Israeli Prime Minister Benjamin Netanyahu’s hopes of clinging to power in an election this autumn have long been shaky, but the interim U.S. deal with Iran has added yet another complication.
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Its relative success is not a straightforward story about Brexit, however.
Europe’s quest for technological sovereignty will dominate discussions at the G7 in France and the VivaTech conference in Paris this week, as policymakers and technology executives fret about American AI, with alternatives remaining scarce.
The leaders said they were ready to contribute to the implementation of the accord.
The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.
Britain’s former health minister, Wes Streeting, said he would be prepared to trigger a Labour leadership contest to replace Keir Starmer as prime minister as soon as next week, urging a speedy end to the “uncertainty and paralysis”.
Shortly after the U.S. and Israel launched airstrikes on Iran on February 28, U.S. President Donald Trump laid out a host of objectives, from destroying Iran’s ballistic missile capabilities to ensuring Tehran can never have a nuclear weapon.
Thousands of British companies have been forced to find ways to compensate for the loss of free access to their main foreign market, with food producers among the hardest hit.
Europe’s natural gas market has passed the Hormuz stress test — at least so far. A U.S.-Iran peace deal suggests the worst of the shock may be over, even if flows recover only gradually. That should temper supply fears and shift attention to the demand pressures likely to shape the market in coming decades.
Rising inflation and a 30% jump in oil prices are dampening global growth, but leaders of the world’s top economies are unlikely to blame U.S. President Donald Trump for the war-driven slowdown when they meet in France to discuss the economy on Wednesday.