“Early signs that the Strait of Hormuz is reopening have eased the most acute threat to global energy supplies, but economic damages from the nearly four months of war will take months to unwind, analysts warned,” CNBC reports.
War with Iran Fails to Eliminate Key Threats
“In igniting a war against Iran on Feb. 28, President Trump billed the U.S. campaign as an unprecedented step toward transforming the Middle East and terminating the threat from what he called a ‘wicked, radical dictatorship,'” the New York Times reports.
“Roughly 100 days later, as the United States and Iran have reached a somewhat vague memorandum of understanding to end the war, skeptics are expressing bafflement over what exactly has transformed.”
“Neither the war nor the agreement ended what U.S. and Israeli officials regard as the main threats emanating from Iran. The country’s nuclear program, while heavily damaged, was not eliminated — its fate punted to future negotiation.”
Vance Arrives in Switzerland for Crunch US-Iran Talks
“Vice President JD Vance arrived in Switzerland on Sunday for crunch talks with Iran to build on a shaky interim deal to reopen the Strait of Hormuz and move towards a permanent settlement to end their more than 100-day war,” the Financial Times reports.
“The negotiations in a Swiss mountain resort will initially focus on the Israeli-Hizbollah conflict in Lebanon that has threatened to derail diplomatic efforts to implement the memorandum of understanding signed by the US and Iran on Wednesday.”
Bloomberg: US and Iran poised to begin Swiss talks on lasting ceasefire.
U.S.-Iran Deal Offers Too Little, Too Late for Farmers
Washington Post: “Now, the U.S.-Iran agreement to reopen the vital Strait of Hormuz and pursue a lasting peace offers some relief to farmers who have seen their fuel and fertilizer bills soar because of combat in the Persian Gulf. Diesel has not been cheaper since mid-March. Urea fertilizer in recent days sold for less than it did before the fighting began.”
“But the financial damage has been done.”
“President Donald Trump’s February decision to join Israel in attacking Iran aggravated the farm economy’s struggles. Soybean growers, who were already suffering from the president’s tariffs, are expected to lose money in 2026 for the fourth straight year.”
Trump’s Iran Agreement Divides Republicans
“President Trump’s fragile agreement with Iran has introduced a new variable into this year’s midterm elections,” the New York Times reports.
“Democratic candidates have assailed the agreement, arguing that the president accepted unfavorable terms to try to end an unnecessary war that hurt the economy. Republicans have been more divided. Some, eager to turn the page on the unpopular war, are hailing falling gas prices and praising Mr. Trump for weakening Iran’s military capabilities, while others are expressing doubts about whether the president is likely to achieve the goals he set out to accomplish with the war.”
“Although the long-term durability of the accord was unclear — Iran claimed Saturday that it closed the Strait of Hormuz after what it said was a U.S. breach of the deal, while the U.S. military said traffic continued to flow — candidates in battleground states and leaders in both parties had already begun to develop new positions for a new chapter.”
The 2026 Primaries Are Reshaping the Democratic Party
Ron Brownstein: “The struggle over control of the Democratic Party’s direction has roared to new heights this year, with New York’s primary on Tuesday looming as the next major battlefield between left and center.”
“From Maine to California, progressive and centrist forces have collided in an unusual, even unprecedented, number of primaries for local, state and congressional offices that have divided the party along ideological, and often generational, lines.”
Lebanon Fighting Risks Disrupting Iran Nuclear Talks
“The continuing war in Lebanon between Israel and Hezbollah is threatening to disrupt U.S. negotiators’ plans to focus on Iran’s nuclear program, as new talks get under way Sunday in Switzerland,” the Wall Street Journal reports.
Iran Conflict Carries $40 Billion Pentagon Price Tag
CNN: “The conflict cost the Department of Defense is about $40 billion, according to preliminary numbers from an upcoming analysis from the Center for Strategic and International Studies.”
“The figure includes cost of munitions, destroyed equipment and damage to bases, but does not incorporate operational costs that were already factored into the department’s more than $1 trillion fiscal year 2026 budget.”
Trump Likely to Drain Reflecting Pool Again
“President Donald Trump said Saturday night that he was likely to drain the Lincoln Memorial’s Reflecting Pool again, as workers contend with paint peeling off its surface and algae blooming in the wake of his $14 million effort to resurface it,” the Washington Post reports.
“The president made his announcement, after what he said was a meeting with contractors while he was at Camp David in Maryland for the weekend. It comes 16 days after the government began refilling the pool following a renovation that Trump had said would result in clean water and “could last for 100 years.”
Trump’s Reflecting Pool Is Plagued by Multiple Problems
“First, the new paint job appeared uneven. Then, an algae bloom turned the water an acid green. Now, large chunks of coating are peeling off the basin, creating islands of ‘American flag blue’ alongside patches of pea green in a dark, murky soup,” the New York Times reports.
“The Reflecting Pool at the Lincoln Memorial seems to be rejecting its makeover.”
CNN: Algae, peeling blue material, conspiracy theories: Reflecting Pool takes national spotlight.
Keir Starmer Expected to Resign on Monday
“Keir Starmer is preparing to set out a timetable for his departure from No 10 this week after Andy Burnham’s triumphant return to Westminster in the Makerfield byelection,” The Observer reports.
“The prime minister is understood to have reached the conclusion that his position is no longer tenable after conversations in recent days with cabinet ministers, Downing Street advisers, trade union leaders, and party donors.”
“Although Starmer is spending the weekend talking his future over with his wife, Victoria, at Chequers before making a final decision, senior Labour figures believe a ‘clear statement’ could come as early as Monday.”
Bloomberg: Is Andy Burnham the UK’s next Prime Minister.
Economic Pressure Fails to Sway Tehran
“The U.S. has unleashed more than 1,000 sanctions on Iran over the last 18 months as part of its wider campaign to squeeze Tehran into submission,” the Wall Street Journal reports.
“Iran’s ability to withstand those sanctions so far exposes a hard fact for Washington: Economic pressure has largely failed to cow rogue regimes, as they game out more ways to sidestep U.S. restrictions.”
Meloni Tells Trump to Stop ‘Constant’ Attacks
Italian prime minister Giorgia Meloni called on President Donald Trump to end his “constant, unprovoked attacks” on her character, The Wrap reports.
Said Meloni: “President Trump, these constant, unprovoked attacks are senseless. As for my popularity, being your friend certainly has not helped it, nor does it depend on my relationship with you.”
Trump Privately Mocked Zuckerberg and Bezos
“Meta CEO Mark Zuckerberg and Amazon founder Jeff Bezos sought to ingratiate themselves with President Donald Trump after he won the 2024 election, and in return he mocked their efforts behind their backs, according to a new book by the New York Times reporters Maggie Haberman and Jonathan Swan,” Wired reports.
Mediaite: Explosive book details Musk and Trump mocking Bezos and Zuckerberg.
Oil Market Faces Months of Uncertainty Despite Deal
The Economist: “The optimists may be getting ahead of themselves—especially in the short term. Wary buyers are not yet placing large orders for Gulf crude… Even if the deal holds, tankers must start returning to the Gulf, not just leaving it, production must restart and refining ramp up worldwide—all of which will take time.”
“Before any of that, the strait must first be cleared of mines.”
Russia Faces Spreading Fuel Shortages
“Ukraine is pounding Russian oil refineries with long-range drone strikes, leading to restrictions on fuel sales, surging gasoline prices and huge lines of cars outside gas stations hundreds of miles from the front lines,” the Wall Street Journal reports.
Trump Threatens Hormuz Toll if Iran Deal Fails
President Trump threatened to impose U.S. tolls in the Strait of Hormuz if a final deal with Iran isn’t reached in 60 days, saying the money would be for “services rendered as the Guardian Angel to the countries of the Middle East,” Associated Press reports.
Israel and Hezbollah Are Still Fighting
“After a cease-fire was announced in Lebanon on Friday afternoon, the sixth such effort in a matter of weeks, little had changed 24 hours later as the truce once again devolved into more Israeli strikes and Hezbollah fire,” the New York Times reports.
“Israel pounded towns and villages across southern Lebanon on Saturday, killing at least seven people and wounding more than a dozen, according to Lebanon’s health ministry.”
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