The US launched strikes on Iran and revoked a temporary waiver of sanctions on Iranian oil, following attacks on three commercial vessels in the Strait of Hormuz. US, Qatari and Saudi officials blamed Iran for the attacks on the vessels. US Central Command said  that it had begun “launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway”. Tehran has not directly claimed responsibility for the attacks, but has repeatedly warned vessels against attempting to transit the waterway on routes it has not approved. Iranian Deputy Foreign Minister Kazem Gharibabadi said earlier that Tehran would take “decisive actions to safeguard its national interests and security” in response to the revocation of the sanctions waiver, describing the move as a “blatant violation” of the memorandum of understanding (MoU) signed by Washington and Tehran on June 17. Oil prices have surged as renewed hostilities between the United States and Iran threaten to derail a fragile ceasefire that had brought some relief to global energy markets. Brent crude, the main international benchmark, rose as much as 3 percent on Wednesday, reversing a slide that had seen prices return to pre-war levels. Brent futures for September stood at $76.07 a barrel as of 04:00 GMT, the highest since June 23. The jump came after the US launched strikes on Iran and revoked a temporary waiver of sanctions on Iranian oil, following attacks on three commercial vessels in the Strait of Hormuz. US, Qatari and Saudi officials blamed Iran for the attacks on the vessels..

NATO on Tuesday unveiled a series of multinational defense initiatives ranging from airborne surveillance and counter-drone capabilities to space, industrial production and critical raw materials, as the alliance opened its 2026 summit with a defense industry forum in the Turkish capital. Opening the NATO Defense Industry Forum, the first official event of the two-day summit in Ankara, Secretary General Mark Rutte highlighted what he described as a new wave of billion-dollar defense agreements between North American and European companies, saying the projects demonstrate allies working "hand in hand" to develop next-generation military capabilities. Under the forum's "Big Reveal," Rutte announced three major multinational projects aimed at strengthening NATO's airlift, intelligence and surveillance capabilities. The first initiative is a multinational modernization program centered on the Airbus A400M transport aircraft and the Airbus A330 Multi Role Tanker Transport (MRTT) fleet. "Several allies are officially announcing the forthcoming delivery of additional Airbus A330 MRTT aircraft," Rutte said, describing the project as a step toward strengthening NATO's strategic airlift and aerial refueling capabilities. He also announced a joint procurement project for MQ-4C Triton unmanned aircraft to enhance the alliance's intelligence, surveillance and reconnaissance (ISR) capabilities. "These additional aircraft will provide persistent surveillance over large maritime areas," he said. Rutte's third announcement focused on replacing NATO's aging Airborne Warning and Control System (AWACS) fleet. According to the alliance's chief, NATO will jointly procure up to 10 Swedish-made Saab GlobalEye surveillance aircraft to replace the alliance's aging US-built Boeing E-3A Sentry AWACS aircraft, in a move aimed at modernizing airborne surveillance and early warning capabilities. (click image to read more)

A key NATO summit will open in Ankara today, Tuesday, 7th July. Leaders of the members of the alliance, including US president Donald Trump, are travelling to the Turkish capital for the summit. On Monday (6 July) Turkish President Recep Tayyip Erdoğan met in Ankara with NATO Secretary General Mark Rutte. According to Turkish media, the parties discussed the agenda for the upcoming NATO summit, as well as current regional and global issues. Erdogan stated that Turkey had completed preparations for the leaders' meeting and expressed hope that the summit would be successful. According to the Turkish president, the key topics of the summit will be collective defense and expanding allied cooperation in the defense industry. He also noted the importance of the Defense Industry Forum, which will be held on the sidelines of the NATO summit. On Monday (6 July 2026), NATO Secretary General Mark Rutte previewed the Ankara Summit, explaining that it will focus on delivery. Allies are expected to demonstrate how they are transforming the commitments made at The Hague last year into stronger armed forces, increased defence production, and more capabilities needed to defend the Alliance. The Secretary General highlighted the progress made by European Allies and Canada in investing 5% of GDP on defence by 2035.  “Here in Ankara, I expect nations to present clear, concrete and credible plans to reach that 5% goal. And the evidence we see so far is impressive,” said Mr Rutte, “Just one year into a 10-year project, we see that European Allies and Canada are already investing around 4% of their GDP in defence and security.” The Secretary General set out how NATO Allies are turning the extra cash into capabilities. “We will announce tens of billions in new contracts that will provide the crucial kit we need to deter and defend”, said Mr Rutte in Ankara, “This will help grow our economies, spread innovation and support hundreds of thousands of jobs, on both sides of the Atlantic.” Support for Ukraine will also be an important focus of the Summit of Allied Heads of State and Government. “Allies and NATO partners must continue to ensure Ukraine gets what it needs,” said the Secretary General, “And let me be clear, all Allies need to pull their weight, so that our support to Ukraine continues to flow. Because Ukraine’s security is so closely linked with our own.” Please read more on our live blog