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Middle East Crisis  Reactions
US Senate votes against limiting Trump's military power

The US Senate has voted down a proposal to stop the Trump administration from continuing attacks on Iran without congressional authorization, US media reports.

The 53 Republican senators voted no, while the 45 Democrats and two independents voted yes.

- Voting through this resolution now would send the wrong message to Iran and our military. Right now, it is of utmost importance to show unequivocal support for our soldiers, says Republican Susan Collins according to The Hill.

Democratic Minority Leader Chuck Schumer said before the vote that the Senate was facing a crossroads, according to the AP.

- Do you support the American people, who are exhausted by perpetual war in the Middle East, or do you support Donald Trump and Pete Hegseth as they recklessly throw us into a new war?

Climate Threat  Global Challenges
New Study: Sea Levels Are Much Higher Than Thought 

A new study shows that sea levels may have been vastly underestimated due to poor measurements, reports The Guardian.

According to the study, global sea levels are on average 30 centimeters higher than previously thought, and in parts of Southeast Asia and the Indo-Pacific region they may be up to 100–150 centimeters higher.

The researchers examined 385 previous studies and found that 90 percent used measurement methods that underestimated sea levels. The new, more accurate results mean that tens of millions more people are threatened by sea level rises than previously known, writes AP.
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Spain denies US military cooperation claims

Isak Fritzon

Updated 22.42 | Published 22.16

 

             

             Spanish Foreign Minister José Manuel Albares. Photo: Geert Vanden Wijngaert/AP

The US claims that Spain is now cooperating militarily in the war against Iran.

But the country is hitting back at the White House.

– The Spanish government's position has not changed one bit, says Foreign Minister José Manuel Albares.
 

Quick version

• The White House claims that Spain is cooperating militarily with the US in the war against Iran.
• The Spanish government categorically denies any military cooperation with the US in the Middle East.
• Spanish Prime Minister Pedro Sánchez emphasizes the country's opposition to war and rejects any form of military involvement in Iran.

The White House stated on Wednesday that Spain has agreed to let the 

US

 use Spanish military bases in the war against 

Iran.

US President

 Donald Trump

has previously threatened Spain with economic sanctions if the country does not help the US military.

– I think they heard the president's message loud and clear yesterday. And my understanding is that in the last few hours they have agreed to cooperate with the US military, said White House press secretary Karoline Leavitt during a press conference on Wednesday.

But now the Spanish government is denying the information. Foreign Minister José Manuel Albares says that he "categorically" rejects that Spain is participating in any military cooperation in the 

Midlel East.

– The Spanish government's position on the war in the Middle East and the bombings in Iran, regarding the use of our bases, has not changed one bit, said Spanish Foreign Minister José Manuel Albares in an interview with the 

Cadena SER

 radio channel.

 

Martin/AP

Donald Trump Foto: Jacquelyn Martin/AP

"No to war"

On Tuesday, Donald Trump threatened to stop all trade with Spain. He called the country's opposition to the war "terrible."

- We will stop all trade with Spain. We want nothing to do with Spain, said the US president.

On Wednesday morning, Spanish Prime Minister Pedro Sánchez summed up the country's stance on the conflict in the Middle East in three words:

- No to war, he said, reports 

El Paìs.

- The world has been here before. 23 years ago, another American administration dragged us into an unjust war. The Iraq war led to a sharp increase in terrorism and a serious migration and economic crisis.

 

 

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Economy

Gas prices
Putin: Considering stopping gas supplies to Europe

Russia may stop supplying gas to Europe and instead focus on more promising and open markets. This is what President Vladimir Putin says on Russian state television, according to Reuters.

– But this is not a decision, in this case it is what is called thinking out loud, he says and continues:

– I will definitely instruct the government to work further on the issue together with our companies.

On Monday, European natural gas prices surged by up to 50 percent after Qatar's state-owned company announced that it would stop production.

Crypto market
Trump boosts crypto sector with post on Truth Social

Crypto companies rose after Donald Trump expressed support for a bill to regulate the crypto market and criticized US banks on the issue of interest-bearing stablecoins. This is reported by CNBC.

“They need to reach a good deal with the crypto industry because it is in the interest of the American people,” the president wrote on Truth Social on Tuesday evening.

By the close of trading on Wall Street, the price of bitcoin and ethereum had risen sharply, while crypto companies Coinbase and Strategy surged 14.6 and 10.4 percent, respectively, on Wall Street.

Musk's space ventures
Analyst: Space X could be like Tesla on steroids

Elon Musk's space company Space X is reportedly aiming for a valuation of around $1.75 trillion when it goes public later this year. That's a perfectly reasonable valuation for long-term investors, according to Pitchbook analyst Franco Granda.

- The combination of Starlink's user growth, the dominant position in launches and the expansion of direct-to-mobile networks is not found anywhere else in the public markets, he tells Bloomberg.

However, Granda warns that anyone who buys in should be prepared for some "Musk-enhanced volatility" and warns that it will be like "Tesla on steroids."

 

Middle East Crisis Iran War

US and Israel Continue Attacks – May Soon Run Out of Missiles

US and Israeli attacks on Iran continued unabated on Wednesday, and both countries are clear that it is far from over. This is reported by several media outlets.

The Israeli military stated this afternoon that they had bombed a building that housed “the headquarters of all Iranian security services”, including the Revolutionary Guard, the elite Quds Force and the Basij militia. Later in the evening they said that they had launched a new wave of attacks against Iranian regime targets.

The US states that Iran is now firing 86 percent fewer ballistic missiles and 73 percent fewer drones than on Saturday when the war began, and that they expect total air dominance within a few days. There are currently no plans for ground forces.

Washington Post sources say the US is getting rid of so many missiles that they may have to start prioritizing targets to attack within days.

Tens of thousands flee and 72 dead in Israeli attacks in Lebanon

Once again, villages in southern Lebanon are being emptied as the population flees north to escape Israeli attacks, reports L’Orient Today.

72 people have been killed since Monday, according to Lebanese authorities quoted by AFP. 437 have been injured and over 83,000 have fled after evacuation orders from Israel.

– There is chaos and panic in Lebanon over where this conflict is heading, says Al Jazeera’s Zeina Khodr from a Beirut where fighter jets and drones constantly cross the sky.

Israel has also launched a ground invasion and says it wants to create a buffer zone closest to the border to protect its population from Hezbollah’s shelling.

The terrorist group confirms that it has attacked Israeli army posts and participated in direct fighting, writes Al Jazeera.

Power outages throughout Iraq – US urges citizens to leave the country

There are power outages throughout Iraq, the country's energy ministry said according to AFP. Authorities are troubleshooting and have begun restoring parts of the power system.

At the same time, explosions are heard in Erbil, and Iraqi security sources say that several drones have been shot down near Baghdad airport. The US embassy urges American citizens to leave the country due to the security situation.

Since the start of the Iran war, Iran has carried out several attacks against US-led coalition forces and exiled Iraqi Kurds in Iraq. 

Middle East Crisis Opinions on

Analysis: Saudi Arabia will be the only winner of the war

The Iran war is fundamentally changing the balance of power in the Gulf, several analysts write.

All Gulf countries have been attacked by Iran, primarily the United Arab Emirates, which has good relations with both Israel and the US, writes Johan Mathias Sommarström in an analysis in Aftonbladet. Civilian targets have also been bombed. The countries have in one fell swoop lost their image as safe and stable in an unstable region.

“A weakened and ostracized Iran paves the way for Crown Prince Mohammed bin Salman to take the grip on the region that Saudi Arabia has long yearned for,” writes Sommarström.

All countries in the region will be forced to reevaluate their economic and security strategies, according to Allison Minor at the Atlantic Council think tank. She writes:

“Iran’s attacks, combined with expectations of a longer period of instability, have increased the perceived risks of hosting US bases at a time when Gulf countries are also questioning what they really gain from the bases.”

Analysis: Sanchez makes Trump a springboard in difficult domestic opinion

Spain’s socialist Prime Minister Pedro Sanchez is standing up to Donald Trump not only out of conviction – but also because it benefits him domestically at a much-needed moment. Several analysts write this.

Jason Horowitz writes in the New York Times about how Spain’s criticism of the US attack on Iran is just the latest in a series of markings that “position Sanchez as the leader of the European left’s resistance to Trump.”

Opinion polls show that Sanchez has more than half the population against him, he writes. But another poll cited by Politico shows that three out of four Spaniards think “very badly” of Trump, and eight out of ten believe he is a threat to world peace. BBC Mundo’s Alicia Hernandez writes that Spanish public opinion is generally against war, regardless of political affiliation.

“Sanchez’s anti-Trump stances give his Socialist Party a chance to strengthen its voter base and fend off challenges from rivals further to the left,” writes Aitor Hernández-Morales in an analysis in Politico.

Middle East crisis Reactions

Iranian threat: “All Israeli embassies are legitimate targets”

Iran is threatening to attack Israeli embassies around the world, reports AFP. This comes after Israel threatened to strike the Iranian embassy in Lebanon.

– In that case, all Israeli embassies will become legitimate targets, says Iranian army spokesman Abolfazl Shekarchi to the semi-official Tasnim news agency, according to AFP.

According to Shekarchi, an Israeli attack on an Iranian embassy would require a counterattack, writes the Jerusalem Post.

Qatar to Iran: “Stop dragging us into your war”

Qatar’s Prime Minister Mohammed bin Abdulrahman al-Thani has spoken by phone with Iranian Foreign Minister Abbas Araghchi, news agencies report.

The Qatari leader called on Iran to immediately cease its attacks on the country and stop “harming its neighbors and dragging them into a war that is not theirs.”

Araghchi claimed that Iran had only attacked American interests in Qatar, which al-Thani “categorically denies.” Iranian attacks have targeted civilian targets and homes in Qatar, he says.

Iranian President Masoud Pezeshkian addresses neighboring countries in a post on X, where he writes that the attacks by the United States and Israel “left us no choice but to defend ourselves.”

“We respect your sovereignty,” he continues.

 

  

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Economy

Gold price
Gold up after yesterday's steep decline

Gold is bouncing back after reaching its lowest level in over a week on Tuesday.

Tuesday's decline was due, among other things, to a stronger dollar and poorer prospects for an interest rate cut from the Fed, where the Middle East conflict risks pushing up inflation.

At the same time, the gold price has been decoupled from traditional price factors such as the dollar and interest rates since the beginning of the year, Ilya Spivak, macro manager at Tastylive, told Reuters, and sees potential for continued growth.

So does Christopher Wong, strategist at OCBC.

- The underlying fundamentals have not changed to any significant degree. Structural drivers such as geopolitical uncertainty, political unpredictability and the need for portfolio diversification remain.

Gold fell 4 percent on Tuesday but is up 1.5 percent on Wednesday morning.

Seoul trading halted after biggest plunge since 2008

The war in Iran has shaken investors' view of emerging markets. Stock markets and currencies are falling as higher oil prices and a stronger dollar squeeze oil importers while capital flows out of the region.

“The resilience of emerging markets is now being tested, and this is where we could see the biggest impact after a very strong start to the year,” said Sonal Desai, chief investment officer for fixed income at Franklin Templeton.

Investors are rotating towards oil exporters while countries such as South Korea and India are seen as particularly vulnerable.

Middle East Crisis Gas Prices

Sources: Qatar to Shut Off Gas for at Least a Month

Qatar will shut down its gas pipeline completely on Wednesday. The country will not return to normal production and export levels for at least a month, two sources told Reuters.

According to the sources, Ras Laffan – Qatar’s main gas distillation and refining facility – will not be able to restart for two weeks once it is shut down. Once production restarts, it will take another two weeks to reach full capacity.

The Qatar Gas Crisis — The Case

• Gas prices in Europe rose sharply on Monday after Iranian attacks on Qatar’s main LNG facilities and halted production, according to AFP and Bloomberg.
• This week, the price of European natural gas rose by up to 50 percent in two days, reaching 65 euros per megawatt hour, CNBC and Norwegian DN reported.
• Trade through the Strait of Hormuz came to a near standstill, increasing the risk of disruptions to LNG supplies to Europe, according to Bloomberg and DI.
• Europe's gas stocks were unusually low heading into the summer, making the region particularly vulnerable to supply disruptions, according to Bloomberg and SEB.  

Middle East crisis Swedish reactions

"Slows down the Swedish economy - may have some inflationary impact"

The effects of the war on the Swedish economy are so far quite small. Among the effects so far, it is noticeable that the decline in the electricity futures market does not look to be as severe as before the outbreak of the war. The impact on the price of gasoline is limited. This is what Riksbank Governor Erik Thedéen told TT after a hearing in the Riksdag.

Inevitably, rising oil and gas prices will still be felt by those who heat their houses or fill up their cars.

- It will have a dampening effect on the Swedish economy and it could have some effect on inflation, he says.

Swedish crisis preparedness
Riksbank: Keep 1,000 kronor in cash at home

It is time for Swedes to stretch their coffers at home with physical kronor and banknotes. This is what the Riksbank believes, which is tightening its recommendations for Swedish households.

Swedes are now recommended to have 1,000 kronor available at home, an amount that should cover a week's worth of essential goods and that can be varied depending on the number of family members.

In addition to cash, you should reduce your own vulnerability by making sure to have physical payment cards, preferably from several suppliers, and connecting Swish to your mobile phone.

The Riksbank also urges the public to use cash at regular intervals. 

Swedish growth
Economists: The tense situation can pressure Swedish growth

The Iran war could affect the Swedish economy in the long term if private individuals and companies become increasingly cautious and energy prices rise. This is what Robert Bergqvist, senior economist at SEB, tells Expressen.

- It is clear that it is stressing the Riksbank. It has not been very long since we had this inflation shock and many are afraid that this will push it back, he says.

Although forecasts point to Swedish inflation continuing to decline, Bergqvist does not want to draw too quick conclusions about the strength of Sweden's growth.

Annika Winsth, chief economist at Nordea, shares that conclusion. She does not believe in a cut or increase in the policy rate from the Riksbank in the near future. "All other things being equal, inflation is still below target," and then an increase is out of the question, she says.

 

Middle East Crisis • Oil Market

Analysis Company: Traffic in Hormuz Has Plunged 90 Percent

Tanker traffic through the Strait of Hormuz has plummeted by 90 percent since the US and Israel launched attacks on Iran. This is stated by the energy analysis company Kpler on X, according to AFP.

The Iranian military has stated that traffic through the strait, which handles about a fifth of the world's crude oil exports, has been completely choked. According to Kpler, however, some ships continue to take the risk.

"Unlike several other shipping segments where traffic has largely ceased, some tankers are still traveling east and west through the strait, and several trips are made with AIS transmitters turned off," writes Kpler's shipping analyst Matt Wright.

Bessent promises measures to stabilize the oil market – price falls back

US Treasury Secretary Scott Bessent says that the US will soon present several measures to secure oil transport through the Persian Gulf, in light of the increased geopolitical tensions.

– We have a number of announcements that we will make, he says on CNBC and adds that authorities will offer insurance for crude oil tankers and cargo ships in the area.

The aim is said to be to stabilize one of the world's most important energy routes.

The oil price falls back to 81 dollars per barrel.

 

Tariff crisis Trump's tariff policy

EU does not resume work on US trade agreement

EU parliamentarians have decided not to resume work on legislative proposals linked to the EU-US trade agreement. This is what Jörgen Warborn (M) from the EPP party group on X writes, according to Reuters.

"Unfortunately, the US matters have been postponed."

The EU Parliament has considered proposals to remove several EU tariffs on US goods as part of the agreement concluded in July last year. The agreement has been criticized for being unbalanced, as the EU is to reduce most tariffs while the US maintains a general level of 15 percent, writes Reuters.

Sources: US will maintain 10 percent tariffs against the EU

The EU expects that the US will not raise the general tariff on European goods to 15 percent, but will leave it at 10 percent. This despite statements by US Treasury Secretary Scott Bessent earlier today that an increase in global tariffs could be introduced this week, Bloomberg reports.

According to sources, the EU has received assurances that the US will maintain the universal tariff rate of 10 percent on exports to the Union.

Neither the US Trade Representative nor the EU Commission would comment on the information.

Midterm elections

Roy Cooper to win North Carolina for Democrats

Former Governor Roy Cooper won the Democratic nomination for the Senate election in North Carolina, reports the AP. He will face Republican Michael Whatley in the fall election for the seat vacated by Republican Thom Tillis.

Cooper's victory strengthens Democrats' hopes of regaining the Senate majority. Whatley, who is supported by President Donald Trump, won his nomination in a field of several candidates.

The election in North Carolina is seen as crucial for Democrats' chances of winning a majority in the Senate in the fall midterm elections.

Talarico becomes Democratic Senate candidate in Texas

James Talarico wins the Democratic primary for the Senate election in Texas this fall. CNN reports. Talarico, a 36-year-old former teacher, was largely unknown before he entered the election campaign in September. During his campaign, he has built a large following, not least through social media.

He also received a lot of attention when “Late Show” host Steven Colbert stated that CBS management had stopped him from airing an interview with Talarico. The interview instead received millions of views online.

Talarico will face either Republican John Cornyn or Ken Paxton, who will meet in a runoff election on May 26.

Middle East Crisis Iran War

Sources: CIA Arms Kurds for Operation in Iran

The CIA is working to arm Kurdish militia groups with the aim of fomenting a popular uprising in Iran. This is reported by sources with insight to CNN. According to the sources, the Trump administration has held “active talks” about military support with both Kurdish groups and the opposition movement in Iran.

Kurdish forces have thousands of soldiers along the border between Iraq and Iran. Since the war began, several Kurdish groups have indicated that they may intervene and have urged Iranian soldiers to defect.

One source states that one plan is for the Kurdish forces to strike Iranian security forces to prevent them from intervening against unarmed protesters. They may also try to take territory in northern Iran to create a buffer zone in northern Iran that Israel can benefit from.

At least 80 killed in US submarine attack

A US submarine has sunk an Iranian ship off Sri Lanka, US Defense Secretary Pete Hegseth confirmed at a press conference.

At least 80 people are reported to have been killed in the attack, according to Sri Lanka's deputy foreign minister, Reuters reports.

According to AFP, it is the Iranian frigate IRIS Dena. A distress signal was sent out in the morning hours, about 40 kilometers off the coast of Sri Lanka, after an explosion. A search operation by Sri Lankan authorities was launched shortly afterwards.

Pete Hegseth: “We’ve only just begun”

US Secretary of Defense Pete Hegseth says at a press conference that more attacks on Iran are to be expected.

– We’ve only just begun, he says.

Hegseth also denies reports that the US is running out of ammunition and says that the weapons stockpile is almost endless. The war can therefore last as long as necessary, says Hegseth.

The attacks on Iran have also killed the person who is said to have led a group tasked with assassinating US President Donald Trump.

– Iran tried to assassinate President Trump, but Trump got the last laugh, says Hegseth.

At the same time, he confirms that it was an American submarine that sank the Iranian ship off Sri Lanka.

– They thought they were safe in international waters.

 

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Nepal's political situation

Former rapper wants to become Nepal's prime minister

Former rapper Balendra Shah has become a central figure ahead of Nepal's parliamentary elections tomorrow, reports AP. Shah, 35, won the 2022 mayoral election in Kathmandu and is now leading his own party, the National Independent Party, in the fight for the post of prime minister.

Critics, however, question his experience and describe him as populist. As mayor, he was criticized for demolitions of housing without sufficient planning, but his supporters say he represents a new political leadership in a country tired of old rulers.

At least 77 people were killed and the government was overthrown in violent protests in Nepal in September. Former protesters have given their support to new candidates who demand change and refer to the Gen Z movement, according to AFP.

After the protests – now Nepal's young people want to be heard

The extensive and violent so-called Gen Z protests in Nepal last autumn succeeded in forcing a new election. Now the country's young people hope that the next government will heed their demands, after tomorrow's elections, writes AFP.

- The candidates I support are those who I believe can carry forward the spirit of our movement, says Ban, who works to get young people to vote.

22-year-old Astha Basnet says that those who will govern the country after the elections will not be able to ignore the younger generation. She also says that there is now an increased political awareness among young people.

At the same time, others warn that the risks of those who are heard and seen most on social media, for example, receiving many votes, regardless of competence, and that experience should not be underestimated.

- We must be critical, we must elect people who take our mandate forward, says 21-year-old Riyab Baniya.

Nepal's Gen Z protests — the issue

• The protests in Nepal began after the government banned 26 social media sites on September 4, according to international media.
• The demonstrations, led by young people, quickly escalated into mass protests against corruption and political discontent
• At least 51 people were killed and hundreds injured when police and military forces were deployed against protesters in Kathmandu.
• The government lifted the social media ban and Prime Minister KP Sharma Oli resigned, but the protests continued and government buildings were set on fire.
• Sushila Karki was appointed as the new interim prime minister after the crisis, pending new elections

Middle East Crisis Situation in Iran

Ayatollah's funeral postponed indefinitely

The funeral of Ayatollah Ali Khamenei has been postponed, the BBC reports. The three-day ceremony was scheduled to begin today, but organizers now say it has been postponed indefinitely until the infrastructure is in place.

The ceremony was to begin with Khamenei's body being taken through the country, starting in Tehran, before he was to be buried in his hometown of Mashhad in northeastern Iran. 

Israel: "Whoever is appointed is a target for elimination"

According to reports, the son of former Ayatollah Ali Khamenei, Mojtaba Khamenei, has been appointed as the new supreme leader of Iran.

Now Israel has announced that whoever succeeds Ali Khamenei will be a target. This is what Israeli Defense Minister Israel Katz said, according to AFP.

“Any leader appointed by the Iranian terror regime to continue its plan to destroy Israel, threaten the United States, the free world and the countries of the region, and oppress the Iranian people will be a sure target for elimination. Regardless of his name or where he is hiding,” Katz writes on X.

Reports: Khamenei’s Son Appointed as New Leader

Ayatollah Khamenei’s second-eldest son, Mojtaba Khamenei, has been appointed as the new Supreme Leader of Iran, according to information provided by the London-based opposition Iran International.

He was reportedly appointed by the Iranian Assembly of Experts, whose 88 members are tasked with choosing the next leader from a list of candidates selected by a secret committee.

According to Israeli defense sources, one of the Assembly of Experts buildings in the city of Qom was bombed during the ongoing vote today to prevent the regime from choosing a new leader.

Iranian state media later reported that council members held the vote remotely.

Middle East Crisis Reactions

US soldiers told war in Iran part of “God’s holy plan”

US officers have reportedly justified the war in Iran with extreme Christian rhetoric, The Guardian reports. Over 200 reports from US soldiers have been received by the Military Religious Freedom Foundation (MRFF).

According to one report, lower-ranking officers were told by a superior that the war was “part of God’s holy plan”. The superior officer is also said to have quoted the Book of Revelation and spoken of Armageddon and the imminent return of Jesus.

“He said that President Trump had been appointed by Jesus to light the signal fire in Iran to bring about Armageddon and mark Jesus’ return to earth,” the report says.

MRFF President Mikey Weinstein, a U.S. Air Force veteran, says the reports indicate a growing Christian extremism in the U.S. military, although he points out that similar reports often come in when the U.S. is militarily involved in the Middle East.

United Arab Emirates Leaders Want to Give the Appearance of Business as Usual

United Arab Emirates leaders are working hard to give the appearance that life is continuing just as usual, despite Iran’s attacks on several of Dubai’s luxury hotels, skyscrapers and the international airport with missiles and drones, the New York Times reports.

One example of this is that Crown Prince and President Mohammed bin Zayed al-Nahyan made a very public appearance at a shopping mall in Dubai. The royal family has long used influencers, and now their message is that the city is safe and that life is going on as usual.

Omar Al-Ghazzi, a media researcher at the London School of Economics, says people in the country are being pressured not to share material about the war and the attacks.

“The UAE leadership does not want such images to be etched in people’s memories or for Dubai to be associated with any kind of conflict in the future,” he says.

 

Middle East Crisis Reactions

Macron: Attacks violate international law

French President Emmanuel Macron condemns US and Israeli attacks on Iran, blaming Iran for them, AFP reports.

– The US and Israel took the decision to launch military operations outside the framework of international law, which we cannot support, he says.

However, he adds that Iran “bears the main responsibility for this situation” given its nuclear program, support for proxy groups in the region and the mass killing of protesters in January.

The president announces that France is sending its aircraft carrier Charles de Gaulle to the Mediterranean in response to the escalating situation.

French planes patrol airspace after attacks

French Rafale fighter jets are now patrolling the airspace of the United Arab Emirates to protect French bases in the country, CNN reports.

Foreign Minister Jean-Noël Barrot told BFMTV that the fighter jets had carried out operations above the bases, but did not say whether they had taken part in shooting down incoming drones or missiles.

France has been critical of the Iran war and President Emmanuel Macron condemned the attacks on Tuesday, saying they violated international law. As a result, France has moved military resources to the region and the Mediterranean.

A frigate and anti-aircraft guns will be sent to Cyprus to protect against Iranian attacks, after a British air base was hit. France will also send the aircraft carrier Charles de Gaulle to the Mediterranean in response to the escalating situation.

Spain's Sánchez stands his ground despite threats from Trump

Spanish Prime Minister Pedro Sánchez is standing his ground in his criticism of the US and Israeli attacks on Iran, despite Donald Trump's threat to stop all trade with Spain. This is reported by the AP.

“We will not participate in something that is harmful to the world and that also goes against our values ​​and interests, just for fear of reprisals,” Sánchez said in a televised appearance.

Trump’s threat came after Spain refused to let the United States use Spanish military bases during the attacks. However, it is unclear how it would practically work to stop American trade with Spain, since it is covered by EU-wide trade agreements, writes AP.

 

  

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Middle East Crisis Iran War

United Arab Emirates reportedly considering Iran attack

The United Arab Emirates is considering counterattacks against missile and drone facilities in Iran, several sources told Axios.

It would be the first Emirati attack on Iran ever, and the fact that it is even being considered shows the enormous anger of the Gulf states against Iran's attacks on energy and civilian infrastructure, the site writes.

The country has been the target of more Iranian attacks than any other during the war, including Israel. Despite not being involved in the war, it has been attacked with more than 800 projectiles, a source with insight into the discussions says.

– The prevailing view in the United Arab Emirates is that no country in the world would fail to rethink its defense policy in such a situation.

US Consulate in Dubai attacked by drone

A drone hit a parking lot at the US Consulate in Dubai on Tuesday, US Secretary of State Marco Rubio said, according to Reuters. No staff were injured, he added.

Images on social media showed open flames and a column of black smoke at the consulate. According to the local authorities' press service, the fire is under control.
 

Rubio Backs Down After Trump's Version of the Start of the War

The Trump administration is giving conflicting statements about why they made the decision to attack Iran.

Yesterday, Secretary of State Marco Rubio said that the US attacked preemptively when they learned that Israel was about to attack. This was to avoid Iranian retaliation against American forces in the region.

Trump contradicted that version on Tuesday. According to the president, the US had information that Iran would attack, whereupon they struck first.

- If anything, it was Israel that turned its back on me, says the president.

However, the Pentagon has stated to Congress that there was no indication that Iran would attack first, according to Reuters sources.

After Trump gave his version, Rubio backed down, according to the New York Times.

- Basically, it's about this: The president decided that we would not be attacked first. It's that simple, he says.

 

Situation in Iran

Information: Khamenei's son appointed new leader

Ayatollah Khamenei's second-eldest son Mojtaba Khamenei has been appointed as the new supreme leader in Iran. This is according to information from the opposition, London-based Iran International.

He is said to have been appointed by the Iranian Assembly of Experts, whose 88 members are tasked with choosing the next leader from a list of candidates appointed by a secret committee.

According to Israeli defense sources to Axios, one of the Assembly of Experts' buildings, in the city of Qom, was bombed during the ongoing vote today to prevent the regime from choosing a new leader.

Iranian state media later reported that the members of the council held the vote remotely.


The Revolutionary Guard threatens its own population in text messages

Iran's Islamist Revolutionary Guard is sending threatening text messages to the population in an attempt to avoid protests critical of the regime. This is reported by NBC News, which has seen two messages that have been sent out.

In one, people are urged to report any activity that may be suspected of threatening security as well as "provocative propaganda and psychological operations". In another message, they address those who strive for a democratic and secular future for Iran.

"Any movement that disrupts security will be considered direct cooperation with the enemy and will be met with the hard fist of your children in the Revolutionary Guard's intelligence organization," it says, among other things.

Russian invasion

Negotiations
Merz put his foot down on Ukraine and Trump's tariffs

A large part of Friedrich Merz's meeting with Donald Trump at the White House was devoted to the Iran war. The German Chancellor was careful not to clash too much with Trump on the issue, but had even more firm words about the Ukraine war and the tariffs, several media outlets report.

After the meeting, Merz said that he urged Trump to put more pressure on Russia in the Ukraine negotiations, and that Europe must be involved.

- We will not accept an agreement that is negotiated over our heads, he said, according to Reuters.

Merz also said that the EU is not willing to accept worse trade terms with the US, according to Bloomberg.

- The limit has been reached for what we are willing to accept regarding this disproportionate tariff burden..

Sanctions
Belgium demands millions to release Russian tanker

Belgium is demanding a ransom of over 100 million kronor to release the seized Russian oil tanker Ethera, writes Reuters.

The ship is part of the Russian shadow fleet. Belgian authorities discovered 45 violations, including that it was sailing under a false Guinean flag.

The crew of 20 men – a Russian captain, three Georgians, one Indonesian and the rest Indians – are being kept on board. The ship is not allowed to sail until the sum is paid and a follow-up inspection is carried out.

– With this operation, we comply with EU sanctions, protect the North Sea and strike against the financing of Russia's war in Ukraine, says Belgian Defense Minister Theo Francken.

 

The absence of a plan scares the market

Andreas Cervenka

Reporter and economic commentator

This is a commentary text. Analysis and positions are those of the writer.

Updated 21.50 | Published 21.43

Why has the US attacked Iran right now and what is the goal?

Donald Trump has not been able to give a really good answer to that.

This increases the economic risks dramatically, also for Sweden.

In the event of upheaval, the same phenomenon always occurs: many people cry out for forecasts of what will happen. When the harsh truth is that no one really has any idea.

When it comes to the latest major war in the Middle East, it seems worryingly true that the people who started it also have.

The US government, led by President Donald Trump, has in a few days managed to give several completely different and contradictory versions of what the main purpose of the attacks on Iran is, the Financial Times notes in an article: overthrow the regime, force it to the negotiating table, knock out the country's missile defenses, avenge decades of terrorism around the world. On Tuesday, Trump presented another motive: Iran was about to attack first.

There have also been different signals regarding how long the war might last.

Trump has gone from telling journalists that the war could last a few days to saying it could be four to five weeks or "as long as it takes."

What happens then, and who will take over Iran? The president seems to be groping for answers as much as anyone else.

"We don't know who's leading the country right now, those in Iran don't know who's leading," Donald Trump told CNN.

That sounds reassuring.

At the same time, neither Defense Secretary Pete Hegseth nor Donald Trump have ruled out deploying ground troops, something that has surprised many, not least in the United States.

If the goal was to create maximum uncertainty, the United States and Israel have scored a direct hit.

             

            The oil industry area of ​​Fujairah in the United Arab Emirates is on fire after being hit by debris                  from a drone. Photo: Altaf Qadri / AP

It is not surprising that the world's financial markets reacted even more negatively on Tuesday.

In Stockholm, the stock exchange closed down 2.7 percent, the London Stock Exchange was down about the same amount and the Frankfurt stock exchange totaled a price drop of 3.4 percent.

At the same time, there are more and more signs that the United States has lost control of the development of events.

One such is that the US State Department is urging all American citizens to leave the entire Middle East, a very ominous message.

It now seems likely that this is not a short-term war with a clear end point.

This entails several risks for the economy:

Iran's closure of the Strait of Hormuz and attacks on energy facilities in the Gulf have sent shockwaves through the energy markets. The price of oil continues to rise sharply, as does the price of natural gas, which became another 30 percent more expensive on Tuesday and has now risen by 80 percent in a short time. This in turn has already caused electricity prices in Sweden to climb. 

Rising energy prices could push up inflation in Europe. In the market, investors are beginning to speculate on an upcoming interest rate hike from the European Central Bank (ECB), while a cut had previously been expected. Interest rates are ticking upwards, including in Sweden.

A war that continues for weeks and months with an unclear outcome risks paralyzing the economy. Last year, the Swedish economy slowed down after Donald Trump's tariff moves. Now the same thing could be about to happen again. The timing couldn’t be worse, as 2026 was supposed to be the year the economy took its revenge.

The perception of risk has changed. In 2026, Donald Trump attacked Venezuela, threatened to take over Greenland and started a major war in the Middle East. And it’s only March. What’s next? The talk of “we live in troubled times” has gone from a seminar discussion to a very concrete reality. Increased risk levels are usually bad news for growth.

Trying to predict what will happen in the conflict itself in the near future is impossible. In the best case scenario, the end result will be a free and democratic Iran - a great gain both humanly and economically.

But one thing is certain: a lot can go wrong, as the US's experiences in countries such as Iraq, Afghanistan and Libya have shown.

The longer the conflict goes on, the more the risks of unexpected consequences increase. Countries in Asia that are dependent on oil from the Gulf could come under severe economic pressure if the war drags on. On Tuesday evening, Trump promised to "cut off all trade" with Spain because the country is not supporting the US in the war. What does that mean?

Geopolitics is also being affected. Russia is certainly losing an ally in Iran, but rising oil prices could become a lifeline for the Russian economy. What does that mean for the war in Ukraine and, by extension, for the security of Europe and Sweden?

Following world developments is like sitting in the back seat of a car parked on a steep downhill slope when someone suddenly reaches in and releases the handbrake.

What is frightening is not just the unexpected movement but above all a chilling realization: no one is in control.

Trump: "We will stop all trade with Spain"

Jacob Hallerström

Published 19.05

            

           Merz and Trump during tonight's meeting. Photo: Mark Schiefelbein / AP

Donald Trump takes a hard line against Spain.

The threat comes after Spain denied the US the use of air bases in the country during this weekend's attacks on Iran.

- We will stop all trade with Spain, we want nothing to do with Spain, said Trump.

During the evening, Donald Trump and German Chancellor Friedrich Merz held a joint press conference at the White House.   

During a lengthy answer to one of the journalists' questions, Trump said that the US will stop all trade with Spain.

Punishment for Spain's "unhelpfulness"

The threat comes after Spain denied the US the use of air bases in the country during this weekend's attacks on Iran. Trump also criticized what he described as Spain's reluctance to raise its defense spending to NATO's new standard of five percent of GDP.

- We will cut off all trade with Spain, we want nothing to do with Spain, Trump said.

Trump then turned to two of his advisers who were also in the room and discussed the possibility of imposing an "embargo" on Spain. Friedrich Merz in the armchair next to him was then asked about the threats.

- We are trying to persuade Spain to accept NATO's five percent target, said Merz.

Criticizing the British

The UK also got a big boot during the question time at the White House.

Trump criticized that it took several days for the UK to allow American aircraft to use British bases in Cyprus.

- The UK has been very unhelpful. They are destroying our relationship, Trump said before moving on to criticize the UK's immigration and energy policies.