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UK defense officials reported that Russian fighter jets intercepted British RAF reconnaissance aircraft over the Black Sea in April, with one jet flying as close as six meters and another triggering emergency systems. Defense Secretary John Healey condemned the actions as 'dangerous and unacceptable,' and separately, an RAF jet carrying Healey was reportedly jammed after flying near Russia.
South Korean stocks rallied sharply on May 21, with the KOSPI jumping 8.42 percent, as Samsung Electronics averted a strike and Nvidia's strong earnings boosted tech sentiment. The market also drew support from hopes of a U.S.-Iran peace deal, though gains were tempered in subsequent sessions by profit-taking and renewed geopolitical tensions.
US President Donald Trump said negotiations with Iran are nearing a conclusion, warning of possible further strikes while a fragile ceasefire continues. The war, which began with US-Israeli strikes nearly three months ago, has spread across the Middle East, causing thousands of deaths and disrupting supply chains.
US President Donald Trump has said he is willing to give diplomacy a few more days to reach an agreement with Iran before resuming military strikes. He cited requests from Qatar, the UAE, and Saudi Arabia for postponing hostilities and reiterated he will not offer sanctions relief until a peace deal is signed.
As fertiliser supply chains tighten and prices surge due to the blocked Strait of Hormuz, Australia faces its third fertiliser shortage in recent years. With nearly all nitrogen fertiliser imported, farmers and researchers are exploring alternatives, from organic farming methods to green ammonia produced with renewable energy.
Iran's Islamic Revolutionary Guard Corps has threatened to expand the conflict beyond the Middle East if the US and Israel launch new attacks. The warning follows US President Donald Trump's mixed signals on negotiations, and comes amid ongoing diplomatic efforts mediated by Pakistan.
Russian President Vladimir Putin and Chinese President Xi Jinping signed a joint declaration on building a multipolar world and a new type of international relations after their summit in Beijing. The two leaders also condemned the US Golden Dome missile defense system, signed a series of agreements, and stressed the strength of their strategic partnership on its 30th anniversary.
The UK government has announced it will scrap planned fuel duty increases and extend the current freeze, alongside other measures to ease cost-of-living pressures. Prime Minister Keir Starmer confirmed a 12-month vehicle tax holiday for hauliers, while Chancellor Rachel Reeves is set to unveil additional support including VAT cuts on summer attractions and food tariff suspensions.
Russian President Vladimir Putin's official visit to China underscored the strategic stability and unprecedented level of Russia-China relations, with both sides pledging closer coordination on international platforms and continued cooperation in various sectors including energy and trade. The joint statement following the talks covered bilateral relations, opposition to unilateral sanctions, and simplification of visa formalities.
Israeli naval forces intercepted Gaza-bound flotilla vessels, detaining 430 activists and sparking international controversy. Activists allege abuse in detention, while Israeli officials dismiss the flotilla as a PR stunt. A separate incident saw Spanish police clash with returning activists at Bilbao Airport.
The Federal Service for Military-Technical Cooperation (FSMTC) stated that Russian air defense systems are generating strong interest among foreign partners, driven by the special military operation in Ukraine and the situation in the Middle East. The service also highlighted ongoing negotiations on joint aircraft development, including fifth-generation aircraft, and the demonstrated reliability of Russian military products in the Middle East conflict.
South Korean stocks closed lower for a second consecutive session on Wednesday, with the KOSPI dropping 0.86 percent as foreign investors continued their selling spree, while the Korean won gained against the U.S. dollar. The decline was attributed to rising U.S. Treasury yields and inflation concerns, according to Yonhap.
South Korea's car exports fell more than 5% in April, driven by a 38.7% drop in shipments to the Middle East amid the U.S.-Iran war. Meanwhile, domestic EV sales surged 139.7%, boosted by higher oil prices and new policies, with Tesla sales skyrocketing 811.5%.
South Korea's finance ministry announced measures to stabilize consumer prices, which rose 2.6% in April, as the Middle East conflict disrupts supply chains. The government plans emergency tariff-rate quotas, seafood stockpile releases, and maintains an emergency response system. Despite strong exports and economic growth, officials acknowledge growing inflationary pressures.
US Treasury Secretary Scott Bessent called on allies to intensify efforts against Iran's financing networks and announced a review of US sanctions designations. The appeal came as G7 finance ministers gathered in Paris amid global economic uncertainty.
The National Assembly was adjourned for lack of quorum, drawing criticism from within the ruling coalition. Separately, the government denied reports of mass deportations of Pakistanis from the UAE, providing figures of deportations from Gulf countries over five years.
Thailand's cabinet has approved reducing visa-free stays for tourists from over 90 countries from 60 days to 30 days, with some nationalities limited to 15 days, citing security concerns and misuse of the visa system. The policy, which reverts to a tiered system, will take effect 15 days after publication in the Royal Gazette. Tourism accounts for more than 10% of Thailand's GDP, and the decision follows high-profile arrests of foreigners involved in crime.
Somaliland has announced it will open its embassy in Jerusalem, while Israel will establish a diplomatic mission in Hargeisa, according to the newly appointed ambassador Dr. Mohamed Hagi. The announcement builds on Israel's formal recognition of Somaliland in December 2025, deepening ties between the two territories amid regional concern.
Russian President Vladimir Putin has arrived in Beijing for a two-day visit with Chinese leader Xi Jinping aimed at strengthening economic and strategic ties. The visit comes days after US President Donald Trump's own trip to Beijing, highlighting China's growing diplomatic centrality. Observers note that while Russia and China celebrated 25 years of friendship, concrete gains for Moscow, particularly on a major gas pipeline deal, remained limited.
President Trump has warned Iran to accept a deal to end the Middle East war or face renewed bombing, while reports suggest talks are at a critical juncture. The ceasefire is described as on 'life support,' and both sides remain entrenched, with Iran seeking to end hostilities and reject nuclear dismantlement.