Commentary

The “bottleneck” in the Strait of Hormuz is shaking the global economy, with millions of barrels of oil disappearing from the market every day. Beyond energy prices, the shock is rapidly spreading to supply chains, inflation, and global growth, raising the risk of a crisis that could be worse than the COVID-19 pandemic.

After months of delay, the European Parliament (EP) has finally given the green light to a trade agreement between the European Union (EU) and the US, albeit with a number of conditions attached.

Sixty-six members of the World Trade Organisation (WTO) have adopted an e-commerce agreement, establishing a legal framework to facilitate faster and more seamless online transactions.

The conflict in the Middle East shows no signs of easing. The Strait of Hormuz remains closed, numerous oil and gas facilities in the region have suspended operations, and countries are scrambling to secure alternative supplies, tap into strategic reserves, and even resort to improvised measures to stabilise their domestic energy markets.

Escalating conflict in the Middle East has caused immeasurable human and material losses, leaving regional security hanging by a thread and triggering large-scale, unsafe irregular migration flows. As a result, Europe once again finds itself on edge.

The newly formed Rastriya Swatantra Party (RSP) secured a landslide victory in Nepal’s recent parliamentary election, injecting fresh vitality into the South Asian nation’s politics after profound upheaval. New leaders now face both high expectations and pressures as a comprehensive test of their governance, substantive reforms, and social stability.

The European Union (EU) and Australia have announced the conclusion of negotiations and the signing of a bilateral Free Trade Agreement (FTA). This rather unexpected announcement has been warmly welcomed by people across Europe and Oceania, who have waited nearly a decade for a firm handshake between the two continents in the field of trade.

Amid increasingly extreme climate conditions, the agenda of the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31) continues to draw significant global attention. At the forefront is the urgent need to find effective solutions to save island nations facing the risk of disappearance.

Japanese Prime Minister Takaichi Sanae’s US visit marks a step towards realising the goal of ushering in a new golden era in the Japan-US alliance. The trip is also seen as a defining diplomatic moment for Japan’s first female leader.

The Nordic countries and Canada have agreed to strengthen cooperation in defence and security, promote green economic growth, and enhance the resilience of their economies and societies to crisis “shocks”, amid a world facing numerous challenges.

The rapidly escalating military tensions between Afghanistan and Pakistan since late February, beyond bilateral issues, have also exposed Central Asia to new risks. The conflict not only affects regional security, but also threatens to cause major political, economic, and international security disruptions.

A recent nuclear energy summit held in France attracted particular attention from the international community as many countries discussed solutions to make nuclear power a pillar of the global energy system.

Controlling migration flows has long been a sensitive and highly contentious issue on Europe’s political stage, and it remains a central theme in election campaigns across the continent.

Escalating conflict in the Middle East has pushed the global energy market into a period of serious instability, with oil prices rising steadily while supply continues to tighten. In this context, many countries are rushing to release strategic reserves in an effort to cool the surge in oil prices.

The European Centre for Disease Prevention and Control (ECDC) and the Africa Centres for Disease Control and Prevention (Africa CDC) have signed their first memorandum of understanding, formally establishing cooperation between the two agencies.

The US Senate has just voted again on the budget bill for the Department of Homeland Security (DHS), but the result is no different from previous times. The opposition from the Democrats in the Senate is making it difficult for the Republicans to open the budget door to help DHS resume operations after three weeks of paralysis due to depleted funds.

Escalating tensions between the US, Israel, and Iran have raised concerns about rising inflationary pressures and potential negative impacts on global economic growth. Should tensions and instability persist, supply shocks caused by disruptions to supply chains could emerge, casting a shadow over economic prospects.

The direct military confrontation between the US, Israel, and Iran is pushing global energy markets towards their most severe shock in decades.

In the opening months of 2026, smouldering tensions between nations have suddenly flared into open conflict, threatening to spread further. As successive “red lines” are crossed and strategic calculations overshadow trust, the world faces many crises, making diplomatic solutions more urgent than ever.

The European Commission (EC) has decided to provisionally implement the Free Trade Agreement (FTA) with the Southern Common Market (MERCOSUR), despite legal challenges it may face. This move demonstrates the EU’s efforts to implement its strategy of diversifying partnerships, strengthening autonomy, and reinforcing supply chains.