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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.

The United States and Iran have agreed to a two-week ceasefire, with talks to finalize a peace deal set to begin in Pakistan's Islamabad on Friday. The truce, announced by US President Donald Trump, will see Iran reopen the Strait of Hormuz, a vital maritime corridor through which a fifth of the world's oil supply passes.Countries around the world have welcomed the development, with many urging a lasting peace in the region. Israel's Prime Minister Benjamin Netanyahu supported Trump's decision, while also noting that the ceasefire does not include Lebanon, where Israeli forces have launched a ground invasion and are fighting with the Iran-aligned Hezbollah.Iraq's Ministry of Foreign Affairs welcomed the news of the ceasefire but stressed the need for full commitment to the deal to achieve a lasting resolution. Egypt's Ministry of Foreign Affairs said the ceasefire represents a very important opportunity for negotiations, diplomacy, and constructive dialogue.The United Nations Secretary-General Antonio Guterres welcomed the announcement and called on all parties to abide by the terms of the ceasefire. Japan's Chief Cabinet Secretary Minoru Kihara said Tokyo welcomes the news of a two-week ceasefire between the US and Iran as a positive move.Indonesia's Foreign Ministry called on Iran and the US to respect the sovereignty, territorial integrity, and diplomacy of each side. Malaysia's Ministry of Foreign Affairs said the ceasefire marks a significant development and serves as a crucial step towards de-escalating tensions and restoring peace and stability to the Middle East.Australia's Prime Minister Anthony Albanese and Minister for Foreign Affairs Penny Wong issued a joint statement welcoming the news and expressing their hopes that the deal will lead to a long-lasting resolution. New Zealand's Minister of Foreign Affairs Winston Peters said his government welcomes the news of a ceasefire, although many concerns remain.

Ben Delo, a British billionaire convicted in the US for failing to implement adequate anti-money-laundering controls in his cryptocurrency business, has donated £4m to Reform UK, the party founded by Nigel Farage. Delo, who is now based in Hong Kong, made the donation since the start of the year, before the government's cap on donations to political parties by British citizens living abroad.Delo, 42, who was pardoned by Donald Trump last year, is moving back to the UK and therefore will not in future be subject to the new rules for donors. He explained his motivations for turning to Reform UK, saying England was his home and that “the biggest obstacle to national recovery is the entrenched self-deception of our elites”.In his article for the Telegraph, Delo wrote that he had donated £4m to help Nigel Farage build Reform UK into a “genuine alternative party of government”. He cited his dissatisfaction with the current political culture, stating that “the official culture of government now forces everyone to be chronically dishonest”, citing expression of views on transgender people.Delo was convicted in the US in 2022 after pleading guilty to violating the Bank Secrecy Act by failing to implement adequate anti-money-laundering controls at BitMEX, the trillion-dollar cryptocurrency exchange he co-founded. He has poured more than £100m into philanthropy and supports more than 50 organisations ranging across the political spectrum and public life.Nigel Farage welcomed Delo's support, saying it would help Reform attract more of the skills and talents needed to get ready for government. “Ben’s support will help Reform attract more of the skills and talents we need to get ready for government,” Farage told the Telegraph.

The recent US-Iran ceasefire agreement has not led to a significant change in the situation for ships trying to pass through the Strait of Hormuz. According to shipping analysts, there will be no 'mass exodus' of ships through the strait, despite provisions for a temporary reopening of the crucial maritime channel.The ceasefire agreement 'doesn't change the situation in the sense that Iran is still in control,' said Richard Meade, the editor-in-chief at maritime data provider Lloyd's List Intelligence. 'It still requires ships to essentially seek permission, and that's the key. That means that nothing has changed – no permission, no transit.'An estimated 2,000 ships and 20,000 seafarers have been trapped in the Persian Gulf since the outbreak of war at the end of February, according to the UN, unable to pass through the strait to continue their journeys. The trapped vessels include oil and gas tankers, bulk carriers, and cargo ships as well as six tourist cruise liners.Under Iran's 10-point ceasefire plan, the country's foreign minister said safe passage through the strait would be allowed under Iranian military management. However, analysts believe that Iran will continue to control the flow of traffic, and few expect traffic to return to normal daily averages during the two-week ceasefire.The head of the UN shipping agency, the International Maritime Organization (IMO), welcomed the ceasefire and called for a safe evacuation of seafarers from the Gulf. Arsenio Dominguez, the secretary-general of the IMO, said: 'I am already working with the relevant parties to implement an appropriate mechanism to ensure the safe transit of ships through the strait of Hormuz. The priority now is to ensure an evacuation that guarantees the safety of navigation.'

U.S. Senator JD Vance released a video appeal urging Iran to demonstrate good faith amid a fragile ceasefire. Vance emphasized that the ceasefire's stability hinges on responsible actions from all parties, warning that any deviation could jeopardize the tenuous peace. The senator’s message underscores the broader diplomatic challenges facing the region and highlights the importance of sustained commitment to de‑escalation.

Oil markets experienced a dramatic correction on Wednesday, with Brent crude falling 13.9% to $94.10 per barrel and U.S. WTI futures sliding almost 16% to $95, marking the steepest daily percentage drop since the COVID‑19 crash of April 2020. Despite the plunge, prices remain well above pre‑conflict levels, when Brent traded below $73.The price shock followed President Donald Trump's announcement of a two‑week, conditional ceasefire with Iran, contingent on Tehran reopening the strategic Strait of Hormuz for oil tankers. Iran’s foreign minister, Abbas Araghchi, confirmed the strait would be managed by the Iranian military during the grace period, while Iran’s national security council accepted the ceasefire on the condition that U.S. attacks be halted.Equity markets reacted positively. The pan‑European Stoxx 600 surged 4%, its biggest one‑day gain in over four years. In the UK, the FTSE 100 climbed nearly 3% to 10,646 points, its highest level since the early days of the Iran war. Travel and leisure stocks led the rally, with Air France up 14.5%, Lufthansa +11%, IAG +9.5% and TUI +12%.Oil majors were the notable laggards; BP and Shell each lost more than 5% as investors priced in continued supply uncertainty. Asian markets also posted strong gains: Japan’s Nikkei 225 rose over 5%, Australia’s S&P;/ASX 200 jumped 2.55%, South Korea’s Kospi surged 7.5%, Hong Kong’s Hang Seng added 3.1% and China’s CSI300 climbed 3.2%.Bond yields eased on the ceasefire news. The U.S. 10‑year Treasury yield fell to 4.24% from 4.30%, while the UK 10‑year gilt slipped to 4.7% from 4.9%.Safe‑haven assets rallied as well: gold rose more than 2% to $4,812 per ounce, and cryptocurrencies recovered, with Bitcoin up 2.9% to $71,327 and Ether gaining 5.6% to $2,234.Market strategists emphasized the provisional nature of the relief. Jim Reid, Deutsche Bank markets strategist, warned that “investors will be breathing a big sigh of relief, but the durability of the ceasefire remains the key risk.” He noted ongoing Israeli‑Iran strikes and unclear extensions to Lebanon could reignite volatility.Energy analyst Saul Kavonic (MST Financial) described the pause as “an off‑ramp for Trump’s bombastic ultimatum, but not yet an off‑ramp for oil markets or the war.” He expects a limited release of tankers from Hormuz in May, which would ease storage pressure without boosting production.Capital Economics chief economist Neil Shearing highlighted potential transit fees for Hormuz passage, estimating a $1‑2 million charge per tanker—equivalent to roughly $1 per barrel—would have a modest effect on global oil prices but could signal a de‑facto partial nationalisation of the route.TD Securities senior strategist Prashant Newnaha cautioned that “renewed escalation cannot be ruled out, but markets are treating this ceasefire as the real deal, and all parties will sell it as a major win.” He added that oil prices are unlikely to revert to pre‑war levels, keeping inflationary pressures alive.Earlier in the week, U.S. equities swung sharply, with the S&P; 500 dipping 1.2% before rebounding after Pakistan’s prime minister urged Trump to extend the deadline and keep the strait open.The conflict, which began after the U.S. and Israel struck Iranian targets in late February, has choked the Strait of Hormuz—through which about 20% of global oil and LNG supplies flow—fueling a worldwide energy crunch.

President Donald Trump issued an unprecedented ultimatum on Tuesday, stating that if Iran does not reopen the Strait of Hormuz by 8 p.m. ET, he will "completely annihilate the entirety of Iranian civilization." The threat, posted on his Truth Social platform, was accompanied by language suggesting a total regime change and a benediction to the Iranian people. Democratic officials reacted with alarm. Senator Patty Murray called the post "the rantings of a bloodthirsty lunatic," while Senator Chris Coons labeled it "a threat to commit a war crime." Representative Joaquin Castro warned that the rhetoric implied either a nuclear option or an attempt to convince Tehran of such a possibility, and Rep. Bonnie Watson Coleman urged invoking the 25th Amendment to remove the president from office. Legal scholars highlighted that the United States and Iran are parties to the Fourth Geneva Convention, which bans collective punishment of civilian populations, and to Additional Protocol I, which prohibits attacks on essential civilian infrastructure. Although the U.S. has not ratified the protocol, a 2024 Biden‑era statement affirmed that its core principles are binding as customary international law. During a chaotic White House press conference, Trump reiterated that "the entire country could be taken out in one night" if Iran failed to meet the deadline, and dismissed concerns about civilian casualties by claiming Iranian civilians themselves were urging continued bombing. When pressed about violations of the Geneva Conventions, he did not dispute the legal point but responded, "I hope I don’t have to do it." The Iranian Islamic Revolutionary Guard Corps responded that the strait "will never return to its previous state" for the United States and its allies, underscoring the escalating rhetoric on both sides. Amid the diplomatic flare‑up, the administration also submitted a $1.5 trillion Pentagon budget request, featuring sweeping cuts to domestic programs, further intensifying scrutiny of the president’s foreign‑policy priorities. Critics note contradictions in Trump’s stance: weeks earlier he claimed the U.S. had no strategic need for Hormuz, yet now the strait’s reopening is the centerpiece of his ultimatum. He simultaneously declared the war "won" while threatening its most destructive phase. With Democrats urging constitutional remedies and international law experts warning of potential war‑crime violations, the situation places U.S. foreign policy and domestic governance under unprecedented pressure.

In the run-up to the state assembly election in Assam, India, the ruling Bharatiya Janata Party (BJP) is employing a strategy that combines Hindu nationalism with welfare schemes to woo voters.The party, led by Prime Minister Narendra Modi, has been accused of pursuing a hardline Hindu supremacist agenda in Assam, coupled with a xenophobic campaign targeting the state's Muslim population, which constitutes 34% of Assam's 31 million people.At a recent election rally in Morigaon district, BJP leaders highlighted the welfare schemes launched by Chief Minister Himanta Biswa Sarma's government, including a direct benefit transfer scheme called Orunodoi, which provides financial aid to women. Nitin Nabin, the BJP's national president, claimed these schemes benefited the Assamese people, especially women.The BJP's strategy in Assam has been described as a 'cocktail of Hindutva and welfarism' by Akhil Ranjan Dutta, a political science professor at Assam's Gauhati University. 'The BJP is experimenting with a brand of Hindutva by co-opting Indigenous armed struggle and cultural nationalism, while solidifying Hindu identity and othering the Bengali Muslims.'The party's election promises have heightened anxiety among Bengali-speaking Muslims, who fear more crackdowns on their community, including a proposal to implement a Uniform Civil Code, which critics say will override Muslim personal laws.Opposition parties and analysts argue that the BJP is mainly milking two cash transfer schemes – Orunodoi and Udyamita – to influence voters in this election. Economist Joydeep Baruah estimates that at least 10 to 15% of the scheme's four million women beneficiaries could vote for the BJP.The BJP's tactics have been criticized by opposition parties and human rights groups, who accuse the party of vote buying and polarizing the electorate along communal lines.

Israel's newly approved $271 billion budget has sparked concerns over its implications for the occupied West Bank, with a significant portion allocated to settlement expansion and far-right ideological projects. The budget, the largest in Israel's history, was passed early on Monday from a fortified bunker, amid the ongoing conflict with Iran.The ruling coalition has bypassed legal frameworks to direct billions towards these goals, citing national security concerns. A key allocation is $129.5 million to the Ministry of Settlement and National Missions, which authorizes illegal Jewish-only settlements and outposts on Palestinian land.Finance Minister Bezalel Smotrich, a settler himself, has been granted sweeping powers over the occupied territory and has openly opposed the two-state solution. Prime Minister Benjamin Netanyahu has echoed this sentiment, stating there will be no Palestinian state west of the Jordan River.The budget also includes funds for projects such as building bypass roads through Palestinian towns, providing protection for illegal settlement outposts, and incorporating armed settlers into the state's civilian security apparatus. These moves are seen as entrenching the occupation and empowering far-right elements of Netanyahu's government.The allocation comes against a backdrop of surging violence by settlers and Israeli armed forces' raids on Palestinian communities across the West Bank, which have intensified since the onset of Israel's war on Gaza in October 2023. UN data shows nearly 3,000 attacks on Palestinians in the West Bank over the past two years.The budget's passage has highlighted divisions within the Israeli opposition, with Yair Lapid accusing rival parties of being more focused on criticizing his party than uniting against the governing coalition. Analysts warn that the spending bill will have severe long-term consequences, including further destabilizing the region and undermining any future viable Palestinian state.