The Egyptian President is actively involved in resolving the Iran crisis, maintaining constant contact with all parties and engaging in dialogue with Russia, according to a Russian official.
President Erdoğan stated that the Iran-centered crisis has reinforced Turkey's critical role in energy supply, noting the significant global oil and LNG disruption caused by the closure of the Strait of Hormuz. He emphasized that energy security is a matter of national security and sovereignty, criticizing the opposition for focusing on internal power struggles instead of national issues.
Despite initial optimism, a US-Iran deal faces significant hurdles. Disagreements persist over the Strait of Hormuz, Iran's nuclear program, and regional partners, with both sides revealing starkly different visions for a resolution.
Russian President Vladimir Putin and King Hamad bin Isa Al Khalifa of Bahrain emphasized the need to accelerate a resolution to the Iranian crisis, considering the interests of all regional states. They also affirmed mutual determination to enhance bilateral cooperation in trade, economic, financial, investment, cultural, and humanitarian fields.
UK government announces cost of living measures like VAT cuts & free bus rides, but they fail to address energy import shocks. Rising energy bills and global crises threaten household finances, highlighting the need for faster transition to clean power and greater state-led resilience.
China may increase diplomatic efforts with the US and Iran to reopen the Strait of Hormuz, but sources indicate it's unlikely to act as a mediator in the Iran crisis, citing the need for the US and Israel to lead resolution efforts.
UK Chancellor Rachel Reeves plans to fast-track clean energy and infrastructure projects by curbing judicial reviews. The proposals aim to designate key projects as 'critical national importance' and introduce fixed legal challenge windows to speed up delivery and bolster energy security.
Rubio and Trump discuss Iran war's impact on Asia and potential Chinese mediation, with differing tones on needing China's help.
US officials Rubio and Trump discuss Iran war's impact on Asia, seek China's intervention despite Trump's assertion of US capability to 'win' with or without Chinese help.
China’s foreign minister Wang Yi on Tuesday urged Pakistan to ramp up mediation efforts in the Iran crisis, as the war threatens to overshadow US President Donald Trump’s visit to Beijing. In a call with his Pakistani counterpart Ishaq Dar, Wang lauded Pakistan’s efforts in facilitating negotiations between Washington and Tehran and helping to extend the ceasefire. But he also called for Pakistan to “step up its mediation efforts to contribute to … the opening of the Strait of Hormuz and the...
As the US-Iran has sent the world scrambling for fuel, China is positioned to benefit from its rapid shift into electric vehicles.
Brent crude hits highest level since the US and Iran first agreed a ceasefire in early AprilRetail sales rise in Britain after Iran war prompted ‘panic at the pumps’Trump says he will ‘probably put a big tariff on the UK’ if it doesn’t drop digital services taxSarah Breeden’s warning that share prices do not reflect the many risks facing the global economy may have pushed the market down this morning, suggests Russ Mould, investment director at AJ Bell.He explains:The stock market reflects what investors think will happen in the future. While markets have been wobbly since the Middle East conflict unfolded, they didn’t pull back sharply in the early stages of the crisis, and more recently they’ve shown resilience. That suggests investors are confident the war will end quickly, and elevated oil and gas prices will retreat as supply is restored.Oil prices currently trade at $105 per barrel which is higher than the sub-$70 price seen at the start of 2026, but below the $120+ level when Russia invaded Ukraine in 2022. One could argue current oil prices are high enough to cause pain for businesses and consumers as everything becomes more expensive. There are already signs it is causing problems for companies as they report cautious outlook statements.Companies are considerably more pessimistic about the coming months.The German economy is being hit hard by the Iran crisis. Continue reading...
Bank of England deputy governor Sarah Breeden has warned that global stock markets are overvalued and vulnerable to a correction. Meanwhile, the ongoing Iran conflict continues to disrupt energy supplies, fueling inflation and dampening business confidence across Europe.
Sarah Breeden explains ‘I’m not saying it will happen today, tomorrow, in 12 months’ time’, but system needs to be resilientSarah Breeden’s warning that share prices do not reflect the many risks facing the global economy may have pushed the market down this morning, suggests Russ Mould, investment director at AJ Bell.He explains:“The stock market reflects what investors think will happen in the future. While markets have been wobbly since the Middle East conflict unfolded, they didn’t pull back sharply in the early stages of the crisis, and more recently they’ve shown resilience. That suggests investors are confident the war will end quickly, and elevated oil and gas prices will retreat as supply is restored.“Oil prices currently trade at $105 per barrel which is higher than the sub-$70 price seen at the start of 2026, but below the $120+ level when Russia invaded Ukraine in 2022. One could argue current oil prices are high enough to cause pain for businesses and consumers as everything becomes more expensive. There are already signs it is causing problems for companies as they report cautious outlook statements.“Companies are considerably more pessimistic about the coming months“The German economy is being hit hard by the Iran crisis.” Continue reading...
China is actively mediating in the Iran crisis through diplomatic engagements with regional leaders, having made 26 phone calls and multiple envoy visits. The article argues China's four-point peace proposal and its economic interests in Middle East oil (49.4% of crude imports) position it uniquely to help de-escalate tensions and stabilize the Strait of Hormuz.
The Iran crisis will dominate global politics for months or years, with governments across Europe, Asia, and Africa preparing for a sustained energy shock including jet fuel shortages, food scarcity and inflation. US Republicans face political pressure ahead of November midterm elections if gasoline prices don't drop from current $4.042/gallon average. The US and Israel launched operations against Iran on February 28, with a two-week ceasefire announced April 7 and unsuccessful talks held in Islamabad on April 11.
China Meteorological Administration forecasts moderate-to-strong El Nino to emerge globally in May 2026 and develop throughout the year. The climate phenomenon, occurring every two to seven years, threatens hydropower-dependent regions with droughts or flooding, potentially forcing power stations to reduce output and increasing reliance on oil and gas.
