Monday, November 9, 2026
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EU and US near critical minerals deal to combat Chinese control, Bloomberg News reports

The potential deal would include incentives such as minimum price guarantees that could favour non‑Chinese suppliers, the report said, citing an “action plan”

International News via Reuters:

The European Union and Washington are closing in on an agreement to coordinate on producing and securing critical minerals, Bloomberg News reported on Friday. 

The potential deal would include incentives such as minimum price guarantees that could favour non‑Chinese suppliers, the report said, citing an “action plan”.

The EU and U.S. would also cooperate on standards, investments and joint projects, along with increased coordination on any supply disruptions by countries like China, the report added. 

The European Commission declined to comment on the report. The office of the U.S. Trade Representative did not immediately respond to Reuters’ requests for comment.

EU trade commissioner Maros Sefcovic said in March he had a “very positive” meeting with U.S. Trade Representative Jamieson Greer on the sidelines of a World Trade Organization ministerial meeting in Cameroon, where the two sides agreed to further advance work on critical minerals and also discussed tariffs.

The EU-U.S. deal would cover “critical minerals along the entire value chain and life-cycle management, including exploration, extraction, processing, refining, recycling and recovery,” Bloomberg reported, citing a non-binding memorandum of understanding. 

The U.S. has been scrambling to get access to critical mineral reserves, ​especially rare earth supply chains currently dominated by Chinese players.

Reporting by Anusha Shah in Bengaluru; Editing by Toby Chopra and Kate Mayberry

World Food Programme warns Lebanon facing food security crisis due to Iran war

Lebanon faces a two-layered crisis, in which some markets have fully collapsed – especially in the south, where more than 80% of markets are no longer functioning – while those in Beirut are under increasing strain

International News via Reuters:

Lebanon is facing a food security crisis as the Iran war disrupts supplies of goods inside the country, the United Nations World Food Programme said on Friday.

A fragile two-week ceasefire between the U.S. and Iran showed further strain on Friday, a day before they are expected ​to negotiate in Pakistan, as Washington accused Tehran of breaching promises on the Strait of Hormuz and Israel struck Lebanon with attacks that Iran has ‌claimed violate the truce.

“What we’re witnessing is not just a displacement crisis, it is rapidly becoming a food security crisis,” said World Food Programme country director Allison Oman, speaking via video link from Beirut.

She warned that food was becoming increasingly unaffordable due to rising food prices and rising demand among displaced families.

Lebanon faces a two-layered crisis, in which some markets have fully collapsed – especially in the south, where more than 80% of markets are no longer functioning – while those in Beirut are under increasing strain, Oman said.

Many traders are reporting less than one week of essential food stocks remaining, she added.

The ability to deliver food aid into hard-to-reach areas in the south, which has faced heavy bombardment by Israeli airstrikes since March 2, was becoming increasingly difficult.

A WFP convoy that entered the south this week took over 15 hours, when it normally should have taken hours.

Reporting by Olivia Le Poidevin, Editing by Miranda Murray

Pound dips but set for biggest weekly rise since January on Iran hopes

Sterling slipped 0.15% to $1.342 but was on track for a weekly increase of 1.7%, the biggest such rise since mid-January

International News via Reuters:

The pound fell slightly on Friday but was still set for its biggest weekly increase in three months after the U.S.-Iran ceasefire raised hopes for an end to a conflict that has sent energy prices soaring and threatened global growth.

Sterling slipped 0.15% to $1.342 but was on track for a weekly increase of 1.7%, the biggest such rise since mid-January.

The pound rallied 0.7% on Wednesday after U.S. President Donald Trump announced an agreement on a two-week ceasefire that would see Iran reopen the key Strait of Hormuz, through which 20% of global oil and liquefied natural gas shipments typically flow.

However, the ceasefire was looking fragile on Friday, a day before negotiations were due to take place in Pakistan. Trump said Iran was doing “a very poor job” of letting oil through the strait and Israel continued to strike Lebanon.

“Financial market moves overnight generally have been relatively modest,” said Lloyds Bank analysts Sam Hill and Nicholas Kennedy in a research note.

“It looks like markets are pinning their hopes on positive developments in negotiations in Pakistan over the weekend.”

The pound fell 1.9% against the dollar in March as energy prices shot higher and stock markets tumbled, pushing investors towards the U.S. currency, which is seen as a safe haven in times of stress.

Britain’s economy is also highly reliant on energy imports, adding to the pressure on the pound in March as investors braced for a hit to growth.

Yet the dollar index, which tracks the currency against six peers, was on track for its biggest weekly fall since mid-January on Friday as investors sold the greenback to move back into stocks, bonds and other currencies.

The euro was little changed against the pound on Friday at 87.06 pence. It has fallen around 0.7% against sterling since the war began as traders have tried to gauge who will take the biggest economic hit.

Reporting by Harry RobertsonEditing by Gareth Jones

Bermuda Walls returns to Hamilton

Family-friendly festival features artists, music and a spring market

Bermuda Walls returns this week for a vibrant celebration of street art which will see the creation of new murals across Hamilton, bringing together local and international artists in a collaboration inspired by Bermudian heritage.

From today, the public are invited to keep their eyes peeled as muralists begin work across the city, transforming walls in real time. Festival organisers encourage the community to follow along on social media for updates on weather and where to see the latest works in progress.

This year’s mural locations include the BEDC building, Press Courts (the former Royal Gazette building), Butterfield & Vallis, Boyle’s Building on Church Street and ESC on Mill Creek, continuing the festival’s mission to bring colour and creativity to the urban landscape.

The Bermudian artists featured this year are Adrienne Smatt, Alice Coutet, Alshanté Foggo, Carlos Santana, DaeLyn Saint-Surin, Damon Rabain, Jahbarri Wilson, James Cook, Kathy Carter, Kay the Healer, Keile Rabain, Kyle Simmons, Natalie K Sannemalm, Nanohour, Shanna Hollis and Tai-Quan Ottley. They will be joined by international muralists Hiero, Tati, Quake, Ripes, Bacon, Lauren YS, Rafique and Jahna Rae.

On Sunday, the public is invited to witness the murals in progress while enjoying a free, family-friendly day out. Festivities begin at 11am and will include music from Rusty G, a jump rope contest at 12:15pm, a pop-a-wheelie competition at 12:45pm – hosted by Mr Fotogenik – a Secret Walls Battle at 1:30pm and a closing Gombey dance at 3pm.

As part of this year’s family-friendly festival, the Secret Walls Battle will see two teams made up of local and overseas artists go head-to-head in a timed mural-off, offering spectators a unique chance to experience live art in action.

Food, drinks and activities will be available throughout the day, including offerings from Ashley’s Lemonade, Dizzy Dome, Bermuda Cupcake Company and Hotdog Delight, along with Paintz Facepainting for younger attendees.

The weekend’s festivities have been extended, with Bermuda Walls and ESC hosting a Spring Market at ESC from 10am to 1pm on Saturday. The market will feature local vendors, a kids’ zone with arts and crafts and a 10% storewide discount at ESC. Additional parking will be available at FedEx.

A second, Bailey’s Bay-centric event featuring local artists will take place on April 26th, with more details to be announced soon. Early information can be found at https://bermudawalls.com/baileysbay.

‘Bermuda Walls continues to grow in both scale and impact,’ said Spencer Butterfield, CEO of Butterfield & Vallis and Co-Founder of Bermuda Walls. ‘Each year, we see more people engaging with the art, the artists and the energy that this festival brings. It is about transforming spaces while celebrating Bermudian culture and heritage.’

Nhuri Bashir, co-founder of Burnt House Productions and Bermuda Walls, said: ‘There’s something so cool and special about seeing art unfold in real time across the island. This year’s theme and artist lineup are going to make for an unforgettable experience.’

Glayson Leroy, co-founder of Bermuda Walls added: ‘The support from the community has been incredible. We’re excited to keep building on that momentum and to share another year of bold, inspiring work.’

The Bermuda Walls festival celebration will take place this Sunday from 11am to 4pm. No tickets are required. Attendees are encouraged to follow @bermudawalls on Instagram for updates.

The event is made possible by further sponsorship and support from Butterfield & Vallis,, Hamilton Princess & Beach Club, BermudAir, Bermuda Economic Development Corporation, Monster Energy, Monster Music, All Rise Ltd., Current Vehicles, Take Five Catering, BDA Spirits, Molotow, Burnt House Productions, Galera Collective, World Wide Walls, Secret Walls and Sprayz.

‘Lives at risk’ due to hospital overcrowding

Dr Ed Shultz, a veteran of front line emergency care, cites dangers and offers solutions to a ‘worsening’ problem

We are facing a worsening healthcare crisis that puts lives at risk – and the hospital is not doing enough to prevent it.

This is the position of 30-year veteran of emergency care in Bermuda, former hospital Chief of Emergency, Dr Edward Shultz. (READ his letter below, WATCH his comments above)

Going public with his concerns for the first time today, he cites poor building design and inadequate planning for an aging population as factors that have led to near-constant overcrowding at the hospital.

Admitted patients are remaining in emergency when they should be transferred to wards, while patients fit for discharge are blocking beds.

He says Government must provide more funding to enable the necessary level of care, but he praises their commitment to providing better aftercare in the community for exiting patients.

However, he says it’s the hospital itself that is failing to take immediate on-site measures which could relieve the burden on emergency staff, and reduce the risk to patients.

Ultimately, Dr Shultz is calling for an independent, non-partisan commission of enquiry into Emergency Care in Bermuda.

Dr Shultz notes that this is not on the emergency staff, who he says are doing a stellar job trying to manage a terrible situation.

Dr Shultz lays out a number of potential solutions…

He calls on Government to adjust the cap on financial support for the hospital that was implemented in 2019, to, for example, help fund any necessary new staff to address overcrowding, and to create more nursing home beds in the community.

He acknowledges Government’s efforts in providing more community care, but notes that is a long-term solution.

It’s the hospital that must act now, he says, by creating a discharge lounge with a strict 24-hour collection policy, by converting available space to hold patients at ties of peak capacity, and – what he says would be the first thing he would do – boarding admitted patients on wards or overflow units.

WATCH the report above…


Gov’t defends Boaz housing plan, confirms appeal

Residents’ concerns noted, but modular housing deemed essential to tackle urgent demand says Government

The Government acknowledges the concerns raised by residents of Boaz Island regarding the proposed modular housing development, and we thank community members for taking the time to engage in this important discussion.

We recognise that Boaz Island is a close-knit residential area, and it is entirely appropriate that residents seek clarity on how any proposed development may impact their neighbourhood. Issues such as density, infrastructure, traffic, safety, and environmental considerations are all valid and are taken seriously as part of the planning and review process.

The planning application for this development remains active and subject to the full planning process, which includes considering objections, technical assessments, and all relevant environmental and safety requirements. The concerns raised by residents will form an important part of that review. As modular housing is one of several essential tools to address Bermuda’s urgent housing needs, the Bermuda Housing Corporation will be appealing the Development Applications Board’s refusal of a recent application.

Regarding on-site activity, the Government is aware of concerns regarding tree clearing and the subsequent pause in work. If environmental safety issues arise, appropriate steps will be taken to ensure all work is carried out safely and in accordance with regulations. It should be noted that, contrary to recent reporting, no asbestos has been found on the site to date. Further clarification on the site’s status and next steps will be provided as the relevant assessments are completed.

At the same time, Bermuda is facing a very real and urgent housing challenge. Increasing housing supply, including through transitional and modular solutions, is a critical part of ensuring that more Bermudians have access to safe and stable housing as soon as possible.

The benefits of modular housing are significant and should not be overlooked. It enables faster delivery of homes while longer-term housing solutions are progressed, helping to meet immediate demand. At the same time, any such development must be carefully assessed to ensure it is appropriate for its location and responsive to the concerns of the surrounding community.

We also acknowledge the call for greater communication. While initial engagement has taken place, we accept that residents are seeking more detailed, site-specific information. The Government, through the Bermuda Housing Corporation and relevant departments, will continue to engage with the community to provide clarity on the proposal, including its scope, duration, and management.

The Government remains committed to a balanced approach, one that addresses the urgent need for housing while respecting the character and concerns of our communities. We will continue to listen, to engage, and to ensure that decisions are made transparently and in the best interest of Bermuda as a whole.

Media release supplied by the Government of Bermuda.

What’s on this weekend

From film screenings and networking after-hours events to circus-style entertainment – lots of events coming up this weekend.
Kendal Trott has an update on what’s happening.

Equities turn around on renewed Middle East hopes, oil loses some steam 

Wall Street stocks turned from red to green after the statement seemed to ease worries that Israel’s actions in Lebanon would torpedo U.S. President Donald Trump’s truce with Iran

International News via Reuters:

MSCI’s global equities gauge reversed course to turn higher on Thursday and oil’s rally eased after Israel indicated willingness for peace talks with Lebanon, renewing hopes for the fragile Gulf truce.

The U.S. dollar added to losses and U.S. Treasury yields turned lower after Israeli Prime Minister Benjamin Netanyahu said he has given an instruction for Israel to begin peace talks with Lebanon that would also include the disarming of Hezbollah, which is linked to Iran.

Wall Street stocks turned from red to green after the statement seemed to ease worries that Israel’s actions in Lebanon would torpedo U.S. President Donald Trump’s truce with Iran. Earlier, Israel had bombed Lebanon  killing more than 250 people. This was after Iran had indicated that Lebanon should be part of the ceasefire.

The strikes and scant signs of opening the Strait of Hormuz by Iran had sent oil prices sharply higher earlier in the day.  After earlier rising above $102, U.S. crude was up 3.43% at $97.71 a barrel in early afternoon trading and Brent, after rising earlier to $99.50 was trading at $95.50 per barrel, up 0.8% on the day.

While Michael O’Rourke, chief market strategist at JonesTrading in Stamford, Connecticut said that weekend peace talks could bring some insight and promise, he noted that it could “take a little while before investors have confidence in the outlook for the war and where oil prices are going.”  

“You’ve had a major equity rally where the index is only down a little more than a percent on the year. There’s nothing attractive about chasing this tape at these prices,” he said.

On Wall Street at 12:18 p.m., the Dow Jones Industrial Average was up 281.82 points, or 0.59%, to 48,191.74, the S&P 500 rose 42.46 points, or 0.63%, to 6,825.27 and the Nasdaq Composite was 172.96 points, or 0.76%, higher at 22,807.95. 

MSCI’s gauge of stocks across the globe  rose 2.77 points, or 0.27%, to 1,033.82.

The pan-European STOXX 600 index closed down 0.15%.

Overnight in Asia, Japan’s Nikkei fell 0.7% after jumping more than 5% on Wednesday. South Korea dipped 1.6%, following a leap of 6.8% in the prior session and MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.7% after Wednesday’s roughly 5% rally.

ASSETS TURN ON MID EAST HOPES

In U.S. Treasuries, the yield on benchmark U.S. 10-year notes fell 2.2 basis points to 4.269%, from 4.291% late on Wednesday while the 30-year bond yield  fell 1 basis point to 4.8755%.

The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, fell 4.4 basis points to 3.75%, from 3.794%.

In currencies, the dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.37% to 98.69, with the euro up 0.43% at $1.1712.

Against the Japanese yen, the dollar strengthened 0.09% to 158.72.

In precious metals markets, spot gold rose 1.63% to $4,793.07 an ounce while spot silver was up 2.66% at $76.09 an ounce. 

With oil prices still sharply higher than pre-war levels, inflation has been a major concern for investors, with March U.S. Consumer Price Index (CPI) data due to be released on Friday before the market open. 

Thursday’s data showed the PCE index of U.S. core prices for February up 2.8% on an annual basis and 3% excluding the volatile food and energy components. Both figures were in line with economists’ forecasts although a separate report showed fourth-quarter U.S. economic growth of 0.5% versus estimates for 0.7%.

Reporting by Sinéad Carew, Marc Jones; Editing by Hugh Lawson, Kirsten Donovan

Spain ramps up criticism of Israel, US, defying Trump threats

Spain’s opposition to the Iran conflict has further strained its relations with Washington, and figures within President Donald Trump’s MAGA movement are increasingly urging the U.S. leader to punish Madrid

International News via Reuters:

Spain decried Israeli strikes on Lebanon as well as the broader war on Iran on Thursday, cementing Madrid’s role as an outspoken critic of the U.S. and Israeli military campaigns despite U.S. threats to punish uncooperative NATO allies.

Spain’s opposition to the Iran conflict has further strained its relations with Washington, and figures within President Donald Trump’s MAGA movement are increasingly urging the U.S. leader to punish Madrid.

In remarks to lawmakers, Foreign Minister Jose Manuel Albares described the conflict as an attack on civilization, echoing scathing criticism heaped by Prime Minister Pedro Sanchez on Trump’s decision to attack the Islamic Republic.

“We’re facing the greatest assault on the civilisation built upon the humanist ideals of reason, peace, understanding and universal law over the abuse of power, brute force and arbitrariness,” Albares said.

He accused Israel of violating international law and the newly brokered two-week ceasefire after a massive wave of airstrikes across Lebanon killed more than 250 people on Wednesday.

Sanchez, who has emerged as a leading opponent of the war, has closed Spanish airspace to any aircraft involved in a confrontation he has described as reckless and illegal.

On Wednesday night, he reiterated his call for the European Union to scuttle its association agreement with Israel, urging an end to “impunity for (Israel’s) criminal actions”.

FUTURE OF AIR BASES

In a post on X, Sanchez said Israeli Prime Minister Benjamin Netanyahu’s “contempt for life and international law is intolerable”.

Sanchez has welcomed the Pakistani-brokered ceasefire, but said Spain would “not applaud those who set the world on fire just because they turn up with a bucket,” in reference to the U.S. administration.

Also on Wednesday, Spain and Italy both summoned Israeli envoys in protest at separate incidents involving U.N. peacekeepers in Lebanon. Madrid said a Spanish UNIFIL member had been unjustly detained by the Israeli army.

Spanish ties with the U.S. took a hit last year when Madrid rejected Trump’s demand that NATO allies ramp up their defence spending to 5% of gross domestic product. Madrid’s stance led Trump to threaten to cut off all trade.

Republican Senator Lindsey Graham said in March the U.S. should pull out from two jointly operated air bases in southern Spain and move “to a country that will allow us to use them”.

Earlier this week, Albares said Trump publicly mulling a withdrawal from the alliance was prompting European countries to consider alternative security arrangements.

HOPES FOR PEACE

In Spain, the government’s position remains widely popular, as polls show an overwhelming majority rejects the war. According to recent surveys, Sanchez’s Socialist Party has gained voter support while far-right Vox, which backed the U.S. and Israel, has seen a decline.

In European capitals, however, his approach has been met with some derision.

“I never agree with Sanchez because he has a vision of the world that is the opposite of mine. He says one thing and then does another,” said Matteo Salvini, Italy’s Deputy Prime Minister and leader of the far-right League party, when asked at a press conference on Wednesday about Sanchez’s condemnation of the war in Iran.

German officials told Reuters they viewed Sanchez’s confrontational stance as aimed at a domestic audience and unconstructive for preserving NATO unity. Germany has been openly critical of Spain’s refusal to increase its defence spending in line with other members of the alliance.

Among the conservative-led German government’s Social Democrat coalition partners there is more sympathy.

“Sanchez expresses things about the U.S. policy we would like to say as well,” one lawmaker said.

Jimena Blanco, chief analyst for risk consultancy Verisk Maplecroft, said Sanchez saw himself as a standard bearer among dwindling leftist leaders in the West.

“My sense is he is trying to create unity by not allowing NATO partners in Europe to be pushed around or engage in a conflict that is not conducive to NATO’s interests,” she said.

Spain’s foreign ministry said in a statement that Spain and Europe and the U.S. were natural allies and Spain was determined to maintain its long relationship with the U.S. based on dialogue, mutual respect and mutual benefit.

“Spain is a responsible ally and committed to NATO, European and Transatlantic security,” it added.

Reporting by David Latona and Emma Pinedo; Additional reporting by Aislinn Laing, Andreas Rinke, James Mackenzie and Giselda Vagnoni, Editing by Andrei Khalip, William Maclean and Nia Williams

European shares pull back as fragile US-Iran truce weighs on sentiment

The pan-European STOXX 600 index was down 0.2% at 612.59 points, after paring earlier losses following reports Israel and Lebanon could start direct negotiations soon

International News via Reuters:

European shares retreated on Thursday, after their strongest rally in over four years, as investors remained wary about a fragile U.S.-Iran ceasefire and its implications for oil prices and global inflation.  

The pan-European STOXX 600 index was down 0.2% at 612.59 points, after paring earlier losses following reports Israel and Lebanon could start direct negotiations soon.

Major regional bourses were also lower, with Germany’s DAX down 1.1%, while France’s CAC 40 <.FCHI> fell 0.2%.

European markets rallied on Wednesday after U.S. President Donald Trump agreed to a two-week ceasefire, sparking optimism that oil and gas shipments through the crucial Strait of Hormuz might resume operations.

However, Israel continued military operations in Lebanon on Wednesday while Tehran did not lift its near-total blockade of the Strait leading to renewed concerns over the economic impact of the conflict.

“(Yesterday’s) rebound was very overdone given the fact that it is still just the two-week ceasefire and today obviously there is concerns over the durability of that ceasefire and the key focus for the market remains the Strait of Hormuz,” said Fiona Cincotta, senior market analyst at City Index.

“With or without a ceasefire, if the Strait remains closed, the economic impact of the conflict remains … we’re seeing the market price in this caution.”

European markets have been under pressure since February when the conflict began, given the continent’s heavy reliance on oil imports and vulnerability to an energy shock.

The industrial sector weighed the most, down 0.5%. Germany’s Siemens dropped 2.1% while Airbus fell 2.5%.

Travel, banks and technology stocks all traded in the red, after logging strong gains in the previous session.  

Software and IT stocks came under pressure tracking their Wall Street peers. German software maker SAP dropped 6.8%, hitting its lowest level since January 2024.

IT budget growth is set to slow to 2.6% over the next 12 months with macro uncertainty potentially leading to delays in big projects, according to Citi’s quarterly survey of chief information officers.

The luxury sector dropped 0.7% with heavyweight LVMH sliding 3%.

Conversely, the energy sector gained almost 2% as oil prices rose on the day.

Investors parsed official data that showed headline inflation in the U.S. picked up on a monthly basis. Economists expect the surge in energy prices amid Middle East tensions to show up globally within inflation figures.

Traders scaled back expectations for the European Central Bank to hike rates following Wednesday’s ceasefire announcement, but still expect two quarter-point tightening moves before year-end.

Meanwhile, a European industry lobby group that includes alcoholic drink companies has asked India for an exemption from a 10% import duty on glass bottles and aluminum cans.

Reporting by Ragini Mathur and Twesha Dikshit in Bengaluru; Editing by Rashmi Aich and Toby Chopra

NATO’s Rutte told allies Trump wants Hormuz commitments within days, diplomats say

Rutte met with Trump in Washington on Wednesday, amid tensions within the alliance over the Iran war

International News via Reuters:

NATO Secretary General Mark Rutte has briefed some capitals that U.S. President Donald Trump wants concrete commitments within the next few days for help securing the Strait of Hormuz, three European diplomats told Reuters on Thursday. 

Rutte met with Trump in Washington on Wednesday, amid tensions within the alliance over the Iran war. 

“The Secretary General is in contact with Allies about his discussions in Washington,” NATO spokesperson Allison Hart said on Thursday. “It’s clear that the United States expects concrete commitments and action to ensure freedom of navigation in the Strait of Hormuz,” she added. 

The U.S. president has repeatedly called NATO a “paper ​tiger” and threatened to withdraw from the 32-member transatlantic alliance in recent weeks, arguing that Washington’s European allies have relied on U.S. security guarantees while providing inadequate support for the U.S.-Israeli bombing ​campaign in Iran.

“We note the frustration in Washington, but they did not consult allies either before or after starting this war,” said one of the diplomats.

“NATO as such would not play a role in the war against Iran, but allies want to be helpful in seeking longer-term solutions for Hormuz. With negotiations ongoing with Iran, this could be helpful,” the diplomat said. 

Although Trump said on Tuesday the attacks on Iran would be paused under a two-week ceasefire, the fallout from the conflict has continued to strain ties. 

Trump ⁠posted on Truth Social after the meeting in capitalized letters that “NATO wasn’t there when we needed them, and they won’t be there if we need them again.”

Dutchman Rutte, known in Europe as a “Trump whisperer” and who has faced criticism for frequently praising the U.S. leader, said in an interview with CNN after Wednesday’s meeting that Trump “is clearly disappointed with many NATO allies, and I can see his point”.

A senior European official said “the NATO community is more worried right now than confident” and “the meeting did not take the worry away”.

EARLY PLANNING UNDER WAY BUT QUESTIONS REMAIN 

Britain is leading a group of around 40 countries seeking to come up with a military and diplomatic plan to reopen and safeguard Hormuz but there is little indication it will yield any near-term breakthrough. French President Emmanuel Macron said on Wednesday about 15 countries were planning to facilitate ‌the resumption of traffic through the strait.

France’s foreign minister Jean-Noel Barrot said on Thursday that Hormuz would be unable to fully reopen until there was a lasting agreement between the U.S. and Iran, while Italy and Britain said Iran’s position that it could impose a toll to cross the strait was unacceptable. 

“We have an ongoing track on Hormuz, which is largely unrelated to what happened in the White House yesterday,” said a fourth European diplomat. 

“We know the urgency on the U.S. side, and we know that Rutte is trying to position himself in a way that he is helpful in that conversation. We are willing to make the right noises and even the right actions down the line. But ultimately the problem is not to please the U.S. but to have the right conditions in place,” the diplomat added. 

Reporting by Lili Bayer and Tom Balmforth; Editing by Bart Meijer, Keith Weir and Hugh Lawson