Latest news for 17 July 2026

IRAN

Escalation.

Hours after President Trump thanked Iran for releasing a US citizen as a goodwill gesture, US forces conducted their sixth straight night of strikes, this time hitting key bridges and rail-lines. Iran has now called for Yemen’s Houthis to close the critical Red Sea chokepoint (typically 12-15% of global maritime trade) if the US starts hitting energy infrastructure. (BBC)

Comment: The US continues to assure stranded tankers that the southern Hormuz route is still open, though against that chaotic backdrop above, it’s any wonder a tanker apparently responded over the radio with, “f—k off”.

NICARAGUA

Burning bridges.

Nicaragua has severed ties with Italy after Rome kept pressing for the extradition of Alessio Casimirri, a member of the Marxist-Leninist Red Brigades wanted for the 1978 kidnapping and murder of one of Italy’s earlier prime ministers. (Reuters)

Comment: It hardly seems smart for Nicaragua’s Cuba-aligned Ortega dictatorship to be playing tough with the free world in defence of a character like Casimirri, literally the same day DC was hosting a world summit focused on leftist terrorism…

SOUTH KOREA

So long, no rise.

Seoul’s Kospi stock index has dipped after Korea’s central bank raised rates for the first time in three years, as the country’s historic chip boom nudges inflation. (CNBC)

Comment: To give you a sense of scale here, the average bonus Samsung is paying its chipmaking division is $340k!

FRANCE

Wildfires rage.

Fuelled by back-to-back heatwaves, drought, and winds, wildfires have now burned over 41,000 hectares of land in France so far this year, four times the average. (FT $)

MYANMAR

Sea tragedy feared.

Over 500 members of the Rohingya minority are now feared dead after two ships sank off Myanmar. A million Rohingya have fled Myanmar’s civil war and repression since 2017, many in overcrowded and unseaworthy boats. (Guardian)

TAIWAN

Regional huddle.

Shortly after revealing a record $22B in Q2 net profit (!), Taiwan’s legendary TSMC chipmaker has announced an additional $100B investment in the US, pushing its total US commitment beyond a quarter trillion dollars. (Taipei Times)

Comment: Taiwan is walking a delicate line here: investing enough to keep Trump 2.0 onside, but without transferring enough chip-magic for DC to one day walk away.

EGYPT

Turkey’s middleman.

Egypt’s defence minister has wrapped his visit to Ankara with a new bilateral pledge to further build on their $350M deal for a joint new arms manufacturer, aimed at exporting weapons systems across Africa and the Middle East. (BIA)

Comment: Turkey has been on a hot streak lately, signing deals to supply several African countries and fill a gap left by Europe and Russia. But what does Egypt bring? Its military-complex has deep pockets, established facilities, and a lower cost-base.

UKRAINE

Shake-up backlash.

Amid continued protests over his dismissal, the popular, young, and tech-savvy defence minister (Fedorov) has used his last press conference to suggest it was a reformist clash with Ukraine’s top commander (Syrskyi) that cost him the job. Meanwhile, Zelensky’s new PM (Koretskyi) is an entrepreneur with a reputation for helping revive struggling state enterprises. He takes office just as Putin’s missile attacks made June the deadliest month for Ukraine’s civilians since April 2022. (AP)

Comment: For all Zelensky’s strengths as a wartime leader, this Fedorov ouster is shaping up as another example of his struggle to manage politics on the home front. Meanwhile, in more hopeful news, a bipartisan Russia sanctions bill championed by the late Lindsey Graham now apparently has 60+ co-sponsors in the US senate, with momentum in both chambers plus even reports of White House support.