Iran War Escalation: Hormuz Stalemate and Global Economic Shocks
Iran War Ceasefire on ‘Life Support’
US President Donald Trump has declared that a proposed ceasefire with Iran is on “massive life support” after Tehran’s response was rejected as unacceptable. Tensions in the Strait of Hormuz continue to escalate as Iran deploys mini-subs to contest control of the vital waterway.
Source: AP News
Asia Braces for Energy Shocks
From India to Thailand, Asian nations are bracing for a second wave of energy shocks as the conflict drags on. India’s PM Modi has urged citizens to work from home and avoid foreign travel to conserve resources, while natural rubber and fuel prices soar across the continent.
Source: Nikkei Asia
South Africa Political Turmoil: Ramaphosa Refuses to Resign
President Cyril Ramaphosa has vowed to stay in office despite mounting calls for his resignation following a Constitutional Court ruling on impeachment proceedings related to the ‘cash-in-sofa’ scandal. The move has sparked fears of prolonged political instability in the region.
Source: BBC News
Middle East: Israeli Attacks Escalate in Lebanon
Despite official ceasefire efforts, Israeli strikes have killed at least four people in southern Lebanon. The intensification of attacks on both sides fuels concerns that the pretence of a ceasefire has completely collapsed.
Source: Al Jazeera