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World Economy Apr 08, 2026

Iran and China Deploy Yuan Toll Payments in Strait of Hormuz to Erode US Dollar Dominance

Amid the paused US‑Israel‑Iran conflict, Tehran and Beijing have begun charging transit fees in yua…
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.
#iran #china #yuan
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Video Apr 08, 2026

US Ceasefire Paves Way for Talks on Iran's 10-Point Plan

The United States has agreed to a ceasefire, potentially opening the door for negotiations on Iran'…
The United States has agreed to a ceasefire, which could facilitate discussions on Iran's proposed 10-point plan. This development may mark a significant shift in US-Iran relations, potentially easing tensions in the region. The ceasefire agreement allows for diplomatic efforts to move forward, focusing on Iran's 'workable' 10-point plan. While details of the plan remain scarce, its consideration signals a willingness from both parties to engage in dialogue. This move comes as diplomatic efforts in the Middle East continue to seek solutions to longstanding conflicts. The ceasefire and potential negotiations underscore a critical period in US-Iran relations, with implications for regional stability.
#ceasefire #allows #negotiations
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News Apr 08, 2026

US Reaffirms Plan to Deport Kilmar Abrego Garcia to Liberia Amid Criticism

The US government has reaffirmed its plan to deport Salvadoran immigrant Kilmar Abrego Garcia to Li…
The United States government has reaffirmed its position that it plans to deport Salvadoran immigrant Kilmar Abrego Garcia to Liberia, despite arguments that doing so would be vindictive.On Tuesday, lawyers for the administration of President Donald Trump told US federal judge Paula Xinis that it remains committed to Liberia as a destination.Abrego Garcia, however, has said that, if he must be deported, he would prefer to be sent to Costa Rica, and the government there has indicated it would accept him.But the Trump administration’s insistence on sending Abrego Garcia to Africa has raised questions about its motive.Critics have accused the US government of seeking retribution against Abrego Garcia, whose case has spurred scrutiny over the legality of Trump’s mass deportation campaign.The case began with a high-profile mistake. In March 2025, less than three months into Trump’s second term, Abrego Garcia was wrongfully deported to his native El Salvador, in violation of a 2019 protection order that found he could face gang violence if returned to the country.The Trump administration, at the time, described Abrego Garcia’s removal as an “administrative error”.Still, it initially refused to seek his return, arguing that Abrego Garcia was a gang member and that, once abroad, he was subject to El Salvador’s leadership. Abrego Garcia, though, had no criminal record at the time of his deportation.Abrego Garcia was imprisoned, first at El Salvador’s Terrorism Confinement Centre (CECOT) and later in a second prison in Santa Ana, El Salvador.Meanwhile, lawyers in the US had turned to US courts to reverse his deportation.In early April 2025, Judge Xinis ruled that the US government had to “facilitate” Abrego Garcia’s return to the country, and later that month, the US Supreme Court upheld her ruling in a unanimous decision.But it was only in June 2025 that Abrego Garcia was brought back to the US. In announcing Abrego Garcia’s return, the Trump administration revealed it would be filing criminal charges against him for human smuggling.He pleaded not guilty, but was forced to remain in jail. The Trump administration had deemed him a flight risk, and his own lawyers feared that stepping out of his jail cell would land him in immigration detention instead.When a court ordered his release in August, this is exactly what happened: Immigration agents took him back into custody within days.Authorities at the time said they would deport him to Uganda. Later, they changed the proposed destination to Liberia.Abrego Garcia was ultimately freed from immigration detention in December, but he continues to fight both his criminal charges and his deportation proceedings.At Tuesday’s hearing, Judge Xinis questioned why the Trump administration would not consider deporting Abrego Garcia to Costa Rica instead of Liberia.She pointed out that the country had recently inked an agreement to accept 25 removals from the US per week.In response, Ernesto Molina, the director of the Justice Department’s Office of Immigration Litigation, suggested that Abrego Garcia could “remove himself” to Costa Rica.But Xinis called the proposal a “fantasy” and noted that he cannot leave as long as the Justice Department is prosecuting him on criminal charges. He is legally required to attend his criminal hearings.After the tense exchange, Xinis set another hearing on the matter for April 28.
#abrego #garcia #trump
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Video Apr 08, 2026

Pakistan Considers Iran War Pause Amid Diplomatic Efforts

Pakistan is exploring a potential pause in its conflict with Iran through diplomatic channels.
Pakistan is reportedly considering a pause in its military engagement with Iran as part of broader diplomatic efforts to de-escalate tensions between the two nations. The development comes amid heightened concerns over the potential for a wider conflict in the region, with various international actors urging restraint and dialogue. Details about the proposed pause remain scarce, but it is understood that Pakistan is seeking to create an opportunity for negotiations with Iran. The situation has been closely watched by the international community, with many expressing concerns about the humanitarian and geopolitical implications of a prolonged conflict.
#what #know #pakistan
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World Apr 08, 2026

Share Your Experience: How Have You Been Affected by the Latest Events in the Middle East?

The Guardian invites readers to share their experiences of how they have been affected by the lates…
The Guardian is calling on readers to share their personal stories of how they have been impacted by the ongoing conflict in the Middle East. With Iran and the US agreeing to a two-week conditional ceasefire, the situation remains volatile and uncertain.Whether you are living, working, or traveling in the region, or have been impacted in other ways, the Guardian wants to hear from you. Your experiences can help provide a deeper understanding of the human impact of the conflict.Please note that your security is the top priority. The Guardian recognizes it may not always be safe or appropriate to record or share your experiences, so please consider this when deciding whether to get in touch.To share your story, you can:Fill out the online form provided, which is encrypted and confidential.Message the Guardian on WhatsApp or Signal at +447766780300.The Guardian assures readers that all responses will be kept secure and anonymous if desired. The information collected will only be used for the purpose of this feature and will be deleted when no longer required.Key form fields include:NameLocationBackground information (optional)Country locatedPersonal experience with the conflictPhoto upload (optional)Publication consentContact details (optional)For more information, readers can visit the Guardian's tips guide or privacy policy.
#iran #israel #conflict
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Sport Apr 08, 2026

Augusta National Cracks Down on Ticket Resale, Keeps Masters Gate Closed to Trump and Scalpers

Augusta National has intensified its fight against ticket scalping, banning resale platforms and tu…
In a revealing glimpse of the club’s ironclad exclusivity, a 2019 iMessage exchange shows Jeffrey Epstein pleading with Steve Bannon to secure a membership for Paul, Weiss partner Brad Karp. Bannon dismissed the request, describing Augusta’s governing families as "crackers" from the Old South who distrust lawyers and bankers, underscoring the club’s cultural gatekeeping. That anecdote illustrates a broader truth: money alone cannot buy entry to the Masters. Even former President Donald Trump has never been able to force his way onto the Augusta grounds, a rarity among high‑profile U.S. sporting events. Traditionally, most tickets are allocated to lifelong local patrons, a practice that has been frozen since the 1970s. The only official avenue for the public is an annual lottery, where the odds are so slim they make Tiger Woods’ chances of a sixth Green Jacket look generous. In practice, however, a lucrative secondary market emerged, with scalpers selling tickets for up to 50 times face value and operating just outside the 2,700‑foot anti‑scalping boundary mandated by Georgia law. Last year’s Masters turned into a "bloodbath" for the resale industry. An executive from a local hospitality firm reported that around 200 ticket holders were denied entry after the club began rigorously enforcing its anti‑scalping policy. Patrons were sometimes escorted to a room, asked for identification, and interrogated about how they obtained their tickets – a process likened to a police stop. According to insiders, the club’s four‑day tickets now contain RFID chips that allow staff to track each badge’s location nightly. The embedded barcodes allegedly store the buyer’s address, enabling staff to pinpoint resale activity. Some reports claim the club is even purchasing resale tickets en masse to uncover the identities of sellers, then sending a politely worded letter that permanently bans the recipient from the grounds. Ticket platforms have felt the impact. StubHub has introduced a new contract that makes sellers fully liable for any fees or charges if a buyer is turned away, while SeatGeek has ceased offering Masters tickets altogether. This decisive move by Augusta National signals a broader shift in how elite sports events manage secondary markets. Ultimately, the crackdown serves a dual purpose: protecting the club’s brand integrity and reinforcing its reputation as an institution that remains untouched by even the most powerful political figures. As the Masters approaches, the message is clear – the only way onto Augusta’s hallowed fairways is through its own tightly‑controlled channels, not through the influence of money, politics, or the resale trade.
#stubhub #seatgeek #golf
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Tv And Radio Apr 08, 2026

Undercover Filmmakers Expose Sinister Polygamous Cult in Netflix Doc

A new Netflix documentary series, 'Trust Me: The False Prophet', reveals the inner workings of a po…
The documentary series 'Trust Me: The False Prophet' has shed light on the sinister activities of a polygamous Mormon cult led by Samuel Bateman, who is currently serving a 50-year sentence for luring minors into criminal sex acts.Director Rachel Dretzin, a former investigative journalist for Frontline, worked on the series, which follows a pair of documentary filmmakers, Christine Marie and Tolga Katas, who embedded themselves in Utah's Fundamentalist Church of Jesus Christ of Latter-day Saints (FLDS) community. They earned the trust of the cult members and were invited into Bateman's home, where he presided over 20 'wives', many of them underage.The filmmakers' incriminating footage and witness testimony were essential to the FBI's case against Bateman and other men charged with crimes. The series transcends the true crime genre's typical sensationalism, presenting its revelations thoughtfully and honestly.Dretzin notes that documentary filmmaking can be more effective than the legal system in effecting change, particularly in cases like this where the community is fiercely insular. The series raises questions about the ethics of documentary filmmaking and the blurred lines between observer and participant.The story also highlights the manipulation and indoctrination of young women within the cult, including Naomi, a young woman who becomes a pivotal witness. Her aunt Carole, who defected from the FLDS, shares her insights on how the cult grooms girls for exploitation.Dretzin believes that the story has echoes in our ordinary lives and political landscape, particularly in the era of 'fake news' and echo chambers. The series serves as a reminder of the dangers of closed systems and the importance of critical thinking.
#documentary #netflix #flds
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Sport Apr 08, 2026

British Horseracing Authority Mulls Direct‑Action Protests Over Proposed Betting Affordability Checks

The British Horseracing Authority is weighing direct‑action protests as it battles the UK governmen…
The chief executive of the British Horseracing Authority (BHA), Brant Dunshea, announced that the sport is prepared to consider more direct‑action protests as it confronts the government’s proposal to introduce affordability checks for punters. Last September’s one‑day strike, which forced the cancellation of four meetings, proved decisive: it helped the government abandon a planned increase in betting tax from 15% to 21%, a rise the BHA estimated would have cost the industry £330 million. Following the “Axe the Racing Tax” campaign, the BHA is now urging the government to rethink the affordability checks that could require up to 120,000 regular gamblers to provide personal documentation, according to the Betting and Gaming Council. Independent modelling by EY suggests that as many as 44,000 bettors might migrate to black‑market operators, eroding the industry’s betting turnover by tens of millions of pounds. Betting turnover has already fallen by £2 billion since 2021. The Gambling Commission is slated to decide on the checks next month, while more than 400 racing figures – including trainers and MPs – have signed an open letter to Culture Secretary Lisa Nandy demanding intervention. “Our campaign will continue, and direct action is part of our broader strategy, though we will not discuss specifics publicly,” Dunshea said. He highlighted the power of collective action, noting that the industry’s cultural and economic significance was recognised in the government’s recent budget announcement. Recent pilot schemes, involving three credit‑reference agencies, produced inconsistent outcomes for the same individuals, raising concerns that the checks could push more punters toward illegal markets. Data from Yield Sec shows that the share of the UK gambling market held by black‑market operators surged from 0.43% in 2020 to 9% last year, with £379 million wagered on unlicensed platforms that do not contribute to the exchequer. Dunshea stressed that any affordability measure must be truly frictionless. “Consumers are price‑sensitive and protective of their personal data; any intervention that feels invasive will drive them elsewhere,” he warned. Amid the upcoming Grand National at Aintree, Dunshea expressed surprise at recent comments from the RSPCA regarding horse deaths at Cheltenham, reaffirming the BHA’s commitment to a collaborative relationship with the animal‑welfare charity. He noted that over the past 25 years, the industry has invested £60 million in equine welfare, reducing fatality rates to 0.22% of runners, and emphasized that the BHA will continue to work constructively with the RSPCA despite recent tensions.
#our #more #dunshea
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Sports Apr 08, 2026

Nike acknowledges shoulder‑seam flaw in 2026 World Cup kits as fans call for quick remedy

Nike has confirmed a design defect in the shoulder seams of several 2026 World Cup jerseys after fa…
When Nike unveiled its official 2026 World Cup kit range in March, the designs were widely praised, with the United States' home shirt hailed as the most distinctive in years and other nations such as France, England, Canada and Uruguay receiving positive feedback.However, during the recent international break, a growing chorus of supporters highlighted a recurring problem: a pronounced bulge along the shoulder seam of many of the new jerseys. While the effect was subtle on some kits, it was stark on others – notably the sleek France shirt worn by Kylian Mbappé and the Uruguay jerseys that resembled a cartoon villain’s armor.Fans took to social media to share photos and complaints, with some claiming that steaming or pre‑washing the garments temporarily eased the issue, while others expressed outright frustration, describing the design as “stupid” and unsuitable for broader shoulder widths.Given that the jerseys retail for between $100 and $200, the defect poses a significant concern for both consumers and the national federations that expect their players to look immaculate on football’s biggest stage.In a statement to The Guardian, Nike acknowledged the flaw, noting that the problem was most evident during the recent break and that “performance is unaffected, but the overall aesthetic is not where it needs to be.” The company added that it is reviewing possible solutions in collaboration with partner federations and suppliers.The kits are built around Nike’s Aero‑FIT system, a computational‑design and stitch‑specific knitting process marketed as a way to keep athletes cool in what could be the hottest World Cup ever, hosted across the United States, Canada and Mexico. A source familiar with the technology confirmed that AI‑driven design data underpins the process.Nevertheless, the shoulder‑seam issue raises questions about the feasibility of a redesign with the tournament less than two months away and millions of jerseys already sold. Nike officials indicated that any corrective action would require a massive logistical effort.“We are a global team of best‑in‑class designers, creators and dreamers who spend every day thinking about how to innovate, challenge ourselves, and take risks that push the beautiful game,” the company said. “We always hold ourselves and our products to the highest standards and this fell short. We’re working quickly to make this right for players and fans, because every kit should reflect the care, precision and pride that the game deserves.”Nike’s partnership with the United States runs until 2033, while England’s agreement with the FA extends to 2030, meaning the brand will continue to supply kits for future tournaments despite this setback.
#kits #nike #world
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