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Senate Democrats on Tuesday blocked debate on the annual National Defense Authorization Act, citing objections to President Trump's war in Iran and provisions deepening US-Israeli military cooperation. The procedural vote failed 50-46, short of the 60 votes needed to advance, marking a rare setback for a must-pass bill.
South Korean stocks extended gains Wednesday morning, with the KOSPI climbing more than 6% to above 7,300, buoyed by a Wall Street rally fueled by cooling U.S. inflation and President Trump's decision to drop a proposed fee on Strait of Hormuz cargo.
US President Donald Trump threatened to escalate strikes against Iran, targeting power plants and bridges next week unless Tehran negotiates. US forces have carried out strikes for a fourth day and reimposed a naval blockade, while tensions spread across the region.
The US Treasury Department has issued a general license for limited wind-down activities in the Strait of Hormuz while simultaneously imposing new sanctions on individuals, ships, and entities linked to Iran. The move follows the revocation of a license that had authorized Iranian oil sales, amid attacks on tankers in the strategic waterway.
The US and Iran exchanged fresh military strikes over the Strait of Hormuz, with Washington targeting Iranian provinces and Tehran hitting Gulf states and shipping. The escalation has undermined the June 17 memorandum of understanding, while oil markets reacted with a 3.5% price rise.
US President Donald Trump hosted Iraqi Prime Minister Ali al-Zaidi at the White House, pledging a 'massive' oil partnership and deeper economic ties as both nations prepare for a complete US troop withdrawal by September 30. Al-Zaidi described the relationship as shifting from militaristic to economic, vowing to disarm armed factions. Analysts highlight Washington's financial leverage over Baghdad in al-Zaidi's rise.
President Donald Trump has abandoned his proposal to impose a 20 percent 'reimbursement' fee on cargo shipped through the Strait of Hormuz, instead seeking trade and investment deals with Gulf states. The U.S. naval blockade of Iranian ports has resumed, according to reports from Yonhap News Agency.
US President Donald Trump has abandoned a proposed 20% fee on ships passing through the Strait of Hormuz, instead opting for trade and investment deals with Gulf states. The decision follows 'highly productive conversations' with Middle East leadership, according to Trump.
US President Donald Trump has abandoned his proposal to charge a 20% fee on cargo shipping through the Strait of Hormuz, saying he will instead pursue trade and investment agreements with Gulf states. The reversal came hours before the US naval blockade of Iranian ports was set to take effect, as US and Iranian forces continued to trade strikes across the region.
Germany has seen a sharp rise in applications for conscientious objector status in the first half of 2026, coinciding with new military screening measures. The government has also passed bills to expand the army reserve and accelerate military construction, aiming for a larger active-duty force.
Indian activist Sonam Wangchuk ended his 26-day hunger strike over leaked medical entrance exam papers, with protests continuing to demand the education minister's resignation. The leaks affected about 2 million students and have triggered nationwide demonstrations, representing a significant youth challenge to Prime Minister Modi's government.
President Donald Trump has proposed that the US take over the Strait of Hormuz and charge a 20% toll on cargo, a plan that has drawn expert skepticism and criticism from Brazilian President Lula, who called it 'piracy'.
India has summoned Iran's deputy envoy in New Delhi to protest attacks on two tankers in the Strait of Hormuz, which killed an Indian national and injured 10 others. New Zealand also summoned Iran's ambassador, urging de-escalation. India called for an immediate halt to violence and a return to dialogue.
The Pakistan Stock Exchange's benchmark KSE-100 index lost over 6,400 points on Tuesday as equities experienced a massive sell-off, driven by renewed fighting between the United States and Iran. Global oil prices surged to their highest in four weeks, with Brent crude up 3.47% and US WTI crude also rising. Analysts attribute the decline to geopolitical instability, including the US reimposing a naval blockade on Iran and increased attacks in the Strait of Hormuz.
Russian Foreign Minister Sergey Lavrov said the resumption of US strikes on Iran violates the memorandum of understanding between Washington and Tehran, warning that it closes the door to a peaceful resolution. Lavrov also noted that Israel and President Trump no longer recognize the memorandum, as regional security remains fragile.
Lebanon and Israel have resumed talks in Rome, mediated by the US, aiming to implement a framework agreement that calls for the phased withdrawal of Israeli forces from southern Lebanon and the disarmament of Hezbollah. Hezbollah has rejected the deal, while expectations for rapid progress remain low amidst ongoing regional tensions.
A 26-year-old Colombian man was fatally shot by an ICE agent in Biddeford, Maine, marking at least the ninth death linked to federal immigration enforcement under the Trump administration. Witnesses dispute official accounts, and the FBI is investigating.
The United States has carried out a third consecutive night of strikes against Iran and announced the reimposition of a naval blockade on Iranian ports, with President Trump threatening further escalation. The UAE reported that two of its oil tankers were hit by Iranian cruise missiles in the Strait of Hormuz, killing one crew member. Meanwhile, Iran's Revolutionary Guards accused the US of jeopardising global oil and gas supplies.
President Trump announced the reinstatement of a blockade on Iran in the Strait of Hormuz, imposing a 20% toll on eligible cargo, but reversed the toll the next day. The move highlights the fragile ceasefire and the strategic importance of the waterway, with Iran and the US at odds over control.
Seoul shares closed higher Tuesday, led by a rebound in technology heavyweights, despite ongoing concerns over Middle East tensions and AI sector uncertainty. The KOSPI rose 0.73% to 6,856.83, while the Korean won strengthened. Bond yields climbed as prices fell.