Trump Always Chickens Out, so goes the Wall Street acronym about the president’s wilder policies. But in war it takes at least two to TACO. So the US president might back off escalation and say secret talks with the Iranians are going well, but Iran denies they have even started, and Israel continues to attack targets across Iran and Lebanon.
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The Strait of Hormuz remains closed, and the economic shock facing the world has not abated, but financial markets have bounced on even the possibility this war might end.
Diplomacy in the era of the Cold War was described as a wilderness of mirrors, in the age of Trump it is a carnival of contradictory press conferences, posing more questions than it answers, with the whole world hanging on the uncertain words of the erratic and unpredictable man in the White House.
According to Donald Trump, after postponing his threat to attack power plants, Iran is ready to make a deal, declaring "we’ve eliminated everything there is to eliminate".
Meanwhile Iran has denied that any talks have taken place and insisted they still have full control over the Strait of Hormuz. While reports in Israeli media claim that mediating countries are trying to arrange a summit between the US and Iran in the coming days.
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0:00 – Trump postpones Iran ultimatum
5:40 – Oil prices surge and plummet
8:49 – Oil is Iran’s ‘low-cost’ global disruption tool
14:48 – Global diplomacy needed to end Iran war
19:59 – Iran war ‘could go on for some time’ says Keir Starmer
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