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Donald Trump's Iran war has ended in a humiliating defeat, with the US president now being held hostage by the very country he sought to dominate. Despite his initial boasts of a "short-term excursion", Trump's military adventure has failed to achieve any of its stated objectives, including regime change and access to oil wealth. The Iranian military has successfully asserted its control over the Strait of Hormuz, a critical waterway for global oil shipments, and has demonstrated its capacity to wreak havoc on the Gulf states. The Organization for Economic Cooperation and Development has forecast a spike in inflation to 4.2% in the US, a 40% increase since Trump returned to office, and the stock market has dived into correction territory. Trump's attempts to justify his blunder and extricate himself from its dire consequences have been met with skepticism. His denial of any wrongdoing is too vehement to be convincing, and his calls for NATO countries to rescue him while insulting them as "cowards" have fallen flat. Iran has leveraged its control of the Strait of Hormuz to secure concessions from Trump, including the lifting of oil sanctions and safe passage for eight oil tankers. The Iranian government has rejected Trump's latest offer of negotiations "until complete victory", and Trump's threats of "obliteration" have been met with defiance. The Trump administration's decision-making process has been marred by ignorance, incompetence, and self-interest. Trump's advisors, including Steve Witkoff and Jared Kushner, have been accused of lacking expertise and misunderstanding key technical realities, leading to a series of catastrophic mistakes. In the end, Trump's Iran war has been a classic example of a conflict launched willfully through ignorance and sheer stupidity, with devastating consequences for the US economy and global stability.

Donald Trump has indicated a shift in his administration's stance on oil shipments to Cuba, stating that he has 'no problem' with countries sending oil to the island, whether it's Russia or not. This development comes as a Russian oil tanker, under US sanctions, was set to arrive in the Caribbean island. The Russian tanker, Anatoly Kolodkin, carrying 730,000 barrels of crude, could soon discharge at Cuba's Matanzas port. This shipment would provide significant relief to Cuba, which has not received any oil imports for three months, leading to strict rationing of gasoline and exacerbating an energy crisis that has resulted in multiple power outages across the island. Cuba lost its main regional ally and oil supplier in January when US forces captured Venezuela's president, Nicolás Maduro. Trump subsequently threatened to impose tariffs on any country sending oil to Cuba and has mused about 'taking' the island. The US oil blockade has forced Cuba to impose emergency measures to conserve fuel, including strict rationing of gasoline. Fuel prices have soared, public transport has dwindled, and some airlines have suspended flights to Cuba, hitting the country's fragile economy. Jorge Pinon, an expert on Cuba's energy sector at the University of Texas at Austin, noted that once the Russian tanker enters Cuban waters, it 'is almost impossible for the US government to stop it.' The Russian shipment could be converted into 250,000 barrels of diesel, enough to cover the country's demand for about 12.5 days, according to Pinon.

Cuba has extended an invitation to Cuban Americans and other exiles living abroad to invest in and own businesses on the island, effectively opening its doors to a community that has traditionally agitated for harsh economic sanctions against the Communist government. The move is part of a broader effort to revive Cuba's collapsed economy, which has been exacerbated by a US-imposed oil blockade and sanctions leading to extended blackouts and shortages of fuel, food, and medicine. Cuban Deputy Prime Minister Oscar Perez-Oliva Fraga stated that there are no limitations for Cubans living abroad to participate in the country's development, including investing in larger projects, particularly in agriculture. This policy shift comes as Cuba has begun talks with the US, and US officials have indicated a desire for an economic opening as part of any bilateral agreement. The issue of allowing emigrants to invest in island businesses is sensitive, given the often-hostile stance of some exile communities towards the Cuban government. Economist Paolo Spadoni described the policy shift as 'pragmatic' but noted that Cuba should have initiated it years ago. He added that this change could be a catalyst for deeper US-Cuba economic ties, creating significant opportunities for US companies. With over 1 million Cubans having emigrated since 2021, this move represents a potential source of investment still largely untapped. The policy change occurs against the backdrop of strained US-Cuba relations, with US President Donald Trump having cut off Venezuelan oil shipments to Cuba and threatening tariffs on countries selling oil to Cuba.

Iran has granted safe passage through the Strait of Hormuz to ships from select countries, including Pakistan, India, and Turkey, despite its ongoing war with the United States. The strait, a vital waterway for global oil shipments, has been effectively blocked since the conflict began on February 28, causing oil prices to skyrocket above $100 per barrel.On March 2, Ebrahim Jabari, a senior adviser to the commander-in-chief of Iran's Islamic Revolutionary Guard Corps (IRGC), announced that the strait was 'closed' and warned that any vessels attempting to cross would be 'set ablaze' by the IRGC and the navy. This move led to a significant increase in oil prices, with Brent crude rising 2.5 percent to $105.70 on Monday, more than 40 percent higher than before the war began.Iranian Foreign Minister Abbas Araghchi revealed that Tehran had been approached by several countries seeking safe passage for their vessels, with the decision ultimately resting with the military. He confirmed that a group of vessels from 'different countries' had been allowed to pass through, although details were not provided.Pakistan was one of the first countries to have a ship pass through the strait, with a Pakistani-flagged Aframax tanker called Karachi sailing out of the Gulf on Sunday. India also secured permission for some of its vessels to pass through, with two Indian-flagged tankers carrying liquefied petroleum gas safely crossing the strait on Saturday.In addition, Turkey obtained permission for one of its ships to pass through the strait after authorities received approval from Tehran. China is reportedly in talks with Iran to secure safe passage for its crude oil and Qatari liquefied natural gas carriers, with 45 percent of China's oil imports passing through the strait.Meanwhile, France and Italy have requested talks with Iran regarding safe passage for their ships, according to reports. The US has proposed a naval coalition to secure the strait, but countries such as Germany and Greece have ruled out military involvement.

Iran's Foreign Minister Abbas Araghchi has accused the United States and Israel of causing disruptions to shipping in the Strait of Hormuz, a vital waterway through which one-fifth of the world's oil shipments pass.In a phone conversation with UN Secretary-General Antonio Guterres, Araghchi called for an end to what he described as military aggression against Iran by the US and Israel. He emphasized that every country and international institution concerned with peace and security must condemn these actions.The situation in the Strait of Hormuz has led to significant increases in oil prices, with Brent crude up 2.5% to $105.70 on Monday, more than 40% higher than before the conflict began on February 28.Several countries are reportedly in talks with Iran to secure safe passage for their ships. A senior adviser to Iran's Islamic Revolutionary Guard Corps (IRGC) had announced on March 2 that the strait was effectively 'closed' and threatened to set transiting ships 'ablaze'.US President Donald Trump has proposed a naval coalition to secure the Strait of Hormuz, but so far, no countries have pledged to join. French President Emmanuel Macron has stated that France will not participate in operations to unblock the strait, but may consider joining an escort system once fighting ends.The European Union is seeking diplomatic solutions to guarantee safe transit through the Strait of Hormuz and mitigate the impact of soaring energy prices on global markets.