News
Finland, Sweden another step closer to full NATO membership
Finland and Sweden are a step closer to full NATO membership after all thirty NATO allies signed an accession protocol.
It will be NATO’s biggest expansion in decades – but it likely won’t happen in full for at least a year.
NATO allies signed an accession protocol for Finland and Sweden to join the military alliance in Brussels on Tuesday (July 5).
Ankara had previously threatened to scupper their chances of joining.
Both Nordic countries gave assurances to Turkey in response that they would do more to fight terrorism – and Turkey backed down.
NATO Secretary General Jens Stoltenberg hailed the historic move,
This is truly an historic moment […] with 32 nations around the table, we will be even stronger.
JENS StOLTENBERG, NATO SECRETARY GENERAL
This protocol allows Helsinki and Stockholm to take part in NATO meetings, and have greater access to intelligence.
But the ratification process can take up to a year or more.
Neither country will be protected by NATO’s defence clause – where an attack on one is considered an attack on all during that time.
Meanwhile, Russia’s Duma announced two bills that would put Russia onto a more aggressive wartime economy.
The first bill would allow Russia’s government to demand businesses supply the military with goods.
The second bill would oblige employees to be available to work overtime, nights, and forego additional pay in support of Russia’s invasion of Ukraine.
The bills need a second and third reading, approval by Russia’s upper house, and be signed by Vladimir Putin before they would become law
What’s happening in the Middle East?
- Trump says U.S. strikes could last four to five weeks and described the operation as the last best chance to act, while Secretary of State Marco Rubio warns the hardest hits are yet to come
- Six U.S. service members have been killed, additional American forces are being deployed to the region, and the White House says nine Iranian naval ships have been destroyed
- Iran says it sees no limit to its right to self defence and will not negotiate, as missile and drone attacks continue across Israel, Lebanon and Gulf states
- More than 500 Iranians have been killed in U.S. and Israeli strikes, with further deaths reported in Lebanon, Israel and the UAE
- Shipping, aviation and energy markets have been severely disrupted, more than 11,000 flights have been cancelled, Gulf stock markets have closed temporarily, and oil and gas prices have surged amid Strait of Hormuz fears
News
Oil prices surge amid rising Middle East conflict risks
Crude oil surges 7% amid fears of Middle East conflict; Strait of Hormuz disruptions may push Brent over $100.
Crude oil surges 7% amid fears of Middle East conflict; Strait of Hormuz disruptions may push Brent over $100.
Crude oil prices spiked dramatically as investors react to the growing risk of a wider conflict in the Middle East. U.S. crude surged 7.2 percent, trading near $71.84 a barrel, signalling heightened concern across energy markets.
The Strait of Hormuz, a critical shipping chokepoint, has come under intense scrutiny. Rising war-risk insurance premiums and suspended tanker traffic are already slowing the movement of oil, creating ripple effects in global supply chains.
JPMorgan has warned that prolonged disruptions over three weeks could force Gulf producers to reduce output, potentially pushing Brent crude prices to between $100 and $120 a barrel. Markets are closely watching for developments that could reshape global energy pricing.
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News
Trump warns of last opportunity to hit Iran as conflict escalates
Trump declares final chance to strike Iran, aiming to dismantle missile systems and prevent nuclear weapons amid U.S. troop losses.
Trump declares final chance to strike Iran, aiming to dismantle missile systems and prevent nuclear weapons amid U.S. troop losses.
President Trump has declared this is the final opportunity to strike Iran as conflict intensifies across the Middle East, outlining four key military objectives including dismantling Iran’s missile capabilities and targeting its navy.
The U.S. says its mission is to prevent Iran from acquiring a nuclear weapon and to halt its alleged support for terrorist groups abroad, signalling a potentially prolonged campaign in the region.
Four U.S. troops have already been killed, with officials warning further casualties are possible as operations continue.
#Trump #Iran #MiddleEast
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