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The Failed Dealmaker: Trump's Iran Dilemma For weeks, Donald Trump has tried to find a way to end the war he started with Iran – a deal that would allow him to declare victory and move past the conflict before it causes severe damage to the global economy and sinks Republican chances in the US midterm elections. But the self-proclaimed master dealmaker can't seem to stop sabotaging his own negotiations or to acknowledge that Iran is now in a better position to demand concessions than it was before the war. Strategic Missteps: From Military Action to Negotiation Deadlock Over the Memorial Day holiday, Trump skipped his eldest son's wedding in the Bahamas and canceled plans to spend the weekend at his New Jersey golf club. The last-minute changes heightened speculation that Trump was ready to unveil a deal to end the war. Trump then announced that he would hold a cabinet meeting at Camp David, the presidential compound in Maryland that has been the site of historic diplomatic summits. But that meeting was moved back to the White House, as it became clear that Trump had not been able to close a deal he could announce with great fanfare. The Art of the Deal: Trump's Negotiation Paradox Why has an agreement eluded the business titan who wrote the bestselling 1987 book The Art of the Deal? Trump admires strongman leaders and is loth to project any sign of weakness – and he's afraid of reaching a deal with Iran that makes him look weak. The president is also sensitive to criticism that any agreement he negotiates will be worse for the US than the 2015 nuclear deal between Iran and six world powers, which was brokered by Barack Obama's administration. Leverage Reversed: How Iran Gained the Upper Hand Trump's main problem is that Iran has more leverage than he does – and Iranian leaders are well aware of that advantage. On 28 February, Trump launched a joint US-Israeli war against Iran, killing the supreme leader, Ayatollah Ali Khamenei, and other top military and political officials. But Iran retaliated with missile and drone strikes against US military bases across the Middle East, and it targeted the energy infrastructure of its Gulf neighbors. Iran also deployed its most effective economic weapon: it closed the strait of Hormuz, through which more than a fifth of the world's oil supply passed each day. Economic Fallout: Global Disruption and Rising Oil Prices The closure of the Strait of Hormuz – along with Iranian attacks on pipelines and gas fields in Kuwait, Saudi Arabia, Qatar and the United Arab Emirates – disrupted the global economy and increased oil prices. In the US, average gas prices have jumped by 50%, up to nearly $4.50 per gallon, since Trump launched the war. Trump and his ally, the Israeli prime minister, Benjamin Netanyahu, could not topple the Islamic regime that rose to power after Iran's 1979 revolution. Instead, they ended up strengthening it – by allowing Tehran to deploy its geographic control of the strait of Hormuz into a weapon that could instigate a global energy crisis and a worldwide recession. The Emerging Deal: Limited Concessions and Unresolved Issues The emerging deal is focused on solving a problem that didn't exist before Trump started this war: fully reopening the strait of Hormuz to commercial shipping so that oil prices can stabilize. Under a draft agreement being circulated to US allies, Washington would also lift its blockade of Iranian ports and allow Tehran to access about $12bn in frozen assets. Once again, Trump seems to be aiming for a limited deal with Iran that defers the most difficult questions to future talks, which could drag out for months or even years. Iran's Resilience: Military Strength Preserved In some ways, Iran has emerged stronger after a war intended to decimate its military capabilities. A CIA report sent to Trump earlier this month found that Tehran had managed to retain a significant part of its missile capabilities. The analysis said Iran preserved about 70% of its prewar stockpile of missiles and about 75% of its mobile launchers. The report also concluded that Iran was more resilient than US officials had claimed, and it could survive a naval blockade for months. Political Calculations: Midterm Elections and Trump's Dilemma At his cabinet meeting, Trump said he didn't care about the midterm elections and wasn't in a rush to reach a deal. "It's got to be perfect," Trump told reporters, adding: "I didn't do this to get a crummy agreement." Despite his weak position, Trump insists that he will strike a better deal with Iran than the one negotiated by the Obama administration in 2015. That agreement provided Tehran with relief from international sanctions in exchange for limits on its nuclear enrichment. The Unintended Consequences: Strengthening the Adversary Trump could have avoided starting a regime-change war that failed, leaving the world to deal with its consequences. Instead, the master negotiator handed Iran a new economic weapon – and more leverage to extract a favorable deal. The worst thing you can possibly do in a deal is seem desperate to make it. That makes the other guy smell blood, and then you're dead. Trump wrote in his famous book. The best thing you can do is deal from strength, and leverage is the biggest strength you can have.

The Lead: This Week's Entertainment HighlightsThis week's entertainment landscape offers a diverse array of critically acclaimed shows and films, from hilarious comedies to chilling horror. Channel 4's "Make That Movie" stands out as one of the funniest shows of the year, while Netflix's "The Four Seasons" returns with a brilliant second season. Horror fans can explore the disturbing world of "Backrooms," while Marvel offers a stylish take with "Spider-Noir."TV Comedy Gold: Make That MovieChannel 4Summed up in a sentence Last One Laughing finalist delivers one of the funniest shows of the year, with this mockumentary about a director who makes awful films.What our reviewer said "So ostentatiously silly that it deserves to be paraded around the streets." Stuart HeritageRead the full reviewFurther reading "People are like: you're a crackpot": how Sam Campbell became comedy's oddball superstarNetflix Triumph: The Four Seasons ReturnsNetflixSummed up in a sentence Tina Fey triumphs again with the return of this comedy about a group of middle-aged friends who reunite during holidays throughout the year.What our reviewer said "Even more perspicacious, poignant and hilarious than the first." Chitra RamaswamyRead the full reviewMarvel's Stylish Take: Spider-NoirPrime VideoSummed up in a sentence In Marvel's witty homage to the hard-boiled films and fictions of the 40s – which can be watched in colour or black-and-white – Nicolas Cage plays Ben Reilly, who gave up being superhero "the Spider" five years ago.What our reviewer said "Everything is shot with style and confidence." Lucy ManganRead the full reviewFurther reading The life of PIs: the strange case of 2026's resurgence of hard-boiled detectivesHidden Gem: PoniesNow/Sky AtlanticSummed up in a sentence Emilia Clarke and Haley Lu Richardson have heaps of fun as two widows who become cold war spies in this espionage comedy-drama.What our reviewer said "It's a mashup of genres and tropes, but it is its own thing too – and an unexpected treat at that." Lucy ManganRead the full reviewHorror Innovation: BackroomsIn cinemas nowSummed up in a sentence A debut from 20-year-old director Kane Parsons that examines memory, reality and fear in an icily disturbing horror, in which Chiwetel Ejiofor accesses an infinite series of hidden rooms that all feel creepily askew.What our reviewer said "Backrooms progressively raises its game towards the big finish with jump scares, squirm scares and tiny shiver scares. There is real fascination in exploring this vast, invisible city state of fear." Peter BradshawRead the full reviewFurther reading Are you sitting uncomfortably? How Backrooms upended the horror movieMusic and Bromance: Power BalladIn cinemas nowSummed up in a sentence Nick Jonas and Paul Rudd star in a comedy of bromance and betrayal from Irish writer-director John Carney that brilliantly brings together Rudd's washed-up wedding singer and Jonas's insecure ex-boyband superstar.What our reviewer said "Power Ballad is about making it and dreaming big, about every busker never giving up on hopes of one day being mega. But as so often with Carney, it's about something else, usually left unacknowledged in movies about music or any sort of show business: the terrible binary of success and failure." Peter BradshawRead the full reviewUnexpected Pairing: TunerIn cinemas nowSummed up in a sentence Playing a piano tuner with super-sensitive hearing, Leo Woodall's relationship with Dustin Hoffman is a tender highlight in this safe-cracking thriller.What our reviewer said "What a pair they are; they are a real pleasure to watch in an easy, unforced drama that mixes romcom moments with a relaxed crime thriller. It's like the Safdie brothers in chill-out mode." Cath Clarke

The Countdown to Trump’s Final Determination on a US‑Iran DealPresident Donald Trump signalled on May 30, 2026 that he would make a “final determination” on a potential agreement to end the Iran‑U.S. conflict, while Iranian chief negotiator Mohammad Bagher Ghalibaf warned Tehran would only act after Washington takes concrete steps.Financial Stakes: $1.5 Trillion Defence Investment and 3.5 % GDP TargetsUS Defense Secretary Pete Hegseth announced a $1.5 trillion defence spending boost, urging allies to allocate at least 3.5 % of GDP to defence.The pledge underscores the economic dimension of the Iran negotiations, linking security commitments to massive fiscal outlays.Regional Flashpoints: Israeli Advances in Lebanon and Ongoing Air AlertsIsraeli Prime Minister Benjamin Netanyahu confirmed troops have crossed the Litani River, expanding operations northward in southern Lebanon.The Israeli military reported intercepting projectiles from Lebanon and a near‑miss in northern Israel, though no casualties were reported.US Central Command (CENTCOM) displayed an F‑16 patrol over the Middle East, signalling continued US presence.Strategic Implications for US‑Iran Relations and Middle‑East StabilityThe divergent statements from Washington and Tehran highlight a stalemate: the US demands concrete Iranian concessions, while Iran insists on reciprocal US actions. Simultaneously, heightened Israeli‑Lebanese hostilities risk drawing additional regional actors into the conflict.What Comes Next: Scenarios for the Next 30 DaysBest‑case: A limited agreement is reached, easing naval restrictions in the Strait of Hormuz and reducing immediate combat operations.Mid‑case: Negotiations stall, leading to a continuation of proxy clashes and increased US defence spending.Worst‑case: Escalation in Lebanon triggers broader regional involvement, potentially expanding the war beyond current borders.

Trump Signals Imminent “Final Determination” on Iran DealDonald Trump announced that a decisive ruling on a prospective agreement with Iran to end hostilities will be made soon.Iran’s Stance: Actions, Not Words, Must Precede Any AgreementMohammad Bagher Ghalibaf, Iran’s chief negotiator, warned that any pact will be judged on concrete actions, not rhetoric.Esmaeil Baghaei, spokesperson for Iran’s Foreign Ministry, confirmed ongoing message exchanges but said no final understanding has been reached.Escalating Tensions: Israel Deepens Military Push into LebanonIsrael has intensified its incursion into Lebanon, adding a new layer of complexity to regional diplomacy.Potential Outcomes and Strategic CalculusThe forthcoming US decision could reshape US‑Iran relations, influence Israel’s operational freedom in Lebanon, and affect broader Middle‑East stability.Looking Ahead: Scenarios After the Trump DeterminationAnalysts anticipate three possible paths: a renewed diplomatic corridor, a hardening of sanctions, or a continuation of the status quo, each bearing distinct risks for regional actors.

The Shift in UN Geopolitical Stance on GazaIn a historic move, the United Nations has formally declared that the entirety of the Gaza Strip should be returned to Palestinian sovereignty. This statement represents a potential turning point in the decades-long conflict, moving beyond temporary ceasefires to address the final status of the territory.Defining the Final Status of the StripThe resolution emphasizes the right of return and self-determination for the Palestinian people.It challenges the current de facto administrative divisions within the region.The declaration aligns with long-standing UN resolutions regarding the two-state solution.Implications for Regional StabilityThis declaration carries profound weight for the stability of the Middle East. By explicitly stating that 100% of Gaza belongs to Palestinians, the UN is signaling a hardening of the international position against continued occupation or fragmentation of the territory. This could significantly alter the diplomatic calculus for both regional actors and international powers.Future Outlook for Palestinian SovereigntyLooking ahead, this stance suggests a trajectory toward a unified Palestinian state. While implementation remains complex, the UN's firm position sets a legal and moral framework that future negotiations must adhere to, potentially accelerating the path toward a formal Palestinian government.

The Development Israeli Prime Minister Benjamin Netanyahu has confirmed that Israeli forces have crossed into Lebanon, specifically crossing the Litani River. This move has significant implications for the region, potentially escalating tensions between Israel and Lebanon. Background and Implications The Litani River is a significant geographical and political boundary in southern Lebanon. Israeli military actions in this area could lead to increased conflict and instability in the region. The international community is closely monitoring the situation, with potential diplomatic repercussions. Regional Impact This development could have far-reaching consequences for Middle East peace dynamics. The situation remains fluid, with ongoing concerns about military escalation and humanitarian impacts on local populations. Future Outlook As the situation continues to unfold, diplomatic efforts are likely to intensify to prevent further escalation. The international community will be watching closely for any signs of de-escalation or additional military actions.

The Escalating Cost of Russia's War in UkraineEvidence of Russia's poor performance in its war in Ukraine, both militarily and economically, has been mounting over the past week. The US Defence Intelligence Agency (DIA) has confirmed earlier assessments that Russia has lost territory it previously occupied in Ukraine, while Ukraine has managed to reclaim approximately 400 square kilometers in and around Dnipropetrovsk – more territory than at any time since late 2022.Russia's Military Setbacks and Economic StrainRussia has still made a net territorial gain in 2026, but its advance is slowing down dramatically. According to the Institute for the Study of War (ISW), a Washington-based think tank, Russia advanced by a net 104 sq km between January 1 and May 26, 2026, compared to its seizure of 1,619 sq km during the same period last year.Ukrainian President Volodymyr Zelenskyy reported that Russian casualties had increased to 145,000 this year, of which 86,000 were killed and 59,000 troops seriously wounded. Ukraine's Defence Minister, Mykhailo Fedorov, highlighted that this meant 179 Russian losses per square kilometre of advance, compared to 67 last year – a rate higher than what Russia is currently able to replace through recruitment.Russia's war is also becoming increasingly difficult to finance. Having exceeded its entire 2026 budget deficit allowance by April, and depleted its foreign exchange reserves, Russia has been drawing down gold reserves at an unprecedented pace. According to its Central Bank, Russia has sold 27.9 tonnes of its gold reserves this year, worth more than $4bn, leaving reserves at their lowest since the beginning of the full-scale invasion in February 2022.Shifting Battlefield Dynamics and StrategiesThe DIA attributed Ukraine's territorial gains to Russia losing access to Starlink satellite services used for targeting and counter-battery fire. Ukraine attributes its success to its strategy of interdicting Russian logistics through mid-range drone and artillery strikes, which Fedorov described as a programme called "Logistical Lockdown" designed "to scale up middle-strike and systematically destroy Russian capabilities at the operational depth."This Ukrainian tactic has prevented reinforcements of men and equipment from reaching the frontlines, diminishing Russia's superiority in depth of resources and mass. The effectiveness of this strategy was demonstrated when Kherson occupation governor Vladimir Saldo restricted movement along the M-14 highway connecting Mariupol, Berdyansk and Melitopol, due to the number of vehicles being struck there.On the defensive front, Ukraine received a significant boost when Sweden announced it would donate 16 Gripen warplanes to Ukraine, which would also purchase an additional 20 through the EU's Ukraine Support Loan in a deal worth $2.9bn. Zelenskyy noted that "Gripen fighters with appropriate weapons, in particular Meteor missiles, which destroy targets at a distance of more than 200 kilometres, will help us push back Russian aircraft" against the approximately 3,000 Russian glide bombs dropped weekly.Simultaneously, Ukraine continued its long-range strikes on the Russian oil economy, which funds the war. On May 23-24, Ukraine struck oil depots and terminals at Novorossiysk and Tamanneftegaz on the Black Sea, as well as military and industrial sites including the Metafrax Chemicals plant in Perm and the Taganrog Airbase in Rostov.Russia's Response and Escalation TacticsIn response to Ukrainian advances, Russia pursued its own aerial tactic of striking Kyiv through massive combined attacks of drones and missiles. On May 24, Russia launched 600 long-range drones and 90 missiles against Kyiv and surrounding areas, including 36 ballistic missiles. Ukraine managed to shoot down 91 percent of the drones and 81 percent of the cruise missiles, though those that hit damaged government buildings, museums, and a market, injuring at least 87 people and killing two.Russia framed these attacks as retaliation for what it described as a terror attack on a college in occupied Luhansk, which it claimed killed six students and injured 39. Ukraine's General Staff countered that it was a strike on a centre for Advanced Unmanned Technologies run by Rubikon, Russia's unmanned systems force.Russian Foreign Minister Sergei Lavrov informed his US counterpart, Marco Rubio, that Russia would begin striking "military sites" in Kyiv in retaliation, warning foreign citizens, including diplomats, to leave. Moscow specifically mentioned using its newest Oreshnik intermediate range missile in the attacks, which it has also forward-positioned in Belarus.Future Outlook of the ConflictThe current trajectory suggests that Ukraine's strategy of targeted strikes on Russian logistics and supply lines, combined with enhanced air defense capabilities from international partners, will continue to challenge Russia's military advances. However, Russia's demonstrated willingness to escalate attacks on urban centers and its deployment of advanced weaponry indicate that the conflict may enter a more intense phase.As Russia depletes its financial resources and struggles to replace casualties, its ability to sustain current operations may diminish. Conversely, Ukraine's increasing success in securing international military support and refining its asymmetric tactics could shift the balance further in its favor, though the long-term outcome remains uncertain as both sides adapt their strategies.

The Bank of England's Cautious Approach The Bank of England is in no rush to raise interest rates while the outcome of the Iran war remains uncertain and the UK's growth rate stays weak, the governor, Andrew Bailey, said. Interest Rates and Inflation Dynamics In a signal that borrowing costs will remain at 3.75% at least during the summer, Bailey said it was tolerable for inflation to stay above the Bank's 2% target during the current crisis. However, that would change if a more permanent increase in prices began to take effect. Bailey emphasized that the Bank's tolerance for above-target inflation would weaken if signs of second-round effects begin to emerge. He noted that financial markets had initially expected the Bank to cut interest rates twice this year to 3.25%, but now a rise of 0.25 percentage points to 4% before December is forecast. Economic Uncertainty and Global Context Speaking at a conference in Reykjavik organised by Iceland's central bank, the governor said the economic situation had deteriorated since the start of the bombing of Iran by the US and Israel. Bailey stressed the need to monitor the situation in the Middle East and its effects on the UK economy and inflation closely. He noted that central banks worldwide have struggled to cope with shock increases in energy costs sparked by the Iran war. Monetary Policy and Market Reactions Bailey mentioned that one reason the Bank was prepared to wait was that borrowing costs had risen for homeowners and businesses without the central bank needing to adjust interest rates. Mortgage costs had increased since hostilities broke out as lenders reversed their expectations of rate cuts, dampening the housing market. Hedge funds and other financial institutions that lend money to businesses had also increased borrowing rates. Future Outlook and Preparations Bailey indicated that the central bank was better prepared now to assess the likely impact of rising energy costs on the economy and inflation after adopting scenario planning. The Bank now highlights the wide range of factors that could turn a temporary increase in inflation into something more permanent. Bailey assured that the Bank would take swift action if there's a repeat of the previous inflation increase.

The Implications of a Resolved Nuclear File The potential conclusion of the nuclear file involving Iran could have profound implications for the country and the region. This development could alter the political landscape, affecting diplomatic relationships and regional dynamics. Iran's Diplomatic Relations A resolution to the nuclear file might lead to improved diplomatic relations between Iran and Western nations. This could result from negotiations and agreements that address concerns over Iran's nuclear program, potentially leading to: Easing of economic sanctions Increased political cooperation Greater integration into the global community Regional Dynamics The reshaping of Iran's role in the region could lead to a shift in regional alliances and rivalries. Countries in the Middle East might reassess their positions relative to Iran, potentially leading to: Changes in military and economic alliances Shifts in political rhetoric and diplomacy Potential for increased regional stability or tensions Future Outlook The end of the nuclear file could mark a significant turning point for Iran and the region. As diplomatic efforts continue, the international community will be closely watching the developments and their implications for regional and global politics. Conclusion In conclusion, the resolution of the nuclear file holds the potential to reshape Iran and the region significantly. As the situation unfolds, it will be crucial to monitor the changes in diplomatic relations, regional dynamics, and the broader implications for global politics.