"Opening the Strait of Hormuz and ending the conflict are critical to reducing economic impact."
— Eurogroup President Kyriakos Pierrakakis
G7 Ministers Confront War’s Economic Fallout
G7 finance ministers and central bank governors meet in Paris on Monday to address the economic shock stemming from the Iran war. Borrowing costs across G7 countries have increased, raising long-term inflation concerns, while global oil inventories are declining at a record pace.
Geopolitics & Diplomacy
Russian President Vladimir Putin will travel to Beijing to meet Chinese President Xi Jinping. The Kremlin stated they will discuss bilateral matters, strategic cooperation, and international issues.
The White House announced that China will purchase at least $17 billion of U.S. agricultural goods annually through 2028. American officials also stated Beijing would address rare earth shortages, though China's statement did not mention this.
Markets & Tensions
Asian-Pacific stocks are mostly lower due to geopolitical tensions.
U.S. President Donald Trump posted on Truth Social that "the Clock is Ticking" for Iran and warned of destruction if action is not taken soon.
South Korea's Kospi index rose after last week's steep losses. Foreign investors sold over $13 billion in local equities last week, causing near-record volatility.
Corporate & Sector News
Ryanair reported a 40% increase in profit after tax for fiscal year 2026. CFO Neil Sorahan said the airline plans to operate a full summer schedule as fuel supply issues ease.