Day 70 overnight : ceasefire tested
* US and Iran exchange fire in the Strait
* US struck Iranian targets in response to an attack on 3 American destroyers transiting the waterway
* Trump warns on TS: “just like we knocked them out again today, we’ll knock them out a lot harder, and a lot more violently, in the future”. However, he told reporters the ceasefire is still in effect
* CentCom: US forces “eliminated inbound threats and targeted Iranian military facilities responsible for attacking US forces including missile and drone launch sites; command and control locations; and intelligence, surveillance and reconnaissance nodes”
* Iran said the US air strikes had targeted parts of Iran’s coast, including Bandar Khamir, Sirik and Qeshm Island, and had happened “with the co-operation of some regional countries” (FT)
* Trump tells ABC @rachelvscott that the retaliatory strikes against Iranian targets were just a "love tap” and ceasefire is still on
* No response from Iran on the one page memo yet
* Iran’s ISNA said reports on elements of the proposal amount to “media speculation and atmosphere-building,” adding that nuclear enrichment is not part of the current discussions.
* WSJ reports that Saudi Arabia and Kuwait have lifted restrictions on the US military’s ability to use regional bases
* Israel said it killed a Hezbollah commander in a southern suburb of Beirut in Wednesday’s attack (first since ceasefire on the capital). IDF has continued to strike S Lebanon. Another 12 people killed per Lebanese Health Ministry (>2700 in total)
* IDF say 17 soldiers have been killed in Lebanon
* US will host 3rd round of Israel Lebanon ambassadorial level talks May 14/15. President Aoun said higher level talks would only be appropriate after Israel halts strikes
* US gasoline prices topped $4.50 a gallon for the first time since July 2022,
Brent at $101
Goldman Sachs MENA Senior Economist Farouk Soussa tells @JoumannaTV that "deep pockets" and "patient capital" will help Gulf economies rebound from the impact of the Iran war https://t.co/LwHAaDfHYr
Our Exclusive today with Todd Boehly, CEO & Chairman of Eldridge Industries on their new fund launch, Abu Dhabi offices/ regional opportunities in sport, media, infrastructure & investment outlook for 2025
NEWS: Bloomberg @technology has a new time starting next week. 8am on the West Coast, 11am in New York, 4pm in London on @BloombergTV.
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Here is why you should check it out!
Daniel Ricciardo of AlphaTauri says he hopes to race for Red Bull again, as he prepares to make his return to F1 with AlphaTauri in Hungary this weekend
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Eurasia Group’s Top Risks for 2023
1. Rogue Russia
2. Maximum Xi
3. Weapons of mass disruption
4. Inflation shockwaves
5. Iran in a corner
6. Energy crunch
7. Arrested global development
8. Divided States of America
9. Tik Tok boom
10. Water stress
@ianbremmer@tomkeene