersey taxpayer money,” Sherrill wrote in a social media post.
The move followed intense backlash from local and international football fans planning to attend World Cup games at the stadium in East Rutherford, New Jersey, where the tournament’s final will be held on July 19.
The $98 fare, which will be charged during the World Cup matches hosted in New Jersey, is still significantly higher than the regular fare of $13 for the 29km (18-mile) round trip from New York City’s Penn Station.
When the $150 fare was announced, Sherrill defended it by suggesting the upcharge was necessary to ensure that her state’s commuters were not stuck with a “tab for years to come” for hosting the World Cup on its return to the United States for the first time since 1994.
NJ Transit officials said it would cost $62m to transport fans to and from the stadium over the duration of the tournament and outside grants had defrayed only $14m of those anticipated expenses.
“This isn’t price gouging,” NJ Transit President and CEO Kris Kolluri said last month. “We’re literally trying to recoup our costs.”
Meanwhile, the cost of taking a shuttle bus from New York City to the World Cup venue has also been reduced.
“The cost of shuttle bus tickets to and from matches will be reduced from the initial $80 round-trip price to $20,” New York Governor Kathy Hochul announced on the same Wednesday.
The move from the NYNJ Host Committee offers some respite for fans who would have already spent thousands of dollars on attending a World Cup game, largely due to the exorbitant match ticket prices, international and local airfares, and visa costs.
The host city officials said 20 percent of bus tickets for each match will be reserved exclusively for New York state residents. The remaining tickets will be available for all match-going fans.
The US is cohosting the tournament with Mexico and Canada. It begins on June 11.
The UN warns disruptions in the Strait of Hormuz could drive up food and fertiliser costs, and worsen global hunger.
The next global food crisis is unfolding in a narrow stretch of water.
The United Nations warns that if fertilisers cannot pass through the Strait of Hormuz within just a few weeks, the world could face mass starvation.
It says the consequences could be severe if shipping disruptions linked to the Iran conflict drag on.
Food prices are already at a three-year high, while fertiliser costs critical for agriculture have rocketed.
Aid agencies fear a prolonged disruption could push tens of millions more people into hunger.
For vulnerable economies already struggling with debt and high import costs, the risks are growing fast.
Published On 14 May 202614 May 2026
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WASHINGTON — The Trump administration is suspending a requirement that foreign visitors from countries that have qualified for the World Cup and have bought tickets for the soccer tournament pay as much as $15,000 in bonds to enter the United States, the State Department said Wednesday.
The department imposed the bond requirement last year for countries that it said had high rates of people overstaying their visas and other security issues as part of the Republican administration’s broader crackdown on immigration.
Travelers to the United States from 50 countries are required to pay the new bond, and five of those countries have qualified for the World Cup — Algeria, Cape Verde, Ivory Coast, Senegal and Tunisia.
Citizens from those five countries who have purchased tickets from FIFA are now exempt from the visa bond requirement. World Cup team players, coaches and some staff already had been exempt from the bond requirement as part of the administration’s orders to prioritize the processing of visas for the tournament.
“The United States is excited to organize the biggest and best FIFA World Cup in history,” Assistant Secretary of State for Consular Affairs Mora Namdar said. “We are waiving visa bonds for qualified fans who bought World Cup tickets” and opted in to the “FIFA Pass” system that allows expedited visa appointments as of April 15.
The waiver is a rare loosening of immigration requirements under the administration and will ease travel burdens for at least some visitors to the U.S. for the World Cup, which begins June 11 and is co-hosted by the United States, Canada and Mexico.
The administration has taken dramatic steps to restrict immigration in ways that critics say are incongruous with the type of unifying message that a global sporting event such as the World Cup is supposed to project.
For instance, the administration has barred travelers from Iran and Haiti, though World Cup players, coaches and other support personnel are exempt. Travelers from Ivory Coast and Senegal face partial restrictions under an expanded version of that travel ban, even without the visa bond exemption.
Foreign travelers also are facing new requirements to submit their social media histories, while the administration had deployed U.S. Immigration and Customs Enforcement agents at airports recently when Transportation Security Administration personnel were not being paid.
Those measures prompted Amnesty International and dozens of U.S. civil and human rights groups to issue a “World Cup travel advisory” that warns travelers about the climate in the U.S.
In a report this month, the main advocacy group for U.S. hotels blamed visa barriers and other geopolitical issues for “significantly suppressing international demand,” leading to hotel bookings for the soccer tournament that are far below what had initially been anticipated.
The American Hotel & Lodging Assn. said travelers are concerned about potentially lengthy visa wait times and increased fees, along with uncertainty about how they’re being processed to enter the U.S.
The bond requirements are part of the administration’s larger effort to clamp down on migrants who travel to the U.S. on temporary visas but then overstay them. Visa applicants from the affected countries are required to pay $5,000, $10,000 or $15,000 in bonds, which will be refunded if the traveler complies with the terms of the visa or if the visa application is denied.
As of early April, the number of World Cup fans affected by the bond requirement was believed to be relatively small, perhaps only about 250 people, according to U.S. officials who were not authorized to comment publicly and spoke on condition of anonymity. But they said that number was changing rapidly as more people buy tickets and some with tickets opt against traveling.
FIFA had requested the waiver, which had to be approved by the State Department and Department of Homeland Security, and was the topic of discussion at multiple meetings at the White House and elsewhere in Washington for several months, the officials said.
Kim and Lee write for the Associated Press.
Iran’s First Vice President Mohammad Reza Aref said Tehran’s ‘right’ to the Strait of Hormuz is ‘established and the matter is closed’, state media reports.
Amid an oil blockade against the island, the US blames Cuba’s communist leadership for ‘standing in the way’ of aid.
The United States has offered $100m in humanitarian assistance to Cuba on the condition that the island’s communist government agrees to “meaningful reforms”.
The sum was made public in a statement from the US State Department on Wednesday, though the administration of President Donald Trump underscored it had made the offer privately in the past.
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But the $100m comes with strings: namely, that Cuba’s government commits to Trump-approved changes.
“Today, the Department of State is publicly restating the United States’ generous offer to provide an additional $100 million in direct humanitarian assistance to the Cuban people,” the statement said.
“The decision rests with the Cuban regime to accept our offer of assistance or deny critical living-saving aid and ultimately be accountable to the Cuban people for standing in the way of critical assistance.”
The statement marks the latest chapter in an ongoing pressure campaign designed to destabilise Cuba’s communist leadership.
Since Cold War tensions in the 1960s, the US has placed a comprehensive trade embargo on the Caribbean island, in part as a reaction to the Cuban Revolution.
It has become the longest-running trade embargo in modern history, and the US has justified its continuation by pointing to systematic repression under Cuba’s communist government.
But critics have denounced the trade embargo as worsening humanitarian conditions on the island.
The crisis reached a tipping point in January, after Trump abducted Venezuelan President Nicolas Maduro, a close ally of Cuba.
In the following weeks, Trump cut off Venezuelan funds and oil supplies to Cuba. He then threatened economic penalties against any country that supplied Cuba with fuel, implementing a de facto oil blockade on the island.
Since then, only one Russian oil tanker has reached Cuba in late March. That month alone, the island suffered two island-wide blackouts.
Cuba relies heavily on foreign imports of oil to power its ageing energy grid. Only 40 percent of its oil supply is produced domestically, according to the International Energy Agency.
The United Nations warned earlier this year that Cuba faces the possibility of humanitarian “collapse”, with public transportation grinding to a halt, food prices soaring and public services like hospitals struggling to keep the lights on.
Trump, meanwhile, has repeatedly threatened to shift his focus to Cuba after the US-Israeli war on Iran ends, saying the island is “next” on his list of countries where he would like to see regime change.
“As we achieve a historic transformation in Venezuela, we’re also looking forward to the great change that will soon be coming to Cuba,” Trump told Latin American leaders at a summit in March.
“Cuba’s in its last moments of life as it was. It’ll have a great new life, but it’s in its last moments of life the way it is.”
Earlier this month, the US president issued a fresh wave of sanctions against the Cuban government, accusing the island of posing “an unusual and extraordinary threat to US national security and foreign policy”.
Media reports have also indicated that the Trump administration has stepped up its surveillance flights around Cuba, possibly in preparation for a surge of military assets to the Caribbean.
In Wednesday’s statement, the State Department blamed the communist system for having “only served to enrich the elites and condemn the Cuban people to poverty”.
It did not mention the US role in the humanitarian crisis on the island but instead described Cuba’s government as a hurdle to delivering much-needed aid.
“The regime refuses to allow the United States to provide this assistance to the Cuban people, who are in desperate need of assistance due to the failures of Cuba’s corrupt regime,” the State Department wrote.
It added that, should Cuba accept its terms, the $100m would be distributed through the Catholic Church and “other reliable independent humanitarian organizations”, rather than through the island’s government.
Huge crowds gathered in Tehran’s Revolution Square to celebrate and send off Iran’s national football team ahead of the 2026 World Cup. The new jersey of the Iranian national team, which will be worn in the World Cup competitions, was unveiled at the event.
Published On 13 May 202613 May 2026
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