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Ecuador's government, led by President Daniel Noboa, has imposed 100% tariffs on imports from Colombia, effective May 1. This decision comes as a response to what Ecuador sees as Colombia's inadequate efforts to combat drug trafficking and improve border security.The move is the latest escalation in a months-long feud between the right-wing Noboa and his left-wing counterpart in Colombia, Gustavo Petro. Ecuador's Ministry of Production justified the tariff hike as a necessary measure to confront drug trafficking on the border and protect its citizens and territory.This is not the first tariff imposed by Ecuador on Colombian goods. Previously, Ecuador had slapped 50% tariffs on Colombian exports as of March, which was a spike from a 30% tariff rate announced in January. Colombia has responded by suspending cross-border energy sales and imposing retaliatory tariffs on certain Ecuadorian products.The tensions between Ecuador and Colombia are further complicated by Petro's 'Total Peace' policy, which involves negotiations with rebel groups and criminal networks. This approach has been met with criticism from right-wing leaders like Noboa and US President Donald Trump, who have accused Petro of not doing enough to tackle drug trafficking.The situation has also been influenced by US-Colombia relations, with the Trump administration decertifying Colombia as an ally in its 'war on drugs' and sanctioning Petro and his family. Noboa has echoed Trump's stance on several foreign policy issues, including pressure on left-wing governments in the region.

The recent ceasefire between the United States, Israel, and Iran has brought a fragile calm to the region, but experts warn that energy prices may take months to normalize. The conflict had a significant impact on global oil and gas supplies, particularly through the Strait of Hormuz, a critical waterway through which 20% of the world's oil and gas exports pass.Iran's response to US-Israeli attacks included choking off the Strait of Hormuz and attacking energy infrastructure in several Gulf countries. This led to soaring prices for energy and byproducts like helium, as well as fertilizers that rely on these inputs, affecting sowing seasons and consumers worldwide, especially in developing countries.Experts stress that a predictable and stable flow of cargo through the strait is needed before markets can stabilize. Currently, only a trickle of vessels are passing through, with five vessels crossing on Wednesday and seven on Thursday, down from 120-140 ships per day before the conflict.Rockford Weitz, a professor at The Fletcher School at Tufts University, described the situation as 'the biggest disruption in the history of global oil markets.' He emphasized that normalization will take time and requires collaboration among global powers and regional players.Additionally, concerns remain about Iran charging toll fees and skyrocketing insurance fees, which could keep oil prices high. However, experts agree that these fees are not the primary cost drivers.The International Monetary Fund (IMF) has warned of a looming inflation crisis and plans to downgrade its forecast for the world economy. Kristalina Georgieva, IMF managing director, stated that growth will be slower, even if the new peace is durable.For now, oil prices are expected to remain higher than pre-war levels due to the overhang of greater risk premium of supplies out of the Gulf. The situation remains uncertain, with experts closely watching for any side deals, such as a potential agreement between Iraq and Iran, which could impact oil production and prices.

The US Court of International Trade is hearing oral arguments in a case aimed at overturning President Donald Trump's global import tariffs. The tariffs, which were imposed in February, have been met with opposition from several US states and small businesses.The plaintiffs, including 24 mostly Democratic-led states and two small businesses, argue that the 10% global import tax sidesteps a Supreme Court ruling that invalidated most of Trump's previous tariffs. They claim that the tariffs are based on archaic authority meant to protect the US dollar from sudden depreciation in the 1970s, not to address routine trade deficits.Oregon's lawyer, Brian Marshall, told the judges that they should block the tariffs rather than let them expire on the normal 150-day timeline, to prevent Trump from invoking laws to keep them indefinitely. "[If] we have a successive series where there's always tariffs in place, that's a problem," Marshall said.The Trump administration has argued that the global tariffs are a legal and appropriate response to a persistent trade deficit caused by the fact that the US imports more goods than it exports. "President Trump is lawfully using the executive powers granted to him by Congress to address our country's balance of payments crisis," White House spokesperson Kush Desai said.The case is significant as it challenges Trump's use of Section 122 of the Trade Act of 1974, which authorises duties of up to 15% for up to 150 days on imports during "large and serious United States balance-of-payments deficits" or to prevent imminent depreciation of the dollar.

European airports have issued an urgent warning that jet fuel shortages could materialise within the next three weeks if the Strait of Hormuz remains closed.Airports Council International (ACI) Europe addressed a letter to EU transport commissioner Apostolos Tzitzikostas, stating the bloc is only three weeks away from a systemic shortage.The threat is linked to the ongoing US‑Israel conflict with Iran, which has effectively shut the strait—a key shipping lane for Gulf oil exports—pushing Brent crude to around $96 per barrel, up from roughly $72 before the hostilities.ACI warned that without a stable resumption of traffic through Hormuz within three weeks, a “systemic jet fuel shortage is set to become a reality for the EU.”Jet‑fuel prices have more than doubled year‑on‑year, reaching $1,650 per tonne according to IATA data. Europe’s price surge stands at 138%, while Asia has seen a 163% increase.Ryanair chief Michael O’Leary highlighted that the United Kingdom, heavily dependent on Kuwaiti supplies, is the most vulnerable market in Europe.Shipping data from Vortexa shows the last Gulf‑origin jet fuel cargo for Europe is due in Copenhagen tomorrow, following a partial delivery to Rotterdam earlier this week. The final tanker bound for the UK arrived in Kent on Tuesday.More than 60% of Europe’s jet fuel traditionally comes from Gulf refineries, with over 40% shipped via the Hormuz corridor. The blockade forces European buyers into direct competition with Asian carriers for alternative cargoes.Australian investment bank Macquarie notes that jet fuel lacks the pipeline alternatives available to crude oil, making the market especially vulnerable. Even if shipments resume, the refined‑product market could take two to three months to normalise, lagging behind crude markets.Airlines have already begun trimming schedules and raising fares, a trend that will feed into broader inflationary pressures. A genuine shortage could force travelers and businesses to postpone trips and shipments, deepening economic damage.ACI called for proactive EU monitoring and action, warning that the peak summer travel season—critical to many economies—could be hit hard if fuel supplies falter.IATA director‑general Willie Walsh cautioned that even with the strait reopened, restoring adequate supply will take months due to disrupted refining capacity in the Middle East. IATA had previously projected a 4.9% year‑on‑year growth in passenger traffic for 2026.

Britain’s recent reversal of the on‑shore wind ban, announced by Energy Secretary Ed Miliband, has set in motion a wave of proposals to install more than one hundred colossal turbines across the Cambrian Mountains of mid‑Wales. The Cambrians, a 500‑square‑mile stretch of moorland and high ground that remains the most extensive wilderness south of Scotland, could soon host turbines reaching 220–230 metres – roughly 50% taller than any existing on‑shore turbine in England and Wales and more than twice the height of Big Ben. Each turbine would sit on a 2,000‑tonne concrete foundation and require at least 100 tonnes of steel. The scheme also envisions over 200 km of new pylons to link the farms to the National Grid, alongside roads, repair bays and storage depots. Analysts note that the construction phase would generate a substantial carbon footprint, especially given the turbines’ relatively short operational life of 20–25 years. Environmental organisations, including the Wild Wales Trust and the Campaign for the Protection of Rural Wales, have rallied against the plans, warning that they would "degrade and industrialise huge areas of the uplands and valleys" and could encroach on Wales’s sole UNESCO biosphere reserve in the Dyfi valley. Local opposition is hampered by the region’s sparse population, but activists have been posting hand‑drawn notices on the Glaslyn uplands and highlighting the visual impact of proposed turbine clusters – for example, a hilltop site slated for 26 turbines that would dominate the skyline across the country, and a location dubbed “Artists Valley” that could be renamed after a row of 37 similar structures. Critics argue that Wales, which is moving toward renewable self‑sufficiency and already exports surplus power, does not need these installations for its own energy security. Instead, the turbines appear designed to feed the broader UK grid, echoing historic instances where Welsh resources were harnessed for the benefit of other regions, such as the 1960s water transfers to Liverpool. With the Cambrian Mountains lacking any national‑park protection – a status denied in the 1950s due to local farming opposition – the landscape remains vulnerable to large‑scale industrialisation. The proposed developments raise a fundamental question: should a politician’s ambition for renewable credentials outweigh the preservation of one of Britain’s most pristine natural areas?

Iran has declared that the Strait of Hormuz, a vital passage for global oil shipments, is open but with certain limitations. The strait, which connects the Persian Gulf to the Gulf of Oman, is a crucial route for oil exports from countries such as Iran, Saudi Arabia, and the United Arab Emirates.The new restrictions come amid heightened tensions in the region, with Iran seeking to assert its control over the strategic waterway. Despite the limitations, shipping and trade activities are expected to continue, albeit with increased scrutiny and regulation.

Argentina's lawmakers have given the green light to a bill championed by President Javier Milei that permits mining in sensitive glacier and permafrost regions. The move has sparked fierce criticism from environmentalists, who argue it jeopardizes vital water sources. The bill, which was already approved by the Senate in February, passed with 137 votes in favor, 111 against, and three abstentions in the Chamber of Deputies after a marathon 12-hour debate. This development is seen as a significant victory for Milei, who has been pushing for looser regulations to attract large-scale mining projects. Environmentalists have expressed deep concerns that the reforms will undermine protections for glaciers and permafrost, which are crucial for water supplies. Thousands of people demonstrated outside parliament, with some protesters clashing with police. Banners displayed slogans such as 'Water is more precious than gold!' and 'A glacier destroyed cannot be restored!' The bill allows for mining of metals like copper, lithium, and silver in the Andes mountains. Argentina is a major producer of lithium, a critical component for the global tech and green energy sectors. The central bank forecasts that mining exports could triple by 2030. Milei, who does not believe in man-made climate change, argues that the bill is necessary for economic growth. 'Environmentalists would rather see us starve than have anything touched,' he has stated. The reform gives provinces more power to decide which areas to protect and which to exploit economically. Environmental activist Flavia Broffoni countered that 'the science is clear' and that creating a 'sustainable mine' in a periglacial environment is not possible. With nearly 17,000 glaciers and rock glaciers in Argentina, concerns over glacial reserves shrinking due to climate change add urgency to the debate.

The ceasefire deal between Iran and the US has been hailed as a significant achievement for China, which has been actively working to promote de-escalation and an end to hostilities in the region. Beijing's powerbrokers are being credited with pushing Iran towards agreeing to the ceasefire, bolstering its status as a regional mediator.In China's tightly censored domestic media, articles basking in the glory of China being the grown-up in the room at a time of international crisis were allowed to circulate. China's role in the negotiations was confirmed by US President Donald Trump, who told the Agence France-Presse news agency that he believed China had got Iran to agree to a ceasefire.However, some analysts are sceptical about how influential China could actually have been in the late-night discussions. The deal is advantageous to Iran, and encouraging the regime to agree to it would have been like 'pushing an open door', according to one analyst. Nicholas Lyall, a senior researcher at Trends, a research and advisory firm in Abu Dhabi, said: 'In terms of whether China had to do much pushing of Iran for it to agree to the temporary ceasefire, and whether Iran was swayed by this reported Chinese effort, it's essential to clarify what Iran has actually agreed to.'Officially, China has not confirmed or denied reports that it played an active role in the Islamabad negotiations. At a press conference on Wednesday, the foreign ministry spokesperson Mao Ning said only that China 'had been actively working to promote de-escalation and an end to all hostilities'. China's economic interests are also at stake, as the risk of a global recession and soaring fossil fuel prices poses a threat to the Chinese economy, which is heavily dependent on exports.Analysts are even more sceptical of the idea that China might act as the guarantor of any ceasefire agreement in the Middle East. Song Bo, a fellow at the Center for International Security and Strategy at Tsinghua University, said: 'China doesn't have a direct stake with any of the parties in the Middle East. Acting as a guarantor for a ceasefire would be an extremely high-cost diplomatic undertaking, and I don't think China would commit to that easily.'

Argentina's congress has approved a bill promoted by President Javier Milei that authorizes mining in ecologically sensitive areas of glaciers and permafrost, sparking widespread environmental protests. The bill, which was already approved by the senate in February, will make it easier to mine for metals such as copper, lithium, and silver in frozen parts of the Andes mountains.The chamber of deputies approved the amendment with 137 votes in favor, 111 against, and three abstentions after nearly 12 hours of debate. Environmentalists argue that the legislative changes will weaken protections for crucial water sources, with thousands protesting outside parliament, holding banners with slogans such as “Water is more precious than gold!” and “A glacier destroyed cannot be restored!”Seven Greenpeace activists were arrested earlier in the day after scaling a statue outside parliament and unfurling a banner urging lawmakers “not to betray the Argentine people”. The passage of the amendment is a new coup for Milei, who pushed through looser labor laws in February despite repeated street protests.Environmental activists, such as Flavia Broffoni, argue that there is no possibility of creating a 'sustainable mine' in a periglacial environment. Argentina has nearly 17,000 glaciers or rock glaciers, with glacial reserves in the north-west shrinking by 17% in the last decade due to climate change.Milei, a free-market radical who does not believe in human-made climate change, says the bill is necessary to attract large-scale mining projects. The Central Bank of Argentina estimates that the country could triple its mining exports by 2030. Supporters argue that the bill will provide legal certainty and clear definitions, while critics, such as Enrique Viale, warn that it threatens the water supply for 70% of Argentinians.