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The temporary cease‑fire in the US‑Israel‑Iran war has given Iran and China a strategic opening to challenge the US dollar’s supremacy in global finance. Both nations share a common objective: to reduce reliance on the greenback, especially in the oil sector where, according to a 2023 JP Morgan estimate, roughly 80% of transactions are settled in dollars. In a practical step toward this goal, Iran’s de‑facto toll‑booth system in the Strait of Hormuz—a chokepoint that handles about one‑fifth of the world’s oil and LNG shipments—has started accepting transit fees in Chinese yuan. Lloyd’s List reported that at least two vessels had already paid in yuan by March 25, and China’s Ministry of Commerce later acknowledged the reports on social media. Iran’s embassy in Zimbabwe even called for the introduction of a “petroyuan” to the global oil market, underscoring the political symbolism of the move. While Tehran pledged to guarantee safe passage for two weeks under a US‑brokered cease‑fire, Beijing declined to comment. Harvard economist Kenneth Rogoff told Al Jazeera that Iran’s actions serve a dual purpose: they “poke a thumb in the United States’s eye” and provide a practical alternative to dollar‑based sanctions. Rogoff added that Iran’s shift to yuan aligns with China’s broader effort to redenominate trade among BRICS nations. For both countries, the yuan offers a way to sidestep US sanctions and lower transaction costs. Their trade relationship, cemented by a 25‑year strategic partnership signed in 2021, sees China buying over 80% of Iran’s oil—often at discounted rates—while Iran imports Chinese machinery, electronics, chemicals, and industrial components. Data from Kpler and TankerTrackers indicate that, despite the conflict, Iran’s oil exports to China have remained near pre‑war levels, ranging between 12 million and 13.7 million barrels in the first two weeks of hostilities. China’s ambition to elevate the yuan is long‑standing. President Xi Jinping, in a 2024 address, expressed hope that the yuan would become a global reserve currency. Yet significant hurdles remain: the yuan is not freely convertible due to strict capital controls, and the Chinese financial system is perceived as opaque, limiting broader adoption. According to the IMF, the dollar still dominated global foreign‑exchange reserves at 57% last year, far ahead of the euro’s 20% and the yuan’s modest 2%. Cross‑border trade settled in yuan rose to 3.7% in 2024, up from under 1% in 2012, per S&P; Global—an encouraging but limited shift. Natixis chief economist Alicia Garcia‑Herrero cautioned that the Strait of Hormuz experiment adds only “incremental pressure” and that a true “de‑dollarisation” would require Gulf states, which have priced oil in dollars since the 1970s in exchange for US security guarantees. European analyst Hosuk Lee‑Makiyama highlighted that China’s ability to supply Iran with essential goods makes the yuan a viable alternative, a dynamic not possible for Europe or Japan. He described China as the closest the world has seen to a “manufacturing one‑stop shop.” Consultancy founder Dan Steinbock echoed that while the dollar’s supremacy is unlikely to crumble overnight, the gradual increase in yuan usage could “chip away” at US dominance in specific sectors over time. Rogoff concluded that the long‑term impact hinges on the war’s outcome. If Iran and China emerge stronger, many countries may diversify away from the dollar to avoid US‑imposed financial constraints. Conversely, a decisive US victory could reinforce dollar hegemony for the foreseeable future.

Israel's prime minister, Benjamin Netanyahu, announced that Jerusalem backs the United States' decision to suspend aerial attacks on Iran for a two‑week period, while emphasizing that the truce excludes Lebanon. The statement, posted on X on Wednesday, aligns Israel with President Donald Trump's objective of neutralising Iran's nuclear, missile and terror capabilities across the region. Netanyahu noted that Washington has communicated its commitment to these goals ahead of the forthcoming negotiations scheduled for Friday in Islamabad, Pakistan. He reiterated that the ceasefire's scope is limited, explicitly stating that "the two‑week ceasefire does not include Lebanon." The Israeli clarification arrives after Pakistani Prime Minister Shehbaz Sharif declared that the United States, Iran and their allies had reached an "immediate ceasefire everywhere, including Lebanon and elsewhere," a move he said would take effect instantly. This contrasting messaging highlights a potential rift among allies regarding the breadth of the pause in hostilities. While the United States appears to pursue a broader de‑escalation, Israel's exclusion of Lebanon signals lingering concerns over Hezbollah's involvement and the security of its northern border. Analysts warn that the disagreement could complicate diplomatic efforts in Islamabad, where regional actors will seek to solidify a framework that addresses Iran's nuclear ambitions without igniting further conflict in Lebanon. Further updates will follow as the situation develops.

Arsenal's quest for a quadruple has hit a roadblock, with their UEFA Champions League hopes put to the test by Sporting Lisbon. The Gunners secured a 1-0 win in Lisbon, courtesy of a late Kai Havertz strike, but the performance left many questions unanswered.The team's recent back-to-back defeats in the League Cup final and FA Cup quarterfinals have raised concerns about a late-season slump. Despite leading the Premier League by nine points, Arsenal's consistency has been questioned, and Mikel Arteta's intensity has come under scrutiny.Arteta's emotional displays, particularly in defeat, have been a concern for some members of Arsenal's hierarchy, who worry that his temperament could be holding the team back. However, Arteta remains convinced that his side can handle the pressure and secure silverware.The team's midfielder, Christian Norgaard, emphasized the importance of maintaining a positive body language and focusing on the upcoming games. David Raya, the goalkeeper, expressed his confidence in the team's ability to win the Champions League, stating that belief is key to success.As Arsenal prepares for the second leg against Sporting Lisbon, they must address their concerns and capitalize on their strengths to achieve their goals. The team's performance will be crucial in determining their fate in the Premier League and Champions League.

Israel's conflict with Iran has ended in a strategic failure for Prime Minister Benjamin Netanyahu, with the war achieving none of its main goals and damaging Israel's global standing.Despite years of threats and diplomatic pressure, Israel's war with Iran has resulted in a fragile and vague ceasefire, with Iran's regime still intact and its military assets significant.The US intelligence community had deemed Israeli predictions of regime change and revolution in Iran as 'farcical', and Netanyahu's assessment that the war would be short-lived proved woefully wide of the mark.Netanyahu's insistence on continuing attacks in southern Lebanon appears hubristic, and Israel's actions have been criticized by opposition leaders, including Yair Lapid and Yair Golan, who have called the ceasefire a 'strategic failure'.The reality is that Netanyahu gambled everything on his war and failed to secure the fall of the Iranian regime, the seizure of Tehran's stockpile of highly enriched uranium, or meaningful state degradation.Instead, Israel's global standing has been damaged, and its role in pushing the US to war in Iran has been assailed by both progressives and the far right in America.The domestic fallout for Netanyahu in an election year in Israel will be significant, with many Israelis likely to question his ability to deliver on his promises of security and victory.

Ballon d’Or prospects are wider than ever after more than a decade dominated by Lionel Messi and Cristiano Ronaldo. This season’s Champions League quarter‑finals could tip the balance as the 103‑day run‑in to the World Cup final approaches. Harry Kane leads the conversation, having netted 54 goals across club and country – a tally that includes Bayern Munich’s recent 2‑1 win over Real Madrid. A Champions League triumph with Bayern and a World Cup victory with England would make him the first English Ballon d’Or winner since Michael Owen in 2001. Other candidates include Kylian Mbappé, currently the top scorer in both the Champions League and La Liga, and teenage sensation Lamine Yamal, whose creativity for Barcelona and Spain adds a different flavour to the race. The field remains open enough that a surprise performer – perhaps an Arsenal double‑winner or a PSG‑Portugal combo – could leapfrog the traditional favourites. Folarin Balogun’s USMNT future is under scrutiny. The 24‑year‑old Monaco striker has scored in five consecutive Ligue 1 matches, highlighted by a spectacular chip against Marseille that showcased his peak form. Yet head coach Mauricio Pochettino opted to start Christian Pulisic at centre‑forward in the final warm‑up against Portugal, limiting Balogun’s chance to cement his role. While Pulisic displayed moments of flair, his hold‑up play was described as “more like a winger than a No 9”, underscoring the coach’s dilemma. Balogun’s club form, however, argues that the United States already possess a striker capable of leading the line. Roberto De Zerbi faces a seven‑game deadline at Tottenham Hotspur. Signed on a five‑year deal, the Italian tactician inherits a side that struggled to adapt to his possession‑based philosophy under previous managers. Tottenham rank 12th for touches inside the opposition box and 14th for big chances created (Opta), indicating a lack of the creative outlets De Zerbi favours. He achieved his first win at Brighton after six games and impressed at Marseille with four wins in five, but both successes came after a full pre‑season and targeted transfers – luxuries Tottenham lack at the moment. The upcoming Sunderland clash will be his first real test of whether his style can be implemented quickly enough to steer the club away from relegation danger. In summary, the next three months will decide not only who lifts the 2026 Ballon d’Or, but also whether Balogun can secure a starring role for the USMNT and if De Zerbi can reverse Tottenham’s fortunes before his contract’s short‑term clause expires.

Liverpool manager Arne Slot has called on his team's fans to play a pivotal role in their Champions League quarter-final second leg against Paris Saint-Germain at Anfield. The Reds are seeking to overturn a 2-0 deficit from the first leg in Paris.Slot acknowledged that his team were in survival mode during the first leg, but he believes they can still progress to the semi-finals with the help of their home fans. Luis Enrique's PSG side dominated the first leg, with goals from Désiré Doué and Khvicha Kvaratskhelia putting them in command of the tie.Slot highlighted the importance of Anfield's atmosphere, stating: 'We will need to have a better performance and we definitely need our fans to help us create an atmosphere where we can rise to a better level than we did today.'The Liverpool manager drew inspiration from their previous Champions League comeback against Galatasaray in the last 16, and he is confident that his team can repeat the feat with the support of their fans. 'Our fans do make a big difference for us,' he added.Luis Enrique, the PSG coach, expects his team to 'suffer' at Anfield but remains committed to their positive approach. 'We are going there to win and to qualify,' he said.

Formula One has endured a turbulent opening to the season under its new regulations. The sport's governing body, the FIA, is now proposing changes to address safety concerns and driver dissatisfaction. Nikolas Tombazis, the single-seater director for the FIA, is at the heart of the process and is confident that F1 can adapt successfully.Tombazis acknowledges that the new rules have provoked a strong reaction, with some drivers expressing discontent. Oliver Bearman's 190mph crash at Suzuka has raised concerns about the safety of the new regulations, and the FIA is taking a cautious approach to making changes. "Every accident at high speed is always a little bit of a shock," Tombazis says.The FIA is discussing potential changes with teams, powerunit manufacturers, and the commercial rights holder. Meetings are scheduled for April 20 and May 3 to decide on changes to the regulations, which could include adjustments to the parameters of energy recovery and deployment. Tombazis emphasizes that safety is the top priority and that the goal is to find a balance between safety and competitiveness.The new regulations have been a topic of debate, with some drivers, such as Lando Norris and Max Verstappen, expressing dissatisfaction with the current formula. The FIA is working to address these concerns while also ensuring that the sport remains safe and competitive. "We're not expecting people to sugarcoat their comments," Tombazis says, but he is hopeful that a broad consensus can be reached.

Atlético Madrid pulled off a remarkable 2-0 victory over Barcelona at the Camp Nou, dealing a significant blow to the home team's Champions League aspirations. The match's turning point came just before halftime when Barcelona's Pau Cubarsí received a red card for tripping Giuliano Simeone, and Julián Alvarez curled in a spectacular free-kick from the resulting spot, giving Atlético a crucial lead.The visitors doubled their advantage in the second half through Alexander Sørloth's header, which was set up by a beautifully worked move initiated by Antoine Griezmann. Despite being a man down, Barcelona pressed hard for a goal but were thwarted by Atlético's defense and the impressive form of goalkeeper Juan Musso.This win puts Atlético in a strong position ahead of the second leg at the Metropolitano, where they will look to secure a spot in the Champions League semifinals. For Barcelona, the defeat leaves them with a difficult task to overturn the deficit in six days' time.

Riccardo Calafiori, the Italy defender for Arsenal, has found solace in the team's recent Champions League victory against Sporting, which has reignited their trophy hopes. The win came after a tough couple of weeks for Calafiori, who was part of the Italy squad that failed to qualify for the World Cup for the third consecutive time.Calafiori reflected on the painful period for both his country and club, where Arsenal suffered successive defeats either side of the World Cup qualification failure. However, he emphasized that the beauty of football lies in its unpredictability and the opportunity to bounce back. “It’s been tough, but that is the beauty of football: it is 100% better now,” Calafiori stated.The defender acknowledged that the defeat to Southampton in the FA Cup and the broader disappointment of the period had been challenging. Yet, he expressed gratitude for the chance to play against Sporting just three days later, which helped him shift focus away from the negativity. Calafiori mentioned that while the World Cup failure might have given him more desire to succeed at the club level, he remains disappointed and sad.Arsenal's recent performance was marked by goalkeeper David Raya's heroics, who made crucial saves to secure a 1-0 win against Sporting. This victory was a significant confidence booster for the team, especially with Kai Havertz scoring the winning goal in injury time. Calafiori praised Raya, stating that his return to the lineup after being rested had engendered confidence in the defence.Looking ahead, Calafiori and Arsenal are set to face Bournemouth in the Premier League, an opportunity to extend their lead at the top of the table to 12 points before Manchester City travels to Chelsea. Calafiori emphasized the importance of every upcoming game, stating, “Every game is really important now.”