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Politics May 22, 2026

Trump Shifts Between Diplomacy and Threats in Iran Standoff

US President Donald Trump has oscillated between expressing hope for a lasting ceasefire and threat…
The Shifting Tides of Trump's Iran Policy In a week that began with Donald Trump revealing he was just an hour away from 'making the decision' to resume attacks on Iran, the United States president has oscillated between expressing hope for a lasting ceasefire and threatening military escalation. Diplomacy and Threats Trump's mixed messaging has also coincided with a renewed flurry of diplomacy, with Iran as of Thursday saying it had received and was reviewing Washington's response to Tehran's latest ceasefire proposal. The Hawkish Advisers Trump, meanwhile, appeared to indicate an appetite for a third option: a prolonged, grinding conflict. On Thursday, he reposted a New York Post op-ed by Richard Goldberg, a senior adviser at the Foundation for Defense of Democracies, a pro-Israel think tank that has long supported military action against Tehran. Trump's Statements This Week The Trump administration has continually sent broad and at times contradictory messages on Iran, even preceding the war. On Sunday, Trump threatened that the 'clock is ticking' for Iran, the latest instance of the US signalling an end to the current halt to fighting, which has run parallel to an ongoing naval blockade of Iran's ports. The Strategic Dilemma While Trump's supporters have characterised his everything-on-the-table approach as part of a wider 'mad man' foreign policy approach, others have said it reflects the president's entrenched dilemma as he tries to claim a convincing victory in the conflict.
#Donald Trump #Iran #United States
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Politics May 22, 2026

Democratic Party's Flawed Autopsy Report Reveals Key Failures in Kamala Harris's Campaign

The Democratic Party released an incomplete autopsy report examining Kamala Harris's 2024 election …
The Democratic Autopsy Report: Incomplete and InconclusiveThe Democratic Party in the United States has released its long-awaited report examining why former Vice President Kamala Harris failed to beat Donald Trump in the 2024 presidential election. However, the so-called autopsy document was incomplete and inconclusive – riddled with factual mistakes and annotations questioning its assertions. DNC Chair Ken Martin acknowledged the report's shortcomings, stating that transparency was paramount and releasing it in its current state was better than withholding it entirely.The Omission of Gaza: A Critical OversightLeading up to the 2024 vote, Israel's genocidal war on Gaza was one of the most contentious and divisive issues for the Democrats and Harris. The Biden-Harris administration provided nearly $18bn to fund Israel's assault on Gaza and vetoed several UN Security Council resolutions calling for a ceasefire. This uncompromising pro-Israel policy caused some segments of the Democratic base to turn against Harris. Yet, there are zero mentions of Gaza and Israel in the 192 pages of the autopsy report, despite polls suggesting it was a top issue for voters who abandoned Harris.The Report's Flaws: Missing Sections and Factual ErrorsThe DNC released the report in its unvarnished format, revealing significant problems. Several sections – including the executive summary and conclusion – were entirely missing, replaced with the word 'pending' and the annotation 'this section was not provided by author.' The document also makes numerous questionable and false assertions, with annotations such as 'claim contradicts public reporting' and 'data appears to be inaccurate and contradicts public reporting.' Basic facts were wrong, including the number of gubernatorial races Democrats won in 2024.Campaign Strategy Failures: Insufficient Support and Negative MessagingThe report highlighted several strategic failures in the Harris campaign. It criticized the Biden administration for not adequately supporting Harris, noting that polling was done for how Jill Biden could support Joe Biden, but no similar research was done for Harris. The audit also faulted the White House for assigning Harris immigration responsibilities without adequate political training. Additionally, the campaign's 'not Trump' approach failed to effectively define Harris beyond her opposition to Trump, and when negative messaging was used against Trump, it did not highlight his flaws effectively.The Transgender Ad: A Campaign-Defining MomentOne of the most memorable commercials of the campaign season – an ad featuring Harris saying she supports access to sex change surgeries for 'every transgender inmate' – proved particularly damaging. The commercial played video of Harris making that statement and concluded with a narrator saying, 'Kamala is for they/them'; President Trump is for you.' Pollsters recognized the attack as very effective, leaving the campaign 'boxed' with no effective response. The report noted that given the stakes and timing, the focus needed to be on attacking Trump rather than defending on this issue.Future Implications for Democrats: Lessons from a Flawed AnalysisDespite its flaws, the autopsy report offers some insights for the Democratic Party as it looks ahead to future elections. The DNC chair acknowledged that the report did not meet his standards and that actionable takeaways were lacking. The absence of a substantive analysis on key issues like Gaza suggests the party may still be grappling with how to address divisive topics within its base. Moving forward, Democrats will need to develop more positive messaging, better support for candidates, and more effective strategies for addressing controversial issues that alienate key segments of their potential voting coalition.
#Kamala Harris #Democratic Party #Donald Trump
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Politics May 21, 2026

Trump's Potential Call with Taiwan's Leader: A Diplomatic Shift

President Donald Trump has suggested that he may speak with Taiwan's President William Lai Ching-te…
The Diplomatic Implication President Donald Trump has twice suggested, since his summit with China’s President Xi Jinping in Beijing last week, that he may speak with Taiwan’s President William Lai Ching-te. That would mark the first direct contact between leaders of the governments since the US switched diplomatic recognition from Taipei to Beijing in 1979. It remains committed, however, under the 1979 Taiwan Relations Act to supporting the defence of the self-governing democracy. Taiwan's Response In a foreign affairs ministry statement on Wednesday, Taiwan’s President responded to Trump’s comments, saying he would be “happy” to talk to him. Taiwan was committed to maintaining a stable status quo in the Taiwan Strait, he added, but “China is the disruptor of peace and stability”. Beijing regards Taiwan as part of Chinese territory. The Data Analysis The statement comes as the White House considers a $14bn arms deal with Taiwan. China’s foreign ministry responded saying it “firmly opposes official exchanges” between the US and Taiwan, as well as US arms sales to the island. The Impact Analysis Trump’s comments suggest he may be willing to break with decades of diplomatic protocol, which will likely jar with Beijing, say analysts. Based on past events, Beijing will not be happy if Trump does meet with or talk to Taiwan’s president. When the former US House Speaker Nancy Pelosi visited Taiwan in 2022, her two-day visit sparked heightened tensions between the two countries. The Prediction Analysts say that included in its response is an awareness in Beijing that Trump is unreliable and unpredictable. If Trump calls Lai and announces that the US will “continue to support Taiwan and provide a large arms package; all hell will break loose”. However, he said, the very fact that Trump even entertained the idea of speaking with Xi about whether the United States would sell weapons to certain countries was a win for Beijing.
#Donald Trump #Taiwan #China
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Sports May 21, 2026

Arteta Built a Garden Fire While Arsenal Clinched Their First Premier League Title in 22 Years

Mikel Arteta admitted he left the training ground to build a fire in his garden as Arsenal secured …
Lead: A Manager’s Unusual CelebrationMikel Arteta chose a backyard barbecue over the live broadcast when Arsenal clinched the Premier League, describing the experience as "building a fire" while his family celebrated the historic triumph.Garden Fire and Family Joy: The Moment Arsenal Won the TitleArteta headed to the training ground to watch Manchester City’s draw at Bournemouth with his squad, but 20 minutes before kick‑off he returned home, unable to bear the tension. In his garden he lit a fire, barbecued, and heard his son Gabriel announce, “We’re champions, Daddy.” His wife and other children joined, creating a personal celebration separate from the players.Numbers That Matter: Breaking a 22‑Year DroughtFirst league title for Arsenal in 22 years.Three consecutive runners‑up finishes prior to this season.Arsenal’s historic comeback solidifies their place at the top of the Premier League table.Why It Changes Arsenal’s NarrativeThe victory underscores Arteta’s emphasis on perseverance, humility and resilience—values he says were as important off the pitch as on it. By confronting his own doubts about being “good enough,” Arteta set a tone of vulnerability that resonated with the squad, fostering a culture that could sustain future success.Looking Ahead: Champions League Ambitions and Squad OutlookWith Arsenal hopeful that Jurriën Timber will be fit for the upcoming Champions League final against Paris Saint‑Germain, and Mikel Merino back in training, Arteta’s next challenge is to translate domestic dominance into European glory. The manager’s focus remains on staying humble, curious, and goal‑oriented as the club prepares for the Budapest final.
#Mikel Arteta #Arsenal #Premier League
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Sports May 21, 2026

Ash Moloney's Olympic Journey: From Decathlon Glory to Hurdles Challenge

Australian Olympic bronze medalist Ash Moloney has transitioned from the decathlon to the 400m hurd…
The Olympic LegacyAsh Moloney briefly became the face of Australian athletics after securing the country's first Olympic decathlon medal in dramatic circumstances at the Tokyo 2021 Games. The 26-year-old surged home in the 1500m, egged on by teammate Cedric Dubler, to claim bronze in a moment that inspired a nation. This achievement represented the pinnacle of his decade-long career in the grueling 10-discipline event.The TransitionAfter years of injury recovery, a new coaching relationship, and what he admits was sheer boredom with the decathlon, Moloney has made a bold and risky transformation. He has abandoned the event that brought him glory to pursue a new career in the 400m hurdles. "It's just fun, it's a completely different challenge," Moloney explains of his switch. "I've been ambidextrous my whole life, I can sprint hurdle on both legs. It almost just seemed like why not? Why not give it a try? Get that question out of my head."The Performance DataMoloney's rapid improvement in his new event is remarkable. Since his first competitive 400m hurdles in February, when he finished in 57 seconds, he has consistently lowered his times. Two weeks later in Hobart he ran sub-53s, before recording two times under 52s before nationals in April. At the national championships, he ran under 50 seconds for the first time, finishing third in the final. "I believe I can make Comm Games," Moloney says. "I believe I can go 48 [seconds]."The Impact on Australian AthleticsMoloney's transition comes at a significant moment for Australian athletics. Before the emergence of new generation athletes like Gout Gout and Lachie Kennedy leading Australia's charge towards Brisbane 2032, Moloney represented the future of the sport. His move to hurdles adds depth to Australia's middle-distance and hurdles program, complementing the emergence of sprint stars like Lachie Kennedy, who is now also his coach.The Relationship EvolutionThe decathlon teammates' relationship was tested in the aftermath of Tokyo, with Moloney previously suggesting that the public's interest in Dubler's contribution sometimes overshadowed his own achievement. While Moloney offers only a "no comment" when asked to elaborate on their current relationship, Dubler maintains there's no bad blood. "It's just a change of situation, a change of coaches and perspective," Dubler explains. The two athletes have chosen different paths since the Games, with Dubler continuing to compete in decathlon while targeting his own Commonwealth Games selection.The Future OutlookWith Moloney and Dubler now competing in different events, Australian athletics stands to benefit from their specialized focus. Moloney's renewed enthusiasm for his new event, freed from the physical toll of ten disciplines, has given him a fresh perspective on competition. "Honestly, I was bored with decathlon, I just wanted a new challenge," he admits. As he prepares for the Oceania championship showdown in Darwin and potentially the Commonwealth Games, the former Olympic bronze medalist is proving that reinvention can be as rewarding as achieving initial success.
#Ash Moloney #Cedric Dubler #Olympics
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Politics May 21, 2026

One Nation's Climate Science Denial: Why Australia's Populist Party Is Out of Step With Evidence

As One Nation surges in Australian polls, the party stands alone in its rejection of established cl…
The Lead: One Nation's Standalone Climate Denial As the populist right-wing One Nation party gains momentum in Australian polls, it maintains a firm stance against decades of climate science evidence showing the planet and Australia are warming. The party claims to be the only political force in Australia questioning climate science, but experts say this position is not only scientifically baseless but increasingly out of step with global trends in climate misinformation. The Event Details: One Nation's Climate Contradictions One Nation's position on climate change is rooted in denial and conspiracy theories, despite overwhelming scientific evidence. The party's energy and climate policies have previously been literal cut-and-pastes from the now-defunct climate denial group the Galileo Movement. Currently, One Nation rejects the scientific consensus that the planet and Australia are warming, claiming extreme weather was more prevalent before 1960—a position climate scientists have compared to believing the Earth is flat. The party also wants Australia to leave the Paris Agreement and would push to close down the federal climate change department "and all related agencies, regulations and programs." They proudly declare: "We are the only political party to question climate science." The Data Analysis: Australia's Unequivocal Warming Trend Despite One Nation's claims, Australia has experienced significant warming since 1910. The Bureau of Meteorology's official long-term climate dataset shows Australia has warmed by 1.5°C since 1910. Temperature readings before this period are not included in the official dataset because they were often taken with non-standardized equipment, making them less reliable. Research into pre-1910 temperature records shows temperatures from 1860 to 1909 were similar to those from 1910 to 1959. Since 1960, both maximum and minimum temperatures have risen significantly. The independent Berkeley Earth group's analysis of historical temperature data confirms Australia has warmed substantially since the 1880s. One Nation points to a single weather station in Newcastle (Nobby's) to claim no pattern of warming exists—a classic example of cherry-picking data while ignoring the broader evidence showing temperatures are warming across Australia. The Impact Analysis: Political Consequences of Climate Denial One Nation's climate denial positions have significant political implications in Australia. Research from CSIRO a decade ago suggested that views on climate change can be influenced by how a person votes, rather than the other way around. This means votes for One Nation could lead more people to reject established climate science. Dr. John Cook, an expert on climate science denial, notes that One Nation is "not only out of touch with the scientific evidence, they're even out of touch with the rest of the climate denial community." Over the past decade, climate misinformation has transitioned from science denial to attacking climate solutions, as the scientific evidence for human-caused global warming has become undeniable. Prof. Sarah Perkins-Kirkpatrick, a climate scientist at Australian National University, emphasizes: "There's a wealth of evidence that extreme heat events are increasing worldwide since the 1950s. We see increased intensity of droughts and heatwaves and the intensity of tropical cyclones is increasing." The Prediction: Future of Climate Politics in Australia As climate impacts worsen in Australia—with more frequent and intense heatwaves, bushfires, and extreme weather events—One Nation's climate denial stance may become increasingly untenable politically. The party's net zero conspiracies, including claims that climate action is part of a plot to create a "socialist Australia," are based on misinformation and misrepresentations of statements by figures like former World Economic Forum chair Klaus Schwab. One Nation's assertions that renewable energy is causing electricity price increases are also contradicted by experts. Research from CSIRO suggests that if 82% of Australia's electricity came from renewables backed by storage, the cost of generation would be a third less than current prices. The real drivers of rising electricity costs are aging infrastructure and rising international gas prices, not the transition to renewables. As Australia faces increasing climate impacts, political parties that reject established climate science may find themselves increasingly isolated, both scientifically and politically. The future of Australian climate politics may depend on how mainstream parties respond to One Nation's misinformation and whether they can effectively communicate the scientific consensus on climate change.
#One Nation #Climate Change #Australia
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Tech May 21, 2026

Nvidia Posts Record $58.3B Profit Amid AI Chip Boom

Nvidia has announced record quarterly profit of $58.3 billion and revenue of $81.6 billion, driven …
The Record-Breaking Quarter Nvidia has announced record quarterly profit and revenue amid explosive demand for its advanced AI chips. The US tech behemoth said on Wednesday that profit soared to $58.3bn for the February-April period, up 37 percent from the previous quarter and more than 200 percent year-on-year. Revenue jumped to $81.6bn, up 20 percent from the prior quarter and 85 percent compared with the same period in 2025. Nvidia forecast revenue for the current quarter to hit $91bn, more than most analysts' estimates. The AI Chip Surge Nvidia's data-centre business was the main driver of growth, with quarterly revenue surging 92 percent year-on-year to $75.2bn. The Santa Clara, California-based chip giant's hardware unit racked up revenue of $6.4bn, up 29 percent from the previous year. In a sweetener for shareholders, the world's most valuable company said it would buy back an additional $80bn in shares and raise its quarterly cash dividend from $0.01 a share to $0.25 per share. Nvidia CEO Jensen Huang hailed the "extraordinary" results as proof of the growing utility of AI. "Demand has gone parabolic," Huang said in a conference call with investors and analysts. "The reason is simple. Agentic AI has arrived," Huang said, referring to the advent of semi-autonomous AI models. "AI can now do productive and valuable work." Market Expectations vs Reality Despite once again blasting past analysts' expectations, Nvidia's latest results received a muted market response. Shares in Nvidia fell nearly 1.3 percent in after-hours trading, an indication of the sky-high expectations attached to a company whose blistering growth since 2022 has lifted its market capitalisation to more than $5 trillion. "Expectations are very high, and when a company like Nvidia has been doing as well as it has for so long, it takes a lot for people to get excited," Jay Goldberg, a senior analyst for semiconductors and electronics at Seaport Research, told Al Jazeera. "That's just kind of the nature of Wall Street." "All these stocks have run a lot this year, but a lot of it is driven by press releases," Goldberg said, adding that tech firms have yet to demonstrate a "broad-based consumer case" for AI. The AI Valuation Debate Nvidia's spectacular rise and the sky-high valuations of other tech giants, such as Microsoft and Amazon, have stirred discussion about whether AI is overhyped and creating a massive market bubble. William Rhind, the CEO and founder of New York-based investment firm GraniteShares, said the muted reaction showed that expectations had "caught up to fundamentals." "Nvidia is no longer beating a high bar – it is the bar," Rhind told Al Jazeera. Rhind said the bullish case for Nvidia nonetheless remains strong, pointing to the dividend hike and share buyback scheme as signs of a company with "more cash than it can possibly redeploy into the business". "When the marginal use of capital starts shifting toward buybacks and dividends, you're watching a hypergrowth story begin to mature in real time," he said. "That's not bearish – it's a different kind of bullish." Future Outlook John Belton, a portfolio manager at Gabelli Funds, said Nvidia's latest results should not "dramatically shift the story one way or another". "Overall, another solid earnings," Belton told Al Jazeera, saying the results mirrored the "strong numbers" of previous quarters "albeit without any new earth-shattering developments." As Nvidia continues to dominate the AI chip market, the company faces the challenge of maintaining its extraordinary growth trajectory while navigating increasing scrutiny about whether current valuations reflect sustainable business fundamentals or speculative enthusiasm.
#Nvidia #AI chips #Jensen Huang
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Politics May 21, 2026

No Formal Security Vetting Found for Prince Andrew’s Trade Envoy Role, Says Minister

The UK government confirmed that no formal security vetting or due‑diligence was carried out before…
Executive SummaryThe government has found no evidence that a formal security vetting or due‑diligence process was undertaken for Prince Andrew when he was appointed UK trade envoy in 2001. The revelation follows a Liberal Democrat parliamentary request for historic documents and revives scrutiny over royal participation in sensitive diplomatic posts.Absence of Formal Vetting in Prince Andrew’s Trade Envoy AppointmentHistoric paperwork released by the Department for International Trade shows that the appointment was driven by Queen Elizabeth II’s personal wish, conveyed in a memo from David Wright to then‑Foreign Secretary Robin Cook. The memo and subsequent documents contain no reference to any security clearance, background checks, or risk assessments, despite the role granting access to senior government and global business contacts.Document Timeline and Key Figures25 February 2000: Memo from David Wright to Robin Cook cites the Queen’s “wish” for the Duke of York to take the trade envoy role.2001: Prince Andrew formally appointed by Tony Blair as the UK’s special representative for international trade and investment.May 2026: Government publishes 11 documents after a Liberal Democrat humble address demanded disclosure of vetting records and related correspondence.Political and Institutional ImpactThe episode highlights a broader tension between the royal family’s informal diplomatic activities and modern expectations of transparency and security. Critics argue that bypassing standard vetting undermines confidence in the integrity of trade promotion, especially given later allegations linking the envoy to confidential information leaks involving Jeffrey Epstein. The Liberal Democrats’ successful push for document release may set a precedent for future parliamentary scrutiny of royal appointments.Outlook: Calls for Vetting Reform and Royal AccountabilityParliamentary committees are expected to examine whether existing protocols adequately cover unpaid, high‑profile roles occupied by members of the royal family. If reforms are enacted, future appointments could require formal security clearances comparable to those for senior civil servants, reducing the risk of reputational damage and potential breaches of confidential information.
#Prince Andrew #Chris Bryant #Tony Blair
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Economy May 21, 2026

The Economics of Hormuz: Calculating the Cost of Iran's Transit Toll

As the Strait of Hormuz remains closed eleven weeks into the Iran war, this analysis examines wheth…
The LeadEleven weeks after the start of the Iran war, the Strait of Hormuz has remained closed to naval traffic, bleeding the global economy far beyond the Gulf. Iran's Islamic Revolutionary Guard Corps (IRGC) maintains an iron grip over this narrow, strategic waterway, while a corresponding United States naval blockade on Iranian ports has failed to reopen it.Before the war began, between 120 and 140 ships travelled through the strait each day, about half of them oil tankers carrying some 20 million barrels of oil between them. Now, only a few vessels whose owners have negotiated with the IRGC are permitted to pass.The Strategic Control of HormuzOn Wednesday, Iran said it coordinated the transit of 26 vessels through the Strait of Hormuz in 24 hours, two days after announcing the formation of the Persian Gulf Strait Authority (PGSA), a new body to provide "real-time updates" on operations in the strait.Since the announcement of a temporary ceasefire between the US and Iran in April, Iran has been working on formalising a mechanism to charge a transit fee from ships crossing the critical chokepoint, through which 20 percent of the world's oil and liquefied natural gas (LNG) are shipped during peacetime.Tehran has reportedly already charged fees as high as $2m per ship for transit since the war started. Even though countries opposing Tehran say this is illegal, it may still be less expensive than the overall cost of the closure of the strait each day.The Economic Cost of BlockadeNearly one-fifth of global oil and LNG exports were shipped by Gulf producers through the Strait of Hormuz before the US and Israel bombed Iran on February 28, triggering the Iranian closure of the waterway. The strait is the only waterway linking Gulf producers to the open ocean – there is no other route through which they can ship exports.About 20.3 million barrels per day of oil passed through the Strait of Hormuz in peacetime – nearly 27 percent of global maritime oil trade. The lion's share of that crude went to Asian markets.Global LNG trade has been similarly hard hit. On the day before the war broke out, Brent crude – the global benchmark for oil prices – closed at $72.48 per barrel. After Iran closed the waterway on March 4 and began attacks on vessels attempting to sail through, traffic came to a standstill, stranding about 2,000 ships on either side of the strait.In terms of lost oil revenues, this amounts to $114.8bn of losses per day. About 10 billion cubic feet of LNG per day also used to pass through the strait, worth a further $7.8bn.The Cost-Benefit Analysis of Transit FeesFor hundreds of ships stranded in the Gulf with thousands of sailors on board, the cost of remaining anchored is steep, including crew wages, loan repayments, repair and management, coupled with inflated war risk premiums.In turn, Iran has reportedly been charging up to $2m for authorisation to pass. Experts say many will see this as worthwhile purely in terms of monetary cost."There is no doubt that paying Iran is cheaper than a continuous blockade because a sitting tanker bleeds money," said Nader Habibi, an Iranian American economist."It makes sense from an economic point of view, but it is not politically feasible," he added. "The companies are under pressure from the US sanctions and not to make arrangements with Iran. This is not just a purely economic cost-benefit analysis, but long-term considerations that are taken into account."International Legal PerspectivesInternational law protects free transit through strategic waters such as natural straits like Hormuz, barring countries from imposing passage tolls even where the waterways fall entirely into territorial waters, like in the case of Hormuz.However, services such as security controls, inspections and insurance regimes can be charged for. Chargeable fees also partly depend on whether a waterway is a man-made passageway or a natural one.These are three different precedents in maritime traffic flow:Panama Canal: An artificial waterway connecting the Atlantic and Pacific oceans. Vessels pass through a unique system of locks that raise and lower vessels across elevated terrain. Since Panama built, maintains and operates the canal, it can charge transit fees based on vessel size, cargo capacity and booking priority. These range from several hundred thousand dollars per transit to some slots sold for millions of dollars.Suez Canal: Another artificial canal, linking the Mediterranean and Red seas. Egypt charges transit fees for the use of canal infrastructure, maintenance and traffic management services through the narrow waterway. Container ships and oil tankers pay from several hundred thousand dollars to more than one million dollars per voyage.Turkiye's Bosporus Strait and Dardanelles: These are different because they are natural straits, rather than man-made canals. Turkiye charges for navigation-related services such as lighthouse operations, rescue readiness, medical support and traffic management – and tightly controls ship scheduling and navigation.Regional Cooperation PossibilitiesIran's newly-formed PGSA published a new map of Hormuz, stretching from Kuh-e Mubarak in Iran to south of Fujairah, in the UAE, at the eastern entrance of the strait, and from the tip of Qeshm Island to Umm al-Quwain at the western entrance.Given how the Iran war has spilled over into the Gulf region – with the UAE taking the brunt of Iranian strikes – economist Mohammad Reza Farzanegan said "regional cooperation with Iran is the most realistic path to stable transit through the Strait of Hormuz."The UAE, Oman, Qatar and Iran will have to work together because their economies require it, he argued. A workable arrangement could include a joint maritime authority, shared monitoring, emergency coordination, environmental protection and service-based contributions for maintaining safe passage."This would give Iran a recognised role in the security of the waterway while giving Persian Gulf economies more predictability," Farzanegan added. "Such a framework is also more realistic than relying on external military enforcement, which has been more a source of trouble for these states."The Future OutlookWhile it may seem that the economics of the closure of the strait are currently skewed towards Iran, Aniseh Tabrizi, an associate fellow on the Middle East and North Africa Programme at think tank Chatham House, noted that "the economics by itself is not going to be the driver to change calculation or move from the current standpoint."She emphasized that Iran and the US need to reach a "diplomatic compromise, with other calculations linked in to the economic factor", before there can be an end to the energy supply crisis.Farzanegan added that if the world expects stable access to the Strait of Hormuz, then paying Iran could well be accepted as the price of keeping the vital waterway predictable. "From an economic perspective, a negotiated transit arrangement [with Iran] now makes more sense than continued closure," he concluded.
#Iran #Strait of Hormuz #Oil Prices
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