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The Latest Breaking News from G7

Newsletter: EU ministers to mull bolstering naval mission under US pressure

Also in this newsletter: Belgian Prime Ministers calls on Europe to cut deal with Russia on war in Ukraine, and EU diplomats expect tensions over the closed Druzhba pipeline to play out until after April's Hungarian elections.

Euronews

Trump told G7 leaders Iran was ready to surrender. Iran’s new supreme leader has a very different message

This ain’t going as he had hoped.

We Got This Covered

US offers up to $10m for info on Mojtaba Khamenei and other key Iran leaders; offers relocation

The US State Department has announced a $10 million reward for information on Iran's new supreme leader, Mojtaba Khamenei, and other senior officials. This follows recent retaliatory strikes and escalating regional tensions. President Trump, meanwhile, claimed Iran is nearing surrender and vowed to militarily dismantle its leadership, calling them "deranged…

The Times of India

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read the most diverse news in one place.

EU pushes back on US decision to ease sanctions on Russian oil stranded at sea

The Trump administration's decision to allow the purchase of Russian oil stranded at sea was met with criticism in the EU, with Merz and Costa claiming the move undermines support for Ukraine at critical moment.

Euronews

Trump Reportedly Told G7 Leaders That Iran Is 'About To Surrender' Even As Its Leadership Vows To Fight On

President Donald Trump told G7 leaders on Wednesday that Iran is "about to surrender," even as its leadership vows to fight on and released a letter attributed to the new supreme leader supporting that path.

Latin Times

'About to surrender': Trump makes big claim on Iran, says US 'got rid of a cancer threatening us all'

US President Trump claimed that Iran is "about to surrender" during a G7 call earlier this week, while describing Iran regime as removing a "cancer." Amidst escalating regional strikes, Iran reportedly targeted the USS Abraham Lincoln, though the US denied the incident. CENTCOM confirmed the carrier strike group's ongoing support…

The Times of India

Scoop: Trump claimed in G7 call that Iran is "about to surrender"

24 hours later, Iran's new supreme leader vowed to keep fighting.

Axios

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As Europe imports no Iranian oil, how does the conflict in Iran impact trade?

Tensions in the Middle East have threatened to drive up inflation and energy costs despite the EU having little direct trade with Tehran.

Euronews

Fossil fuel giants are ‘cashing in’ on the Iran war. Is it time for a tax on windfall profits?

As Europeans brace for higher oil and gas prices, G7 nations are being urged to tax fossil fuel giants profiting from the war on Iran.

Euronews

Antibiotics need coordinated G7 investment

Letter: Grace Hampson on ways to address the worryingly thin pipeline of new effective drugs

The Guardian - UK

Iran strikes neutralise record IEA reserves release as oil tops $100

Oil spiked above $100 a barrel on Thursday following fresh Iranian attacks on Omani oil storage facilities, reversing any downward pressure from the IEA's record release of 400mn barrels announced the previous day.

Euronews

Iran escalation risks 'stagflation shock' for Europe, Commissioner Dombrovskis tells Euronews

EU economy chief says intensity and duration of the Iran war will define fallout of the crisis on Europe as global coalition agrees to the biggest release of oil reserves in history to stabilise energy market.

Euronews

Trump's Iran war whiplash clouds U.S. endgame

"We don't want to leave early, do we? We gotta finish the job, right?"

Axios

Newsletter: Oil prices spiral despite historic reserve release

Also in this newsletter: European Commissioner for the Economy Valdis Dombrovskis tells Europe Today that a prolonged and escalating war in the Middle East could mean a 'stagflationary shock' for Europe.

Euronews

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The Independent UK

Largest ever oil reserves released as Iran war fuels price rises

The Middle East conflict has seen oil prices surge as the flow of oil tankers has effectively stopped

Pedestrian.tv

Australian Petrol Prices Set To Skyrocket After Strikes In Strait Of Hormuz

Australians are being warned to brace for higher petrol prices as attacks on ships in the Strait of Hormuz choke global oil supplies.

Euronews

France's Macron opposed to lifting sanctions against Russia

French President Emmanuel Macron also said he had "no confirmation" Iran was laying sea mines in the Strait of Hormuz.

Radio France Internationale

France backs emergency release of oil reserves as supply fears grow

France, which holds the G7 presidency, said Wednesday that major economies were ready to act to stabilise oil markets as the US-Israeli war with Iran enters its second week and disrupts supply.

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news in one place.

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Barchart

Dollar Mildly Higher as T-note Yield Rises

The dollar index (DXY00 ) is up +0.17% on support from today's +4.7 bp rise in the 10-year T-note yield, which supported the dollar's interest rate differentials. Also, today's +4% rally in WTI crude oil prices is hawkish for Fed policy and supportive of the dollar. Today's US CPI report...

The Independent UK

Largest-ever emergency oil release approved to address Iran war crisis and global supply fears

It’s a larger stock than the 182.7 million barrels that were released in 2022 in response to Russia’s full-scale invasion of Ukraine

Euronews

IEA approves largest-ever oil reserve release of 400m barrels amid Iran crisis

The 32-member International Energy Agency has unanimously agreed to release 400 million oil barrels from its global strategic reserves in an attempt to prevent supply disruptions and ease market fears caused by Iran war shortages.

The Independent UK

Rachel Reeves admits Middle East conflict ‘certainly not good’ for economy

The Chancellor indicated the government could intervene on energy costs if the conflict spiralled

Evening Standard

Trade disruption from Iran war ‘not good for the British economy’, Reeves says

The Chancellor called for rapid de-escalation of the conflict to protect the UK economy.

The Guardian - UK

IEA orders largest ever release of stockpiled oil to reduce crude price

Members agree unanimously to release about 400m barrels amid market volatility caused by Iran war

Euronews

Energy Commissioner teases 'more measures' as prices soar on Iran war

EU energy chief says the executive can do more to abate prices while calling on member states to cut taxes on electricity immediately. Oil and gas prices have soared as a result of the war in Iran and its retaliation on the Gulf countries, halting the flow of energy along…

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