President Donald Trump abruptly paused “Project Freedom” — a US military operation to escort ships through the Iranian-blockaded Strait of Hormuz — roughly 36 hours after it began. According to NBC News, the reversal came after significant backlash from key Gulf allies, particularly Saudi Arabia. Trump announced the operation via social media on Sunday, surprising Gulf partners. In response, Saudi Arabia suspended US access to Prince Sultan Airbase and Saudi airspace, which are critical for providing air cover (fighters, tankers, and defensive umbrella) to ships transiting the strait. A phone call between Trump and Crown Prince Mohammed bin Salman failed to resolve the dispute. Other allies (e.g., Qatar, Oman) were also caught off guard, with coordination occurring only after the public announcement.
Climate Crisis
Fortune: Drought has sent a Rhine River chokepoint to a historic low for this time of year and threatens shipping of critical fuel supplies
Water levels at a chokepoint on the Rhine have fallen to a seasonal low, hampering shipments of diesel inland from Europe’s oil-trading hub. Europe’s busiest commercial waterway is being closely watched after dryness last summer […]
Economics
Bill Mitchell – They never wrote about it, talked about it, and, did quite the opposite – yet they knew it all along!
During the GFC, a new phenomenon emerged – the ‘We knew it all along’ syndrome, which was characterised my several mainstream New Keynesian macroeconomists coming out and claiming that some of the insights provided by […]
EU politics
William Davies: What Is “Neo” About Neoliberalism?
How to tell the difference between liberalism and something else. To the article
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