War in Iran has escalated again after the US abated its airstrikes to attempt a negotiation. Multiple Israeli and US airstrikes were carried out on Tehran and other cities. The Revolutionary Guard is still launching missiles at the Gulf states and the Israeli government admitted that the Iranian regime has the capability to sustain its missile launches in the weeks to come.
Negotiations between the US and Iran have failed and the Islamic Republican Guard have vowed to continue the war – they are still firmly in charge of the country. On his way to the G7 meeting, US State Secretary Rubio said that the Iranian regime wants to impose tolls on Strait of Hormuz and called on the US allies to help the US to address this situation. The IRGC also struck a Pakistani-flagged vessel in the Strait of Hormuz as the battle for the strait remains ongoing.
Meanwhile, Israel has also announced its plans to occupy the south of Lebanon. Some press outlets also report a potential and imminent US ground troop invasion of Iran. Previously, President Trump threatened Iran with bombing its power plants. It has also been confirmed by the Iranian state news agency that Israel struck the Iranian civilian nuclear site of Ardakan, in the Yazd province.
German Chancellor Friedrich Merz said that Israel and the US have no end strategy for this war as an exit to this conflict seems uncertain and unclear. The EU and European leaders are still calling for de-escalation.
Oil (WTI) is at $97.34 as of writing. US stock markets have slumped by the end of the week to a yearly low and US Treasury yield on long-dated treasuries are increasing by more than 4.5%. The Euro is at $1.15.
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