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The U.S. and Iran have tentatively agreed to extend their ceasefire by 60 days and begin nuclear talks, though Trump has yet to sign off.

This comes as Netanyahu ordered the IDF to expand territorial control in Gaza to 70%, contradicting an existing ceasefire, and as a Russian drone struck a residential building in Romania after crossing into NATO airspace.

Read more below ⤵️

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1️⃣ 🇺🇸🇮🇷 US-Iran ceasefire extension and nuclear talks tentatively agreed: The U.S. and Iran have reached a tentative deal to extend their ceasefire by 60 days and begin nuclear talks, though VP Vance said Trump has yet to sign off. Under the terms, Iran would be barred from Strait of Hormuz tolls and required to remove all mines within 30 days, while the U.S. would gradually lift its naval blockade and ease oil sanctions.

2️⃣ 🇺🇸🇴🇲 Trump threatens to "blow up" Oman over Hormuz tolls: The Middle East Eye reported that President Trump warned he would attack Oman if it cooperates with Iran on Strait of Hormuz tolls, amid administration frustration with Muscat's public criticism of the U.S.-Israeli war. Oman, which shares territorial waters in the strait with Iran, has increasingly taken a backseat in ceasefire negotiations despite holding the oldest U.S.-Gulf diplomatic ties dating to 1790.

3️⃣ 🇮🇱🇵🇸 Netanyahu orders IDF to seize 70% of Gaza: Netanyahu directed the IDF to expand territorial control in Gaza from 60% to 70%, contradicting the terms of the October 2025 ceasefire, as U.S.-brokered talks between Israel and Hamas remain deadlocked. Israeli strikes this week killed several senior Hamas figures, including the newly appointed head of its military wing, alongside civilian casualties reported across Gaza City and Khan Younis.

4️⃣ 🇪🇺🇨🇳 EU holds crunch talks on Chinese import restrictions: EU commissioners met Friday to discuss potential curbs on Chinese imports amid fears a surge in goods priced up to 40% cheaper than local products could hollow out European industry. No decisions were taken, with the discussions feeding into a leaders' summit on 18 June, where China is on the agenda.

5️⃣ 🇺🇦 Ukraine targets Russia's Crimea supply corridor: Ukraine is striking Russian supply roads and logistics infrastructure well behind front lines using mid-range drones with a range of up to 300 kilometres, with Kyiv claiming the campaign has slowed Russian assault operations. Ukraine has reclaimed around 590 square kilometres since the start of the year, though Russia continues to advance in northern and eastern Ukraine.

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Major Story

🇷🇴🇷🇺 Russian drone crashes into Romanian apartment building

A Russian drone involved in an overnight attack on Ukraine crossed into Romanian airspace and struck a residential building in the Danube city of Galați, injuring two people and starting a fire that prompted evacuations. Romania's defence ministry said the military scrambled two F-16 jets and a helicopter authorised to engage targets, while Romania's foreign ministry condemned the incident as a "grave and irresponsible escalation" and a serious breach of international law. 

Bucharest said it would pursue diplomatic measures in response and has asked NATO to accelerate the transfer of anti-drone capabilities to the country. NATO condemned what it called Russia's recklessness and pledged to strengthen defences against drone threats, while the UN secretary general separately warned this week that civilian deaths in the Russia-Ukraine war in the first four months of 2026 already exceed those recorded in the same period of the previous three years.

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Other News

1️⃣ 🇪🇺 EU's six largest economies strike financial markets deal: Germany, France, Spain, Italy, Poland and the Netherlands reached an agreement in Berlin to advance the bloc's markets integration and supervision package, a long-running push to build a U.S.-style financial market. A dispute over expanding ESMA's supervisory powers was resolved by agreeing to act "as soon as possible" without a fixed timeline, though the group now faces the broader challenge of securing buy-in from all 27 member states.

2️⃣ 🇷🇺 Russia weighs spending cuts as budget deficit surges: Russia's Finance Ministry is reviewing non-defense spending cuts as the federal budget deficit hit 5.8 trillion rubles in January-April, more than double the same period last year. Analysts warn the government faces a stark choice between cutting expenditure or raising new taxes, with growth now forecast at just 0.4% and the National Wealth Fund already outstripped by the deficit.

3️⃣ 🇺🇸🇵🇸 Trump's Gaza reconstruction fund remains empty: The Financial Times revealed that a senior U.S. official travelled to Saudi Arabia in April to chase a promised $1bn pledge for Trump's "Board of Peace," which has received no money into its World Bank fund four months after its creation. Gulf pledges remain unfulfilled, $100m in UAE funding for a Palestinian police force is frozen, and a separate undisclosed JPMorgan account has raised transparency concerns over who is financing the board.

4️⃣ 🇺🇦🇧🇾 Ukraine fortifies Belarus border amid escalation fears: Ukraine is expanding fortifications along its entire 1,085-kilometre border with Belarus, with engineering works on the frontier and deeper defences being constructed behind it under direct instructions from Zelensky. The effort mirrors moves by Latvia, Lithuania and Estonia, all of which are reinforcing their own borders with Russia as part of a broader NATO eastern flank defence push.

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