The Strait of Hormuz is effectively closed to almost all ships except those linked to Iran as the Middle East conflict enters its second week.

No vessels were seen entering the Persian Gulf in the past 24 hours, and only a few ships—mostly Iran-linked—have managed to exit.

Many commercial vessels remain stuck on either side because of missile and drone threats following Iran’s retaliation against US and Israeli strikes.

Source: Bloomberg

Volkswagen plans to cut 50,000 jobs in Germany by 2030 after its 2025 net profit fell 44% to €6.9bn, the company’s worst result since the 2015 diesel scandal.

The automaker blamed trade tensions, weaker demand in China and the US, and rising competition from Chinese EV makers.

Luxury brand Porsche was hit hardest, with operating profit dropping from €5.3bn to €90m.

The First Ten Days of Operation Epic Fury.

Israel’s Foreign Minister Gideon Saar:

We are not looking for an endless war.

Israel’s Foreign Minister Gideon Sa'ar:

We will continue until the minute that we and our partners think is appropriate to stop.

Sipan Hamo has been appointed Deputy Defense Minister for Syria’s Eastern Region.

Source: SANA

German Foreign Minister Wadephul:

I am highly confident that U.S. and Israel are ready for a diplomatic solution.

What we hear from Tehran is that they are not ready for a diplomatic solution.

IRGC:

The Americans and Zionists' attacks on infrastructure and targeting civilians will not go unanswered.

German Chancellor Merz on Iran:

We are concerned that there is apparently no common plan for how this war can be brought to a convincing end quickly.

German Chancellor Merz on Iran:

We have no interest in the dissolution of Iran’s territorial integrity, its statehood, or its economic viability.

A scenario like the ones we have seen in Libya, Iraq, or other states in the region would harm all of us.

This affects our security, our energy supply, and potentially developments related to migration.

German Foreign Minister Wadephul:

Iran's main political goal is to eliminate the State of Israel, and this cannot be neglected, especially not by the German government.

German Chancellor Merz on Iran:

We must not view the dramatic events surrounding Iran in isolation.

They are closely connected with Russia’s war of aggression against Ukraine, and that is precisely why we must not let up now in our support for Kyiv.

While other partners are withdrawing capabilities from NATO’s eastern and northern flank, we remain engaged there.

German Chancellor Merz on Iran:

I share the hope of Trump that this war will end quickly. And if it ends quickly, we will also relatively quickly see a normalization in the oil and energy markets again.

Therefore, from our perspective – and from my perspective – there is no reason to consider easing sanctions against Russia.

And if faced with the choice between sanctions or solidarity, our position is clear: we stand on the side of Ukraine.

German Chancellor Merz:

I want to say this very clearly: the annexation steps being discussed in Jerusalem would make the two-state solution even more difficult.

The German government urgently calls for such steps in the so-called E1 area to be refrained from.

That would be a major mistake.

UN Peacekeepers Refuse South Sudan Evacuation Order

The UN mission refused a military order to leave Akobo, an opposition-held town near Ethiopia where tens of thousands have fled, warning that a planned government assault could endanger civilians & worsen displacement.

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Iranian President Masoud Pezeshkian:

Iran is the heir to a civilization at least 6,000 years old. Through the trials of history, no power has ever succeeded in erasing this storied name.

Anyone who entertains the illusion of destroying Iran knows nothing of history. Aggressors have come and gone; Iran has endured.

Iran’s Intelligence Ministry says it has arrested 30 people in recent days for allegedly spying or collaborating with the US and Israel.

One suspect, a foreign national, is accused of passing sensitive security information to two Persian Gulf governments that then shared it with the US and Israel.

Authorities say 19 others were “field and media operatives” linked to anti-government groups and contacts of Israel.