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Oil and gas prices experienced a significant decline of almost 10% on Friday following Iran's announcement that the Strait of Hormuz is open to commercial shipping. This development could pave the way for tankers carrying millions of barrels of oil and gas to access the global market.Iran's foreign minister stated that vessels are free to transit the Strait of Hormuz during the 10-day ceasefire between Israel and Lebanon. Brent crude, the international benchmark, fell by 9% to $90 a barrel, while the benchmark European gas contract dropped by about 8.5% to €38.80 (£33.80) per megawatt hour.The US naval blockade on Iran's use of the strait remains in full force, according to Donald Trump, until a deal is reached with Tehran. Trump expressed optimism that the process will move quickly, as most points have already been negotiated.The crisis in the Strait of Hormuz has disrupted supplies of Middle Eastern crude and gas, as well as refined fuels from Gulf refineries, in what the International Energy Agency has described as the biggest energy supply crisis in history. Before the crisis, over 130 ships a day travelled through the strait, but this has reduced to a trickle under threats from Iran's Revolutionary Guards.There are currently around 800 tankers stuck in the Gulf, with about 300 being oil and gas tankers. It remains uncertain whether tankers will be required to pay a fee of about $2m (£1.5m) for safe passage through the strait.Analysts, such as Giovanni Staunovo from UBS, view Iran's comments as a sign of de-escalation, but emphasize the need to see a substantial increase in the number of tankers crossing the strait.

Britain is bracing for its most severe economic contraction in decades, a side‑effect of the United States’ escalating conflict with Iran and the resulting shutdown of the Strait of Hormuz. The British Treasury and the IMF warn that the nation’s growth could be crushed, public confidence in the government is eroding, and the prime minister’s position may become untenable. The original aim of sanctions was to punish hostile states and force leaders like Vladimir Putin to change course. Yet, data shows that in the years following the sanctions, Russia’s growth outpaced that of the United Kingdom. Similarly, the 2010s sanctions on Iran, intended to halt its nuclear programme, appear to have accelerated it, and current measures aimed at toppling the ayatollahs show little prospect of success. The United States now enforces economic restrictions on around 30 countries, including North Korea, Myanmar, Belarus and Afghanistan. Despite the breadth of these measures, the targeted regimes have largely remained in power, indicating a systemic failure of sanctions to destabilise entrenched governments. Beyond their limited impact on regime change, sanctions have unintentionally bolstered the Sino‑Russian trade bloc and driven many nations toward the BRICS alliance, positioning it as a counterweight to the G7. This realignment underscores the counter‑productive nature of the policy. Academic research, such as Nicholas Mulder’s The Economic Weapon, reinforces the historical pattern: except for very small states, trade restrictions are easily circumvented, and authoritarian regimes insulated from democratic pressures are largely immune. Mulder concludes that “the history of sanctions is a history of disappointment,” a sentiment echoed by critics who warn that each new round of sanctions repeats the same mistakes. One of the most damaging side‑effects is the exodus of skilled professionals. Iran, for example, has seen a diaspora of over four million people as of 2021, many of whom belong to the educated middle class that could have fueled internal reform. The brain drain weakens any potential opposition and inadvertently benefits Western economies that absorb this talent. Russia experienced a similar talent flight after the 1990s, when a vibrant civil society briefly flourished. Today, the remaining dissenters face both Kremlin repression and Western ostracism, creating an atmosphere reminiscent of McCarthy‑era loyalty tests. Given these outcomes, the article argues that the West must abandon blunt economic coercion in favour of nuanced, soft‑power strategies. Supporting opposition groups through academic, cultural, and diplomatic channels could nurture the very alternatives that sanctions have helped to erode. In sum, sanctions have proven illiberal and counter‑productive, reinforcing authoritarian borders while draining the human capital needed for genuine change. Restoring constructive relationships with societies like Iran and Russia, rather than relying on punitive trade measures, may offer a more viable path to long‑term stability.

Pakistan's Field Marshal Asim Munir has taken on an unexpected role as a peacemaker in the conflict between the US and Iran. His efforts have been widely praised, with US President Donald Trump describing them as 'fantastic'. Munir's involvement in the peace talks began after the US vice-president, JD Vance, left Islamabad following failed negotiations between the US and Iran. Despite this, Munir continued to engage with both sides, using his influence to push for a deal. Munir's phone calls played a crucial role in the frantic international efforts last week, resulting in a last-minute ceasefire agreement after Trump's threat that Iran's civilisation would 'die' if they did not agree to a deal. Trump is said to have directly leaned on Munir to use his influence and knowledge of the Iranians to help reach the off-ramp. Munir's ability to communicate with both the US and Iran has been key to his success. He has built strong relationships with leaders in Washington, Riyadh, and Tehran, and has been able to facilitate talks between the two nations. Munir's efforts have not only helped to reduce tensions between the US and Iran but have also elevated Pakistan's position as a credible diplomatic interlocutor. His role in the peace talks has been seen as a significant achievement for Pakistan, which has long sought to play a more prominent role in regional diplomacy. Analysts have noted that Munir's success is not solely due to his individual efforts, but also the result of a collective effort by the Pakistani government and military. However, his role in the peace talks has been widely acknowledged, and he is seen as a key player in maintaining peace in the Gulf and the Middle East. Munir's diplomatic activism has been driven by his strong relationships with leaders and countries, as well as his understanding of the importance of personality-driven diplomacy. His efforts have helped to build a global story for Pakistan, and have cemented his position as a major player in regional diplomacy.

LIV Golf chief executive Scott O'Neil has acknowledged that the rebel golf tour's finances are being managed very tightly and that structural changes are on the horizon, which may necessitate raising additional funds. However, he emphatically stated that the league will not fold.O'Neil's comments come on the heels of reports that Saudi Arabia's Public Investment Fund, a key backer of LIV Golf, is cutting its funding for the league. Despite this, O'Neil described the situation as 'business as usual' and expressed confidence in the tour's future prospects.In an interview with LIV employees during the broadcast of the tour's Mexico City event, O'Neil hinted at upcoming structural changes but did not provide specifics. He suggested that these changes could involve new formats or business structures, possibly including team-based elements.O'Neil also downplayed speculation about the tour's financial health, stating that LIV Golf had secured almost $500 million in sponsorships last year from major brands like Rolex, HSBC, and Aramco. He emphasized the tour's global appeal, particularly in markets such as Australia and Asia, where it has attracted significant interest.While acknowledging that fundraising may be necessary, O'Neil expressed optimism about the tour's trajectory, suggesting that continued revenue growth could mitigate the need for external funding. He concluded by stating that LIV Golf is poised for long-term success and will continue to evolve in the coming months.

Renewed diplomatic activity is gathering momentum as Pakistan assumes a central mediating role in the stalled US‑Iran conflict. A senior Pakistani delegation, headed by Army Chief Field Marshal Asim Munir, arrived in Tehran to convey messages from Washington, while Prime Minister Shehbaz Sharif embarked on a regional tour that includes stops in Saudi Arabia, Qatar and Turkiye. Iran’s foreign ministry confirmed that Tehran and Washington have maintained contact since the Islamabad talks ended on Sunday, and the White House expressed optimism about convening a second round of peace negotiations in the Pakistani capital. Iran’s warning on the Strait of Hormuz added a sharp edge to the diplomatic push. Adviser Mohsen Rezaei cautioned that continued US enforcement of a naval blockade could prompt Tehran to target American vessels in the strategic waterway. The United States has already tightened restrictions on ships linked to Iranian ports, turning several vessels back before they can dock. In parallel, internal divisions in Washington persisted. The Senate rejected a resolution that would have limited US war powers without congressional approval, underscoring the political friction surrounding the conflict. Key diplomatic developments include: Second‑round talks: The White House announced that a follow‑up peace round with Iran is under discussion and that officials are hopeful a deal can be reached. China’s endorsement: Foreign Minister Wang Yi told his Iranian counterpart that Beijing supports maintaining the momentum of the ceasefire and ongoing negotiations. Saudi‑Pakistani engagement: Crown Prince Mohammed bin Salman met Prime Minister Sharif in Jeddah to discuss regional stability and the US‑Iran dialogue, with Pakistan’s mediation highlighted as a focal point. US‑Qatar dialogue: President Donald Trump consulted with Emir Sheikh Tamim bin Hamad Al Thani on regional developments, emphasizing oil market stability and gas pricing. On the US side, the administration imposed fresh sanctions targeting more than two dozen individuals, companies and vessels tied to Iranian oil magnate Mohammad Hossein Shamkhani. The US Central Command reported that 10 vessels were blocked from leaving Iranian ports within the first 48 hours of the naval blockade, a clear signal of escalating pressure. Israel’s Prime Minister Benjamin Netanyahu reiterated that Israel and the United States share “identical” objectives to contain Iran, while also stating that Israeli military operations would continue unabated. He emphasized the priority of dismantling Hezbollah in Lebanon, marking the first direct talks with Lebanese leaders in decades. In Lebanon, the humanitarian toll deepened. The Health Ministry reported that at least 2,167 people have been killed and more than 7,000 injured by Israeli strikes, with approximately 1.2 million residents displaced since March 2. The UN special rapporteur on housing warned that Israel’s tactics mirror those used in Gaza, calling for an immediate halt to the bombing. Economically, the war’s ripple effects are already manifesting worldwide. World Bank chief economist Indermit Gill warned that the conflict could push the number of people facing acute food insecurity up by about 20 %, adding roughly 300 million individuals to the crisis. Meanwhile, optimism over a potential diplomatic breakthrough sent major US stock indices to record highs on Wednesday. Overall, the convergence of high‑level diplomatic outreach, heightened military warnings, and growing economic concerns underscores a pivotal moment in the US‑Iran war, with Pakistan’s mediation and regional engagements shaping the prospects for a ceasefire.

The Trump administration is formally enlisting foreign governments to support a sweeping reorientation of global development policy, favoring trade over aid. This initiative, set to be introduced at the United Nations later this month, aims to move away from direct aid to poor nations and towards increased trade led by private companies. According to Tommy Pigott, Principal Deputy Spokesperson at the State Department, the initiative rejects what he calls a failed aid model, emphasizing that trade and free market capitalism are the surest paths to prosperity. Pigott also criticized those advocating for 'aid not trade,' suggesting they are supporting a corrupt NGO industrial complex. The initiative's four stated aims include: advancing pro-business reforms in developing economies, facilitating government-to-private sector dialogue to attract investment, highlighting countries that have pursued free-market development, and brokering business partnerships between developing nations and US companies or international organizations. This push comes amid a broader trend of diminishing humanitarian aid globally. OECD preliminary figures show that 26 of 34 donor nations shrank their aid budgets in 2025, with significant cuts in countries like France, Germany, and the United Kingdom. Chatham House estimates that the 17 largest donors are on course to cut more than $60 billion in aid between 2023 and 2026. The UK's commitment to aid is set to decrease to 0.3% of gross national income by 2027, its lowest share since 1999. A study published in The Lancet warns that sustained global aid cuts could result in at least 9.4 million additional deaths by 2030. The Center for Global Development estimates that USAID cuts alone may have already contributed to between 500,000 and a million deaths in 2025. The US mission to the United Nations is expected to host a formal signing event for the declaration before the end of April.

The recent WNBA draft saw Azzi Fudd selected as the No 1 overall pick by the Dallas Wings, marking a significant achievement for the talented young player. Fudd, who played under Geno Auriemma at UConn, distinguished herself as one of the best shooters in college basketball and was named an All-American by the Associated Press. However, rather than focusing on her impressive athletic career, the draft night discourse was dominated by her relationship with teammate Paige Bueckers, who was also a top pick in the WNBA draft last year. The pair confirmed they were dating in 2025, but have kept their relationship largely private. This fixation on the personal lives of WNBA players raises questions about the media's priorities and the cultural context of women's sports. Experts argue that the surge of interest in the love lives of WNBA players is fueled by social media, which makes it easy to form parasocial relationships with athletes. Dr. Alicia Smith-Tran, an associate professor of sociology, notes that women athletes continue to be seen as lesser than their male counterparts, and the focus on their romantic lives is a manifestation of this marginalization. The conversation around romance in the WNBA also contributes to the fetishization of queer couples and relationships. Frankie de la Cretaz, author of the Out of Your League newsletter, warns that queer relationships are often dehumanized and become fodder for people to project their own desires onto. In the case of Fudd and Bueckers, their relationship has become a side point, overshadowing their achievements as athletes. As the WNBA enters its 30th season, it's essential to recognize the cultural significance of women's sports and the importance of respecting athletes' personal boundaries. The focus should be on their skills, contributions, and achievements in the workplace, rather than their personal lives. By doing so, we can work towards a more nuanced understanding of women's sports and the athletes who play them.

U.S. Defense Secretary Pete Hegseth told reporters on Thursday that Iran’s energy infrastructure is "not destroyed yet," but the United States is "locked and loaded" to finish the job. Speaking from the Pentagon podium, Hegseth framed the press corps as the modern equivalent of the Pharisees who plotted against Jesus, suggesting that media criticism was driven by hostility rather than facts.The remarks coincided with the launch of a naval blockade of Iranian ports that began earlier this week. Hegseth urged Tehran to accept a nuclear agreement, warning that refusal would bring further attacks on the country’s remaining power‑generation and energy facilities."We are reloading with more power than ever before, and with better intelligence," Hegseth said, emphasizing the United States’ enhanced surveillance capabilities.He added that Iran’s missile launchers are dwindling and cannot be replenished: "You are digging out your remaining launchers and missiles with no ability to replace them. You can dig out for now. Can’t reconstitute, but we can."Offering a stark choice, Hegseth said, "We prefer to do it the nice way, through a deal led by our great vice‑president and negotiating team, or we can do it the hard way." He also pledged that the War Department would ensure Iran never acquires a nuclear weapon.Gen. Dan Caine, chair of the Joint Chiefs of Staff, confirmed that the blockade applies to all ships, regardless of nationality, and has been in effect for more than 24 hours. Over 10,000 sailors, marines and aircrew are enforcing the restriction. Since its inception, the U.S. Navy has transmitted a "do not attempt to breach the blockade" warning to vessels 13 times, with none of the ships boarded.During his address, Hegseth invoked a biblical sermon, likening the press to the Pharisees who, according to the Gospel of Mark, plotted to destroy Jesus after witnessing his miracles. He claimed the media’s “hardened hearts” were calibrated only to “impugn.”Hegseth also criticized the press for what he called a distorted portrayal of the 2021 Afghanistan withdrawal, citing the phrase "the greatest airlift in American history"—a line originally used by President Joe Biden and later echoed by right‑wing commentators and politicians.Concluding his remarks, Hegseth admitted, "Sometimes it’s hard to figure out what side some of you are actually on," underscoring the tension between the Pentagon and the media.

Iran has deployed small surface vessels to lay mines in parts of the Strait of Hormuz, a critical waterway for global shipping. The exact number of mines laid is unknown, but Iran has left a path open to ships that are prepared to pay a toll.According to US officials, Iran has indicated that it cannot locate all of the mines that it has laid and lacks the capability to remove them. The mines are part of an array of offensive options available to Iran in the strait, including cheap drones, anti-ship missiles, and fast-attack small vessels.Iran is thought to have deployed two main types of mine: the Maham 3 and the Maham 7. The Maham 3 is an anchored, 300kg mine that can be used in waters as deep as 100 meters, while the Maham 7 is a bottom-resting 220kg mine for use in shallower waters.The US plans to use uncrewed marine mine-hunting vehicles, such as the Knifefish undersea mine hunter, to clear the mines. The US could also deploy the AN/ASQ-235 (Archerfish) airborne mine neutralization system from an MH 60S helicopter.The global economy's reliance on maritime trade gives countries deploying mines an outsized leverage compared with the relatively low cost of laying the mines. It takes only a small number of mines to close sea lanes, not least because some mines can be set to detonate after a certain number of ships have passed over, creating uncertainty.