The post The NYT Reports on China: A Teachable Moment appeared first on CEPR.

Vance Slams Israeli PR Campaign To Keep War Going 'Indefinitely', & Undermine Him

In a new interview on the world's largest podcast, Vice President JD Vance warned that "elements" of the Israeli government want to keep the Iran war going "indefinitely," and were pursuing an aggressive campaign to manipulate US public opinion -- going so far as to vilify Vance for his role in pursuing a diplomatic solution. In his nearly three-hour interview on the Joe Rogan Experience, Vance also tried to gently distance himself from Trump's decision to join Israel in launching a war on Iran and said the White House had botched its communications regarding the Epstein files. 

"There are some people within [Israel's] system, we know beyond a shadow of a doubt, who are manipulating and trying to change American public opinion to keep the war going on indefinitely. Again, not towards any objective, but just indefinitely," Vance said, noting that the attacks have not only been directed against US policy, but against him personally. He directed Rogan and his audience to read a recent Time article describing the big-budget mechanism Israel has sponsored to try to shore up Republican support for the war and for Israel. 

"It’s like worth reading because it lists a bunch of people who have quite literally been paid by a former Trump campaign person who was himself paid by certain elements within the Israeli government. And those people are attacking me viciously for quite literally trying to accomplish the negotiation objective that the president set for the country."

Vance was referring to former Trump campaign manager Brad Parscale, who now runs a communications firm called Clock Tower X. He is also Chief Strategy Officer of Salem Media Group, a conservative multimedia conglomerate. Last summer, Israel started paying Parscale's firm $1.5 million a month to create 100 pieces of digital content every month to be shared across multiple social media platforms. Controversially, Parscale also promised the “integration of narrative messaging into Salem Media Network properties and aligned distribution channels.”

Quite the listen pic.twitter.com/U9TpsTa1Yt

— Curt Mills (@CurtMills) July 15, 2026

As for how to end a war that's even less popular than the Vietnam War at its worst polling, Vance defended diplomacy and ridiculed hawkish critics whose grand plan is to only to "bomb them to oblivion." While Trump has been threatening to go on a rampage against Iran's bridges and energy infrastructure if the country doesn't bend to his wishes, Vance echoed the wisdom of many military and geopolitical observers who lampoon the idea that the US military can conquer any country -- much less one that's as large as Western Europe -- using only air power: 

“You can bomb them. You can take away their radar. You can take away some of their drones and some of their missiles, but it’s just too easy to fire at ships in the straits. So, you’ve got to actually be willing to talk and to try to figure out the problem.”

With each passing week and month, the unpopularity of the war on Iran looms larger and larger where Vance's 2028 presidential ambitions are concerned. Vance has been using interviews to delicately distance himself from the decision to attack, and he did so again with Rogan. When the podcaster asked Vance about the extent to which he agreed with Trump's decision to launch a war on Iran, Vance deftly used Trump's own characterizations to distance himself from the decision:

"Well, the president said publicly that 'JD was less enthusiastic about it.' I think that was the exact phrase that he used. I mean my attitude towards this, man, as you know, is the vice president— I’m not a public commentator. My job is to give the best advice I can to the president of the United States. I think he’s said a little bit about what that advice was. 

In April, a lengthy New York Times report on the decision to start the war portrayed Vance as a skeptic who warned that a war could unleash regional chaos and involve a high number of casualties -- including damage to Trump's coalition, a large segment of which was attracted by Trump's repeated promises not to start new wars. Describing the fateful meeting on Feb 26 that preceded the war's launch two days later, the Times paraphrased Vance as saying, "You know I think this is a bad idea, but if you want to do it, I’ll support you."

You can see Vance trying the thread the MAGA needle when it comes to Iran in this Rogan interview. He hints heavily that he's against the war, but he supports Trump publicly. pic.twitter.com/usuFwZPTGC

— Elijah Cone (@ElijahCone) July 15, 2026

Now, nearly five months later, 14 American service members are dead, more than 400 wounded, more than $100 billion has been squandered, the US arsenal significantly depleted, the Strait of Hormuz is largely closed, fuel prices have soared, a global economic catastrophe lurks, and the Iranian people have rallied around their government. Given the war has turned into such a fiasco, it's not clear how much credit Vance will get for having been anything less than a zealous opponent willing to publicly challenge the war from the start.  

Regarding the Epstein files, Vance disputed the notion that the Trump administration sought to hide anything from the American people, instead attributing the controversy to poor public communications about the files. “We absolutely screwed up the comms of the Epstein files,” Vance said. “We just did. But do I think the reason we screwed up the comms is because we were trying to hide something? No.” He faulted then-US Attorney General Pam Bondi for having "overstated what we had and what we didn’t have,” as she was caught up in "the political moment." 

JD Vance gets annoyed as Joe Rogan questions why MAGA influencers were given Epstein file binders pic.twitter.com/cbjjMMFlmy

— grizzy (@Furbeti) July 15, 2026

Though he stopped short of saying Epstein was working for Israel, Vance emphasized Epstein's links to both US and Israeli intelligence agencies. "He clearly had connections to the upper— the highest levels of American intelligence. He clearly had connections to the highest levels of Israeli intelligence," Vance said, later adding, "I’ve asked whether there were documents connecting Jeffrey Epstein directly to our intelligence agencies or anybody else’s, and the answer is no. But if that stuff existed, it wouldn’t exist in 2026." 

Here's the full interview: 

Tyler Durden Thu, 07/16/2026 - 09:45

Cracking Up And Joining Up

By Michael Every of Rabobank

Geopolitics is front and center, even in Argentina–England at the World Cup, where the contested Falklands/Malvinas, which could have oil reserves, saw jingoist 1980’s language. Yet it’s Hormuz, where 1980’s-style tanker wars are underway, that’s the penalty spot.

The US is striking Iran again night and day, as Tehran warns of an “existential war”. Reports have Trump leaning towards expanding US military operations; others say what he’s been hitting widen his options for escalation; and Trump has stated Iran “will be defeated soon.” However, the Financial Times today leads with Trump’s ex-defence chief saying the US will not win the war from the air, a sentiment echoed in the Wall Street Journal – and boots on the ground are highly unlikely.

Iran is attacking the Hormuz oil lifeline of ship-to-ship shuttle runs, with some vessels now reportedly refusing US-military guided transits. The US just hit a tanker heading for Kharg Island under the renewed Iran blockade, as some wonder again if the US could try to take control of Iran’s southern islands – which would certainly take boots on the ground.

The IRGC has threatened all global energy workarounds to Hormuz: that includes the Red Sea, where the Houthis may be preparing to attack; it might also involve Azerbaijan’s oil trade with Israel, meaning either striking Iran’s well-armed northern neighbour or the Eastern Mediterranean route its oil arrives via. Markets would move markedly if these developments were to occur.

Israel-Lebanon talks are getting some results, with agreement for Israel to pull back from two pilot zones to allow the Lebanese army to prove it can keep the territory free from Hezbollah – the IDF notably just killed three of the latter, and Trump is still talking about Syria fighting Hezbollah instead. PM Netanyahu will meet Trump in the US on Monday, as many fault lines are seen between the two. However, the flurry of radical domestic legislation the Israeli government just launched ahead of an October 27 election Knesset dissolution may suggest the foreign policy arena is not where they will look to flex for would-be voters.

Elsewhere, US General Caine is pleading with defense contractors to build weapons faster, as munitions constraints linger: the US Air Force plans to buy 28,000 low-cost cruise missiles ahead, showing procurement pivots are happening. The Secretary of War is also going to give US troops testosterone shots to make them stronger, as many NATO allies struggle to recruit the soldiers, sailors, and pilots that a military build-up will require; and senior defense officials are pushing for more censorship and are said to be looking at Cuba military options.

The EU again failed to strike a new Russia sanctions deal after three days of talks, with Athens reportedly opposing them to shield a Greek shipping company. On the other hand, the EU and Ukraine struck a deal to tap into €10bn of unspent SAFE funds to build drones in Ukraine – with a carve-out to buy some components from China. Ominously, Lithuanian and Latvian leaders also warned that Russia is planning infrastructure attacks on the Baltics or Poland, with other suggestions of potential false flag operations as the trigger for such.

Against that backdrop, and what Ukraine is doing to Russian refineries, a benchmark Bloomberg measure of crack spreads now stands above the panic peak of 2022, so while Brent oil is $85 --bang in line with where Joe DeLaura expected it to hover at while ‘Comfortably Bomb’ plays out-- the price of a barrel of diesel is around $147.  

The EU also just published a report calling China a “key enabler” and a “crucial enabler” of Russia’s war on Ukraine, further noting that: “At the centre of this transformation lies the determination of some powers, Russia and China foremost among them, to establish regional dominance and reshape the global order in line with their interests, fostering a return to a sphere-of-influence logic.”

That language echoes European complaints already made about the US, as a Pew survey shows that Xi now beats Trump in terms of popularity. But given nobody gets to vote on that, how much does such soft power matter? In that regard, the X thread from the US Under Secretary of War poopooing the idea of Middle Powers having options other than siding with the US (or China), which we noted yesterday, drew polarised reactions.

Those who pushed back strongest came from politics or economics, with a few from the military; by contrast, those who said the blunt (so unhelpful) US argument was true think across those disciplines. As a good example, Velina Tchakarova’s ‘The Middle Power Mirage: Colby, the Sceptics, and the Verdict Nobody Wants’ states: “Here is the strategic reality the convening class prefers to avoid. We are in a new Cold War between two systems, Pax Americana 2.0 and the DragonBear, the structural alignment of Chinese and Russian power across every systemically relevant domain. In that contest, middle powers without sufficient strategic leverage or autonomy will not be neutral conveners. They will be the first victims, hollowed out or cannibalized for the sake of global supremacy, or they will become the battlefield itself. There is no comfortable third space for the underprepared.” She also underlines that preparations can be made for that kind of third space, but they are fiscally, political-economically, and even ‘civilisationally’ uncomfortable.

That’s as EU-China trade data this week saw Brussels state that safeguard measures permitting tariffs and quotas against import surges may “become legitimate on a case-by-case basis.”; the UK Treasury suggest alignment of its financial system with the US, not the EU, and a stablecoins framework that opens the door for the USD variant to be used; Bloomberg says ‘Trump's Aides See China Cheating on Trade, But Shun Retaliation’ - there are too many fish to fry in Hormuz, it seems; and India’s PM Modi is pushing to cut import reliance to shield the economy from shocks.

Against this backdrop, national elections are now more existential than during the 2000’s policy consensus for ever more globalisation. Today, each vote can push or pull economies towards one of the two global poles of power, tipping the balance between them and/or legacy vs emerging stakeholders within them.

In that light, Trump is to give an address today focused on “free and fair elections” rumored to be politically explosive, as Democratic Party Senator Fetterman warns he’ll leave the party if it turns its back on Israel, and Supreme Court justices worried about their safety were told by Congress, “There’s not a money fairy up here.” In the UK, the terror inquiry into the murder of former MP Ann Widdecombe continues, as a man was arrested for threatening to shoot Reform UK leader Nigel Farage, who is involved in a scandal over a cash gift ‘for his security’. The Times of Israel opines that ‘Netanyahu hits new lows in his battle for survival; there will be a great deal of damage for better leaders to undo’; and Ukraine’s President Zelenskyy just ousted his reformist defence minister amid a government reshuffle, which critics have called a serious strategic error.

In short, norms are cracking up around us, not just in refined products, but in less ‘refined’ economics and politics.

To predict how this plays out one needs to join things up; and that involves looking at who is willing to join up, and where.

Tyler Durden Thu, 07/16/2026 - 09:30

UBS: TSMC's 'Surprise CapEx Hike' Reinforces Confidence In AI Supply Chain

TSMC, or Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, raised its 2026 spending and revenue outlook on Thursday morning, a move UBS analysts said "boosts confidence in the AI supply chain."

TSMC manufactures chips designed by companies such as Nvidia, Apple, AMD, Qualcomm and Broadcom. It is a major supplier of Nvidia chips used in AI data centers. The company now expects 2026 capital expenditures of $60 billion to $64 billion, up from its previous forecast of $52 billion to $56 billion, while projecting dollar-denominated revenue growth of slightly more than 40%.

Here are second quarter results (courtesy of Bloomberg):

• Net income NT$706.6 billion, estimate NT$623.73 billion
• Gross margin 67.7%, estimate 67.1%
• Operating profit NT$766.6 billion, estimate NT$742.75 billion
• Operating margin 60.3%, estimate 58.6%
• Sales NT$1.27 trillion, estimate NT$1.27 trillion

Third quarter forecast:

• Sees sales $44.6 billion to $45.8 billion, estimate $43.11 billion (Bloomberg Consensus)
• Sees gross margin 65% to 67%, estimate 65.9%
• Sees operating margin 56% to 58%, estimate 57.7%

"AI-related demand continues to be extremely robust," TSMC Chairman C.C. Wei told analysts on a post-earnings call. 

TSMC also plans to invest another $100 billion in Arizona, lifting that total commitment to $265 billion. The expansion will include additional 2-nanometer chip plants and advanced packaging facilities to meet multi-year demand across the Americas. 

Wei added, "This is to build several or more semiconductor logical wafer fab for two nanometer MP [mass production] technologies, as well as advanced packaging fabs to support the strong multi-year demand from our leading U.S. customers."

CFO Wendell Huang said, "Our conviction in the AI megatrend is very strong.The capex in the next three years will be even more, significantly higher than in the past three years."

UBS analyst Crystal Hsu told clients earlier that "TSMC's Surprise Capex Hike Boosts Confidence In AI Supply Chain."

Hsu continued:

Despite TSMC's relatively conservative gross margin outlook for Q2 and Q3, investors generally believe the company prioritizes customer relationships and may smooth margin trends through the second half of the year.

The increase in capex guidance to USD 60–64 bn came as a positive surprise, as TSMC rarely raises capex guidance in Q2 and the magnitude of the revision exceeded 10%. Investors expect a positive read-through for the semiconductor production equipment (SPE) space.

More importantly, TSMC's constructive commentary could help restore market confidence, as many investors see little change in the underlying fundamentals despite the market pullback over the past month, which appears to have been driven largely by positioning and sentiment rather than by a deterioration in fundamentals.

Shares of TSMC were marginally higher in Asia, closing up a little more than 1%. The stock has gained 59% this year as the AI boom propels chipmakers to new highs. But in recent weeks, the AI trade has hit a brick wall as Goldman warns of rising hyperscaler bond issuance and mounting stress in credit markets.

TSMC's accelerating expansion comes a day after ASML Holding delivered strong earnings and raised its full-year guidance. ASML produces lithography machines, the equipment that chipmakers such as TSMC use to manufacture advanced semiconductors.

Tyler Durden Thu, 07/16/2026 - 06:55

My morning train WFH reads:

• What Americans Need to Understand About China: Ezra Klein interviews former Australian PM Kevin Rudd — one of the West’s most fluent China hands — on the gaps in American understanding that keep producing bad policy. (New York Times)

• Jony Ive is cooking in the OpenAI kitchen. “Perhaps a computer that makes you feel that you want to hug it is in order?” The former Apple design chief is now deeply embedded in OpenAI’s hardware ambitions. What happens when the man who designed the iPhone tries to design the AI device that replaces it? (Feed Me) but see Generative AI Is an Engineering Disaster: A shockingly inefficient trillion-dollar project. The Atlantic’s cover piece argues that generative AI isn’t just overhyped — it’s fundamentally unreliable as engineering, and the industry is in denial about it. The systems don’t work the way their makers claim they do. (The Atlantic)

• Two Million Workers Are Locked Out of an Improving Job Market: The share of job seekers out of work for six months or longer is hovering near highest level in five years. Share of job seekers out of work for six months or longer hovering near highest level in five years The headline numbers look better. But two million people — disproportionately older, less educated, or formerly incarcerated — aren’t benefiting from the recovery at all. (Wall Street Journal)

• Mapping the World’s Prices 2026: Which are the world’s cheapest and most expensive cities? Mapping the World’s Prices, now in its tenth edition, is the definitive guide to quality of life, rental costs and prices for phones, coffee, taxis and more in 69 cities from Abu Dhabi to Zurich. (Deutsche Bank Research Institute)

• JPMorgan is closing in on a $1 trillion market cap after posting record profits: The Wall Street giant’s market cap stood at about $935 billion. It would be the first bank to ever join the $1 trillion market cap club. Jamie Dimon’s bank is approaching a market cap that would have been unthinkable a decade ago. Record profits, dominant market position, and a stock price that reflects both. (Quartz)

• Failing is Common, Trying is Rare: Putting in a mediocre effort at a given task is deeply irrational if our goal is success at that task. But often, when we put in a mediocre effort, it’s because we have other covert goals we’re not really acknowledging. The real bottleneck isn’t failure — it’s the unwillingness to attempt anything in the first place. Most people don’t fail; they never start. (Raptitude)

• What Would Jesus Design? A growing number of faith-forward interior designers are decorating homes Christ-first. Turns out it’s as good for business as it is for their souls. Architectural Digest visits the Christian interior-design movement. What would Jesus design? Apparently: lots of neutrals. (Architectural Digest)

• How Ukraine Brought the War to Russia: Long-range drone and missile strikes on Russian soil have shifted the balance of the conflict—will they be enough to end it? (The New Yorker) see also US military smartphones targeted through roaming and ad tech: Cyber attacks tried to track down American personnel in Middle East as Tehran attacked forces in the region. (Financial Times free)

• Researchers are uncovering ADHD’s links to these other health conditions: A growing body of evidence suggests that people with ADHD may be at risk for anxiety, disordered eating, migraines, long covid and other problems. The diagnosis turns out to travel with a surprising amount of company. A useful survey of the emerging comorbidity research. (Washington Post)

• There’s an Injury Epidemic in Pro Sports. There’s Also a Recovery Revolution. Athletes are pushing their bodies to astonishing feats, knowing that medical advances can heal them quickly.Pro sports has an injury epidemic and a recovery revolution running simultaneously. Bodies break faster; the science fixes them faster. (New York Times)

Video of the day: The Billy Joel Interview

Be sure to check out our Masters in Business next week with Jason Wenk, founder and CEO of Altruist, a modern custodian built as a clean sheet from the ground up, fully integrated with artificial intelligence. He began his career at Morgan Stanley before launching Retirement Wealth Advisors, and then FormulaFolios. The through-line of his career has been creating lower-cost, tech-enabled, financial advice.

 

Capital Markets Strategy. The AI Arms Race

Source: MUFG

 

Sign up for our reads-only mailing list here.

 

The post 10 Thursday AM Reads appeared first on The Big Picture.

Ukraine Intensifies Attacks On Russian Tankers In The Black Sea

By Charles Kennedy of OilPrice.com

After striking 116 vessels linked to Russia’s shadow fleet in the Sea of Azov in recent weeks, Ukraine’s military is turning its sights on ships in the Black Sea, hitting in drone attacks as many as 20 vessels overnight on Wednesday.

Ukrainian forces struck 17 Russia-linked oil tankers, 2 gas carriers, and one tugboat early on July 15, drone unit commander Robert Brovdi said on Telegram today, adding that an official report with video evidence would follow later in the day.

“The first round of the naval battle is over,” the commander wrote, referring to the Sea of Azov, where Ukraine had focused its drone attack efforts in the past few weeks, alongside targeting refineries deep into Russian territory.

“Now, the Black Sea,” Brovdi said, hinting that Ukraine’s campaign to strike oil and gas vessels is expanding to the Black Sea, a key export route for crude and fuels from the south of Russia.

Ukraine has ramped up drone attacks against Russian shipping in the Sea of Azov and Taganrog Bay. Ukrainian officials reported striking 15 vessels in a single overnight operation on July 14, bringing their total to over 105 targeted ships within an eight-day window. These strikes have been targeting tankers and cargo ships suspected of belonging to Russia’s "shadow fleet" or transporting looted Ukrainian grain and fuel supplies.

Russia has also attacked commercial vessels near Odesa. A Tuesday attack killed five seafarers and injured 12 others in one of the deadliest single strikes on commercial shipping since the start of the war. According to Odesa authorities, a Russian drone struck a Togo-flagged general cargo ship while it was unloading fertilizer, sparking a major fire, while the Russian defense ministry claims the strikes were targeting military cargo.

The ramp-up of the naval strikes comes alongside a months-long Ukrainian campaign to hit Russian refineries to cripple fuel supply and deepen the fuel crisis in Russia.

Tyler Durden Thu, 07/16/2026 - 06:30

G7 Partners Have Low Confidence In President Trump

Confidence in U.S. leadership has fluctuated significantly over the past two decades, closely tracking changes in the occupant of the White House.

As Statista's Felix Richter shows in the following chart, based on data from past and present editions of Pew’s Global Attitudes Survey shows, confidence in President Donald Trump among key U.S. allies has mostly been low, although it has edged up slightly compared to the end of his first term.

You will find more infographics at Statista

Interestingly, Trump’s current ratings are broadly in line with those recorded for George W. Bush toward the end of his presidency.

Bush’s low standing in many Western European countries at the time was largely shaped by opposition to the Iraq War and broader concerns about U.S. foreign policy.

By contrast, confidence in U.S. leadership rebounded sharply under Barack Obama, who consistently received high approval ratings across G7 countries.

While views of Joe Biden were also relatively positive, they never reached Obama era highs and deteriorated gradually over time.

Overall, the data highlights how strongly international perceptions of the United States tend to shift with changes in leadership and foreign policy direction.

Tyler Durden Thu, 07/16/2026 - 05:45

Japan's Landmark Vote Reclassifies Bitcoin And Crypto As Financial Assets

Authored by Micah Zimmerman via The Epoch Times,

Japan’s parliament passed an amendment on Wednesday that reclassifies cryptocurrency as a “financial asset,” a shift that pulls bitcoin and other digital assets out of the country’s payments regime and into the framework that governs stocks, bonds, and investment trusts, according to a report from public broadcaster NHK.

The change strips crypto of its prior status under the Payment Services Act, where regulators treated it as a means of settlement, and folds it into the Financial Instruments and Exchange Act (FIEA), the same statute that oversees traditional securities. 

The amendment moves bitcoin and other crypto under a single investor-protection standard. NHK reports the change takes effect within a year, with a target of fiscal 2027.

Japan’s new authority over bitcoin and the crypto asset class

Japan’s cabinet first approved this measure as a draft amendment in April 2026, but that step only sent the bill toward the Diet for debate. Wednesday’s vote marks the final enactment into law, alongside formal approval of a separate plan to cut the top tax rate on crypto gains from 55% to a flat 20% starting in 2028.

The move rewires how Japan supervises the asset class. As financial instruments, crypto assets now fall under insider-trading rules that bar issuers, exchange operators, and other parties with access to non-public information from trading ahead of events such as token listings, delistings, or major technical incidents.

Exchanges face new disclosure obligations. Platforms must publish data on each token’s issuer, blockchain design, and volatility profile, a standard that mirrors the reporting demands placed on securities firms. Regulators also gain broader market-surveillance authority over the sector, according to local reports. 

Penalties climb under the new law. The maximum prison term for unregistered crypto operators rises from three years to 10, while the top fine increases from 3 million yen to 10 million yen, near $62,000. The tougher enforcement signals a move to treat crypto misconduct with the same severity as securities fraud.

A path to bitcoin ETFs and a tax cut

The reclassification carries two consequences that reach beyond compliance.

First, it opens a path for spot bitcoin exchange-traded funds. Because FIEA governs the products that funds can hold, moving crypto under its umbrella removes a structural barrier that kept Japanese asset managers from launching regulated bitcoin ETFs.

Second, it clears the way for a tax overhaul. Japan taxes crypto gains as miscellaneous income at rates that reach 55 percent, among the steepest treatment in any major market. Lawmakers approved a plan to cut the top rate to a flat 20 percent, a level that matches the tax on stock gains. The reduction, tied to the 2026 Tax Reform Outline, activates in 2028.

The reforms arrive as Japan accelerates a broader Web3 push and as regulators weigh reserve requirements for exchanges that resemble the buffers held by securities firms. User accounts on Japanese exchanges have grown, and domestic crypto firms are positioning for a wider base of retail investors.

For an industry that has long viewed Japan as an early and cautious mover, the vote marks a decisive turn toward legitimacy. 

The country that once served as a template for crypto regulation is now aligning digital assets with its capital markets, a decision that could pressure other jurisdictions to follow.

Tyler Durden Thu, 07/16/2026 - 05:00

Baltic Leaders Claim Moscow Eyeing Wave Of Infrastructure Attacks In Europe

NATO's 'eastern flank' members are at it again, seeking to hype an imminent Russian threat which they now say will target their critical infrastructure. 

The presidents of Poland, Lithuanian and Latvia have joined together and issued a dire warning over an impending plot on Wednesday, citing intelligence reports.

"We are talking about energy and transport infrastructure, facilities where damage could... disrupt the functioning of the entire energy system," Lithuanian President Gitanas Nauseda said at a joint press conference in Vilnius, alongside his Latvian counterpart, Edgars Rinkevics.

"This planning is taking place at the highest level, effectively in Moscow," Nauseda stated.

And Rinkevics followed by asserting, "Even without a total Ukrainian victory, Russia may indirectly test Article 5 and response mechanisms at the alliance and European Union levels," he said.

via Latvian Presidency's office

Kremlin spokesman Dmitry Peskov quickly disputed the allegations that Russia is planning sabotage operations or some kind of invasion of Europe..

"This is just another fresh batch of scare stories designed to keep the brainwashing going and prepare the population for further militarization," he said.

Baltic governments have especially been warning about a Russian 'invasion' in some form or the other going back years into the Ukraine war.

Even lower security officials have chimed in, for example back in 2025, Renatas Požéla, head of Lithuania’s fire and rescue service, warned: 

"It is possible that we will see a massive army along the Baltic borders with the obvious goal of conquering all three countries within three days to a week."

In that prior instance he was talking about Estonia, Latvia, and Lithuania. Their leaders and officials have been among the most outspoken anti-Russia hawks throughout the Ukraine conflict.

Moscow has long insisted that it has no intention of invading any EU or NATO member state. Tensions have soared, however, due to somewhat frequent drone incursions into European territory. But the Kremlin has said these are chiefly Ukrainian drones spilling over.

Tyler Durden Thu, 07/16/2026 - 04:15

You Will Not Believe What's Happening In This Tiny English Village

Authored by Steve Watson via Modernity News,

Residents of the small leafy Oxfordshire village of Piddington have delivered a thunderous rebuke to Westminster's latest asylum experiment.

With roughly 180 adults casting ballots on July 4, 175 backed holding a referendum on breaking away from the United Kingdom in protest against plans to house up to 1,250 single adult male asylum seekers at an adjacent former Ministry of Defence Site.

That works out to a 96% yes vote in a community of around 370 people where decisions about their future are being made without them.

This really is an unbelievable story and just about sums up the UK right now.
A small leafy village in Piddington has voted for independence from the United Kingdom because the Government is planning on dumping 1000 illegal aliens into a village of only 180 people. pic.twitter.com/0kTZpYpNpX

— UkNIrelandMBGA (@UkandNIbackup) July 13, 2026

The move comes after the Home Office announced in late June it would convert the redundant military storage facility - sitting right between Piddington and Upper Arncott - into basic accommodation for single men aged 18 to 65.

Utility companies have already received instructions to prepare power, water and sewage connections, with work eyed for late August or early September. No detailed public proposal or full impact assessment has been published. Locals say the site was never built for this purpose and sits next to a children's play area and reserve.

Piddington resident Ian Darby captured the frustration felt by many when he spoke out against the total lack of engagement from officials.

'No one has come to talk to the village about it.'

Piddington resident Ian Darby says his village has voted in a referendum to become independent from the UK in protest against plans for a nearby migrant military camp.

? Freeview 236, Sky 512, Virgin 604 pic.twitter.com/B38H4SOAAQ

— GB News (@GBNEWS) July 13, 2026

Parish Council Chairman Tim McNally framed the vote as a natural response to being driven into a corner.

"We had an incredible result with almost two-thirds of the village voting, the rest were children, and an acceptance of 96%. It was truly astonishing. Self-determination is what people want whilst they are being ignored and driven into a corner. This is a natural human instinct and reaction. The Principality of Piddington, the village that roared, will put together their council and representatives to empower themselves."

'I want us to be heard and considered.'

Chairman of Piddington Parish Council, Tim McNally, says that his town of 370 people held an independence referendum, with 96 per cent voting to leave the United Kingdom in protest against migrant army camps. pic.twitter.com/NAVCvRlTdW

— GB News (@GBNEWS) July 13, 2026

Latest News: Bicester Mod Site A for Asylum Seekers has caused a major political upheaval and dismay.

Utility companies have been instructed to proceed and plan to deploy within 8 weeks

The residents of Piddington that sit immediately next door to the proposed asylum site A,... pic.twitter.com/JpY37qFkAT

— Tim McNally (@PiddingtonRoars) July 12, 2026

Local resident Graham Rixon called the scale "completely inappropriate." "We're a village of 350 people - there's another village down the road of even less people, and they're going to dump 1,200 people here."

"Most of them probably won't speak the language, so there's going to be communication problems, and as far as I know, no help's been set up for language," he continued, adding "We haven't had any detail of how it's going to work, so if it does go through, it'll be a mess - inadequate provision has been made. We're supposed to live in a democracy, and this is just trying to bypass democracy and get it all done before anyone notices."

Another resident from nearby Arncott, Gwen McEwan, described the prospect as "frightening." She asked why her village should be penalised while British people wait for housing and noted that local children already pay £300 a term for the bus to school. "If they come here, I won't be paying any council tax."

Chairman McNally highlighted the human side: "We have young children, we've got elderly people. People actually have the comfort to walk at night through the village without consequence."

Concerns centre on groups of bored single men potentially roaming near homes and the play area, language barriers, and pressure on already limited rural services in a place over two miles from the nearest shop with no pavement along the B-road.

Liberal Democrat MP Calum Miller for Bicester and Woodstock has called the isolated site unsuitable and demanded ministers pause the plan, publish a full impact assessment, and come to the area to explain themselves directly. He said the decision feels like one taken in secret in Whitehall and imposed on local people treated as an afterthought.

The Home Office maintains the move forms part of closing asylum hotels and shifting claimants into basic ex-military accommodation to end the perception that illegal arrival leads to hotel stays.

It points to falling hotel numbers and reduced overall asylum costs. Critics note the approach simply relocates the same pressures into small communities that never asked for them and lack the infrastructure or policing to absorb sudden demographic change.

This is not an isolated outburst. Across Britain, similar top-down placements of large numbers of single adult male asylum seekers into former military sites or new housing have triggered the same pattern of ignored residents, safety worries for women and children, and strained local resources.

In one case a village of just 150 people faced 121 migrants placed in 21 new-build houses originally meant for social housing, sited next to a children's playground and primary school. Locals reported teenage girls taking longer routes to avoid the area.

Another former RAF base targeted for up to 1,500 people sat on contaminated ground with no power, water or phone lines initially, requiring massive taxpayer upgrades while the base exit opened onto a resident's driveway.

The pattern continues in Barnham, Suffolk - a peaceful village of just 600 people now facing plans to house over 1,000 asylum seekers at the nearby disused RAF site. That influx would nearly triple the local population. The base sits only two minutes from a primary school and beside a nature reserve.

Residents report teaching their children basic safety measures such as locking doors and staying quiet. Fencing around the site already has holes that allow easy exit. Public meetings on the plans have been restricted, and critics describe the broader approach as "Operation Scatter" - deliberately dispersing claimants into rural areas with limited facilities and minimal local input.

Watch how the policy has already played out in other small places:

In Crowborough, East Sussex, residents formed a volunteer security patrol after hundreds of single male asylum seekers were moved into a former training camp, creating what locals described as a village within a village.

Women reported carrying personal alarms and taking self-defence classes even in daylight. One volunteer stated the group provided "a visible presence to provide safety and security. We are a deterrent."

The same town had earlier braced for up to 600 men at the army camp site, with orderly protests drawing thousands and residents installing extra fencing and alarms on peripheral properties. Trust in government evaporated as plans advanced with minimal consultation.

The housing angle runs deeper still. Projections show migrants set to absorb nearly 40% of all new homes built in the UK by 2030 under current net migration trends, even as 1.3 million British households sit on social housing waiting lists.

The policy of clearing hotels by dispersing claimants into rural and suburban sites simply shifts the burden onto native communities already competing for homes, schools and GP appointments.

Piddington's symbolic independence vote stands as the latest expression of a growing refusal by ordinary Britons to accept being treated as collateral damage in a national experiment they never consented to.

The village that roared on July 4 has drawn its line. Whether Westminster hears it or continues treating rural England as disposable real estate for imported populations remains to be seen. Self-determination, once stirred at the smallest scale, has a habit of spreading.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden Thu, 07/16/2026 - 03:30

Russia Struggles To Deliver Crude Oil As It Hits 135 Million Barrel Traffic Jam

Russia is struggling to deliver all of the crude it’s being forced to ship overseas in the face of escalating Ukrainian drone strikes on its refineries.

Nearly 135 million barrels of Russian crude oil are currently stranded at sea as a result of Ukraine’s airstrike campaign targeting refineries with the intent to cripple crude processing. The offshore backlog is forcing Moscow to significantly ramp up export volumes according to OilPrice.com.

Intensive Ukrainian drone strikes, including recent hits on the Gazprom Neftekhim Salavat and Afipsky processing facilities, have knocked out roughly one-third of Russian domestic refining capacity bringing it to ~3.91 million barrels per day, the lowest level seen since 2005.

As a result, Moscow is now being forced to divert more barrels to international markets despite the country pumping just 8.93 million barrels a day in June--roughly 830,000 b/d below its OPEC+ quota.

However, major export hubs are experiencing massive gridlock with limited buyers of sanctioned Russian crude, with Sokol and Sakhalin Blend cargoes facing week-long delays transferring from shuttle tankers to ocean-going vessels, while ESPO crude is piling up near the Kozmino terminal.

Russia’s shadow fleet tankers are now accumulating near Egypt’s Mediterranean coast and Indonesia’s Riau Islands. Many are masking destinations or sitting idle because international buyers increasingly refuse to touch sanctioned cargo due to secondary penalties.

Russia's oil revenues are shrinking despite high export volumes due to a combination of lower global crude prices, widening discounts for Russian Urals and delivery delays.

Russia’s seaborne crude exports averaged 4.13 million barrels per day during the four weeks through June 28, the highest four-week rate since early 2022.

However, Russia’s four-week crude export revenues fell by about $200 million to $1.68 billion a week as Urals prices retreated sharply from their Iran-war highs. China and India accounted for roughly 1.8 million barrels per day of identified purchases, while Turkey and Syria imported about 160,000 bpd and 40,000 bpd, respectively, according to Bloomberg data. Another 1.9 million bpd was listed as “unknown destination” in Bloomberg’s tanker-tracking data, suggesting the final buyers were not disclosed while the cargoes remained in transit.

Tyler Durden Thu, 07/16/2026 - 02:45

"Free Speech Has Its Limits", Rules Czech Supreme Court

Via Remix News,

The Czech Supreme Court has upheld a suspended prison sentence imposed on a former dissident who publicly wore clothing displaying symbols associated with Russia’s invasion of Ukraine.

According to Echo24, botanist Pavel Křivka walked through Pardubice in April 2024 wearing a black sweatshirt bearing a large white letter ‘Z’ and the Russian words “For Victory.”

Lower courts convicted him of publicly approving a crime against peace and sentenced him to six months in prison, suspended for two years. An appeal to the Supreme Court has now been rejected.

“Freedom of expression is one of the fundamental rights of a democratic society, but it has its limits,” court spokeswoman Gabriela Tomíčková said.

“According to the Supreme Court, public support or approval of the most serious international crimes exceeds the limits of expression which is entitled to full constitutional protection,” she added.

The court said a person does not need to make a speech or explicitly attempt to persuade others to commit an offense. Publicly displaying symbols can itself constitute a crime when their meaning is sufficiently clear.

Judges also rejected Křivka’s argument that the Z symbol does not appear on an official list of prohibited imagery. They ruled that its meaning must be assessed in context and said the combination of the letter Z and the “For Victory” slogan could not reasonably be interpreted as anything other than support for Russian aggression.

The court said Křivka’s education and experience in public and political life meant he would have understood the symbolism. He had also repeatedly expressed opinions on Russia and Ukraine.

Prosecutors described the hoodie as “warmonger clothing” and argued that Křivka intended to stir hostility toward Ukraine and Ukrainians. His lawyer maintained that wearing clothing he liked was not illegal.

The letter Z first appeared on Russian military vehicles during the February 2022 invasion before becoming a wider propaganda symbol used at rallies, on billboards, on clothing and across Russian social media.

Křivka had previously criticized the rulings of the lower Czech courts. “I did not commit any propaganda for war or genocide or anything like that. I walked down the street in standard clothes, clothes that I bought in China when I was there to teach Czech. We have much more freedom in China than in the Czech Republic,” he said in February, as cited by Novinky.cz.

Read more here...

Tyler Durden Thu, 07/16/2026 - 02:00

All Socialists Are Ignorant, But Some Are More Ignorant Than Others...

Authored by Lloyd Billingsley via AmericanThinker.com,

In The Law, published in 1850, Frédéric Bastiat made a case against “legal plunder,” the perversion of the law to violate liberty and property rights.

Nearly 100 years later in The Road to Serfdom, Friedrich Hayek warned that socialists, whatever their intentions, lacked the knowledge to command the economy.

Hayek also explained how the worst always get on top in socialist regimes, and after the German National Socialists’ Anschluss in 1938, he did not return to his native Austria. In 1983, President Reagan brought Hayek to the White House, and in 1991 President George H.W. Bush awarded Hayek the Presidential Medal of Freedom.

Nobel laureate Milton Friedman authored Capitalism and Freedom and became a national figure with the “Free to Choose” series on PBS. 

Basic Economics by Thomas Sowell also upheld the virtues of the market over government command of the economy.

Those now proudly calling themselves “democratic socialists” seem unaware of these authors and show little if any inclination to engage in debate.

The surging socialists are even more unaware of works that show socialism as it actually existed under its most enthusiastic promoters. Consider, for example, the experience of Malcolm Muggeridge. His magisterial Chronicles of Wasted Time (1972) devotes a chapter to “A Socialist Upbringing.” The Muggeridge household jostled with politicians, scholars, and clergy dedicated to the cause, along with Labor Party stalwarts such as Ramsey MacDonald and Fabian socialists Sidney and Beatrice Webb. Their collective efforts aimed to benefit “the workers,” who were never present at any of their events.

“A worker is someone for whom everything is done as long as he keeps off stage,” Muggeridge noted, and “the whole notion of a working class with a specific political or cultural, or even spiritual role qua working class is a fantasy invented by guilt-stricken renegade proletarians like D.H. Lawrence, or by renegade bourgeoisie on the run like William Morris or, for that matter, Marx and Engels themselves, or just by a sociologist looking for a subject and a job.”

After stints teaching in India and Egypt, Muggeridge wound up in the first “workers’ state,” the Union of Soviet Socialist Republics (USSR), as the Moscow correspondent of the Manchester Guardian. Correspondents ran contests to see who could pass off the most fatuous story to the regime’s foreign admirers. Muggeridge convinced Lord Marley that the long lines for everything were intended to give zealous workers a chance to rest. When a British lawyer asked if the Soviets practiced habeas corpus, A.T. Cholerton of the Daily Telegraph told him they strictly adhered to habeas cadaver.

Stalin’s collectivization of agriculture claimed more than a million victims in Ukraine, but Walter Duranty of the New York Times contended that there was no forced famine there. Muggeridge decided to see for himself. “This particular famine was planned and deliberate, not due to any natural catastrophe like failure of rain, or cyclone, or flooding,” he wrote. “There is not only a famine but a state of war, a military occupation... Peasants with their hands tied behind their back being loaded into cattle-trucks at gunpoint.” After breaking this story, Muggeridge was widely vilified while Duranty’s mendacious reports won a Pulitzer Prize.

In August, 1939, Stalin signed a pact with Hitler’s Germany. “I had been expecting such a development,” Muggeridge wrote, “never losing an opportunity to say that Bolshevism and National Socialism were the same thing, except that one was a Slav version and the other Teutonic.” Margarete Buber-Neumann described that reality in Under Two Dictators: Prisoner of Stalin and Hitler.

The Potsdam native married Heinz Neumann, a rising star in the German Communist Party (KDP). The Communist International (Comintern) sent the couple on various assignments before bringing them to Moscow during Stalin’s purge campaign. Heinz Neumann was tried and executed the same day with no word to Margarete. She soon found herself in the Lubianka prison before being sentenced to five years in the corrective labor camps then holding 1.3 million prisoners.

In the vast Karaganda complex, Buber-Neumann was forced to perform “a certain labor quota” in the fields. “We were always hungry,” the prisoner wrote, and field workers were in the “fourth and worst category” when it came to food. In these conditions, Zena, a Gypsy girl, is told she should go to school and learn about socialism.“I don’t like it!” Zena shoots back “You can go and **** your mother with your socialism! I’m a free Gypsy.”

Preyed on by criminals, who were very cozy with camp bosses, Margarete manages to survive. During the Stalin-Hitler Pact, the secret police (GPU) changed her sentence to removal from the Soviet Union.

In early 1940 the Soviets put the prisoner of Stalin on a train headed for the Brest-Litovsk bridge into occupied Poland. There GPU men and SS officers jointly check the list of names. The prisoners were then “sent on in cattle trucks to Bialas" and “marched through the streets under SS guard.” Then it was on to Ravensbrück, the National Socialists’ largest concentration camp for women. In Under Two Dictators, Buber-Neumann describes the forced labor, torture, and executions in exacting detail.

“Historians have long regarded it as a standard work on Nazi camps and the Gulag,” notes professor Nikolaus Wachsman in his introduction. “But among a general readership in the English-speaking world, the book is virtually unknown.”

The fearful symmetry of German National Socialism and Soviet Communism doubtless caused journalists, academics and politicians deliberately to ignore the book.

Add these works to those of George Orwell, whose 1984 portrayed the totalitarian world of Ingsoc (English Socialism). In Orwell’s Animal Farm, the revolutionary victors proclaim that all animals are equal -- but some more equal than others. In 2026 safe to say, all socialists are ignorant, but some more ignorant than others -- and willfully so.

Arthur Koestler took note of Buber-Neumann’s experience in his contribution to The God That Failed, published in 1949. In Arrow in the Blue (1952) Koestler explained, “The well-meaning ‘progressives of the Left’ persist in following their old, outworn concepts. As if under the spell of a destructive compulsion, they must repeat every single error of the past. One can only watch in horror and despair, for this time there will be no pardon.”

Those who value their liberty must decide how that applies moving forward.

Tyler Durden Wed, 07/15/2026 - 23:25

"Sub-Second Detect- To-Fire": Futuristic Dome Turret Could Be US Military's Answer To Drone Swarms

Picket Defense Systems is developing a next-generation counter-drone turret designed to eliminate the delays conventional systems face when targeting fast-moving, one-way attack drones or incoming swarms. This is a major vulnerability confronting the US military and allied forces as drone threats proliferate across modern battlefields that Picket plans to solve.

Its Inferno RTC uses a 54-barrel hemispherical array that continuously maintains 360-degree coverage, allowing the turret to select and fire the optimal barrel without needing to rotate and lock onto the target first.

"Fixed multi-barrel hemispherical array — no slewing delay. Sub-second detect- to-fire. No dead zones, no blind spots, no reaction time," Picket wrote in a slide deck.

Defense Blog recently explained why Picket's 54-barrel hemispherical array could represent the next evolution in turret design for defeating fast-moving drone swarms:

The aiming latency problem the Inferno is designed to solve is one of the most technically challenging aspects of close-in drone defense, and it has become increasingly urgent as adversaries have adopted tactics specifically designed to exploit it.

Conventional counter-drone gun systems, whether mounted on vehicles or fixed at a site, must physically slew a barrel to point at an incoming threat before firing, a process that takes measurable time even on fast-actuating electromechanical systems. Against a single drone approaching at moderate speed, that delay is manageable.

Against a coordinated swarm of fast-moving targets approaching from multiple directions simultaneously, it creates engagement sequencing problems that single-barrel systems have no mechanical solution for.

The Inferno's continuously rotating architecture eliminates that sequencing problem by having a barrel already in approximately the right position for any threat vector at any moment.

Picket appears to be targeting the civilian counter-drone market with a dual-use turret designed for critical infrastructure, data centers, energy facilities, airports, stadiums, and commercial ports.

Our late-January note, titled "Explosion in AI Data Center Buildouts Will Demand Next-Gen Counter-Drone Security," revealed a shocking reality that many high-value assets around the world remain largely vulnerable to low-cost kamikaze drones.

About a month later, we published a report that showed the first-ever data center in the world was hit by an Iranian attack drone in the Gulf region. This was a major wake-up call for the US, hyperscalers, militaries, and other governments that are now racing to harden airspace against these small but deadly threats.

Related:

• US Military Races To Harden Strategic Nuclear Bases With Counter-Drone AI Shield

What we suspect is coming down the pipe is a procurement supercycle for drone and counter-drone systems, which we believe is already in the early chapters and will accelerate in 2027. How to profit.

Tyler Durden Wed, 07/15/2026 - 23:00

Hegseth Announces New Mandatory Military Testosterone Tests

Authored by Jack Phillips via The Epoch Times,

Department of War Secretary Pete Hegseth on Wednesday announced a measure to screen U.S. armed forces members’ testosterone levels and offer therapy as a way to optimize the military’s performance.

“While we invest heavily in our weapon systems, platforms, and gear, our most decisive tactical advantage will always be the individual warfighter,” Hegseth said in a video, titled, “The High-T Department of War,” released on X.

“We have a sacred duty to maintain that advantage, which is why we must constantly look for new ways to optimize your performance, your resilience, and your long-term health.”

The hormone tests will be initiated for troops aged 30 and older, although soldiers under that age threshold can voluntarily get tested, the Pentagon chief said.

Hegseth explained that the new screening program will make sure that troops “have the right testosterone levels to operate at [their] absolute best because it’s well-established science that as we age, testosterone levels often naturally drop.”

“This initiative, it’s not about artificial enhancement. It’s about restoring and optimizing your natural capabilities, protecting your longevity, and ensuring you have the biological foundation required to sustain the fight,” he continued. 

“We owe our warriors the absolute best medical care in the world. And this program delivers on that obligation.”

The screenings, he added, will be mandatory for service members who are eligible, but that treatment would be voluntary. “If treatment is recommended, it’s entirely your choice to receive testosterone replacement therapy,” Hegseth said.

The Department of War has not yet issued more details on when the screening requirement would be implemented or when more medical guidance will be released.

Hegseth, a former member of the National Guard and Fox News host, has initiated stricter fitness standards for the U.S. military, also working out with service members in videos posted on social media. In addition, he imposed a ban on most service members from having beards.

“By addressing these health markers early, we’re keeping you on the leading edge of lethality and giving you the same level of support that you give this nation—the absolute best,” Hegseth said Wednesday.

Testosterone levels in men decline naturally with age and have been linked to issues such as mood changes, weight gain, and a loss of muscle mass or hair. But health experts have debated for years how to diagnose the problems and whether they should be treated with replacement therapy.

Hegseth’s announcement comes as Health Secretary Robert F. Kennedy Jr. and other Trump administration officials are moving to make it easier for doctors to prescribe testosterone. Last month, the Food and Drug Administration (FDA) proposed easing prescribing limits on testosterone gels, pills, patches, and injections.

Some studies have shown overall declines in young and adolescent males’ testosterone levels since the 1990s. An Israeli global study released earlier this month found that male testosterone levels have halved in the past 50 years, a researcher involved in the study told The Guardian in an article published July 7.

Another study published in 2020 by The Journal of Urology found that testosterone deficiency has a prevalence of 10 percent to 40 percent among adult males, and 20 percent among males aged 15 to 39 years old.

A Yale researcher involved in the study, Soum Lokeshwar, said that the overall decline in testosterone could be attributed to several factors including “an aging population with older males exhibiting lower testosterone levels” as well as an “increase in comorbidities, including diabetes, which may have cause this testosterone decrease nationally.”

Previously, the FDA had issued caution about using certain testosterone products, saying in early 2025 it was “adding a warning about the risk of increased blood pressure to the prescribing information of testosterone products that currently do not include this information based on the results of separate blood pressure monitoring studies.” However, the agency said it removed a previous warning about a possible risk of heart attack or stroke when comparing such treatments with a placebo.

Tyler Durden Wed, 07/15/2026 - 22:35

Australia Slaps Power, Water, And Copyright Rules On Data Centers After Anthropic Lobbying Push

Over the last year or so, several US states have taken measures to regulate or prevent data centers from being built, citing local concerns over electricity and water use, pollution (noise and otherwise), and the fact that they're a godawful eyesore. On Tuesday, New York became the first state to enact a one-year ban on data centers. Pennsylvania, meanwhile, is slapping heavy new regulations on them. 

DCI Data Centers facility in Adelaide (ADL02)

The revolt has gone worldwide - as Australia will impose mandatory national rules on large-scale artificial-intelligence data centers, requiring operators to minimize water consumption, fully fund their power needs and underwrite new electricity generation, Prime Minister Anthony Albanese announced Wednesday.

The measures, part of a broader push to define AI's "social licence," come after extensive engagement with AI companies - including Anthropic - and reflect the government's determination to balance investment attraction with protections for energy resources, the environment, creators, and national interests.

In a major speech at the University of Sydney, Albanese warned of a narrow window to set conditions before major foreign investments lock in - suggesting that the new rules are in response to intense industry lobbying and consultations, while rejecting softer approaches on copyright favored by some tech players.

He also gave assurances to Australian musicians, writers, artists and journalists, declaring that they must retain ownership and control of their work - including the right to name their price in any AI licensing deals.

"Anything less is theft," he said. "No company should use Australian books, music, art or news to build or train AI without the artist's control."

The remarks push back against proposals from AI developers, including Anthropic, which had advocated for alternatives such as a shared creative fund. Albanese made clear the government would not dilute existing copyright principles. He told reporters he was unconcerned that the firm stance would deter investment, noting direct meetings with companies including Anthropic where the position was conveyed plainly.

"We're confident the advantages that Australia provides will see significant investment here," he said.

Anthropic's general counsel, Jeff Bleich, responded positively, saying the company respects the process and takes seriously its responsibility to meet the Australian government's terms for AI developers. He noted that societal-level solutions are needed given AI's benefits and challenges for economies and national security.

Data-Center Rules Target Resource Strain

The mandatory standards, to be agreed at a National Cabinet meeting next month and legislated early next year, will replace fragmented state-level approaches. They will specify permissible locations for data centers and impose obligations on power and water use.

Operators must pay the full cost of grid connections, underwrite new generation capacity, and contribute at least as much energy to the grid as they consume - including renewables backed by firming power - so households do not bear the burden. Water use must be minimized, with companies covering additional infrastructure costs where needed.

Albanese framed the rules as essential for sovereign capability. "Our great country can be much more than a data warehouse for AI products made overseas," he said.

The approach aims to provide investor certainty while preserving community confidence. South Australia already maintains a dedicated framework, while Queensland has expressed caution on national renewable-energy proposals.

Coordinated Oversight and Worker Input

A new Office of AI will be established within the Department of the Prime Minister and Cabinet to coordinate efforts across portfolios ranging from education and employment to energy, copyright and defence.

On the labor front, Albanese encouraged workers to engage actively in shaping AI deployment in their workplaces rather than being sidelined. Businesses could reap "massive productivity benefits," he said, but employees have a stake in ensuring those gains translate into better conditions. ACTU Secretary Sally McManus welcomed the coordinated national approach and stressed employers' duty to consult and mitigate harms.

The only question is - will New Zealand step up and protect Flight of the Conchords from AI replicants and copyright malarkey? 

Tyler Durden Wed, 07/15/2026 - 22:10

Key Takeaways From DNI Nominee Jay Clayton's Confirmation Hearing

Authored by Timothy Frudd via The Epoch Times,

U.S. Attorney Jay Clayton shared his vision for the Intelligence Community during his confirmation hearing for the position of director of national intelligence (DNI) on July 15.

Clayton, who was nominated last month by President Donald Trump, faced questions from lawmakers regarding the independence of the DNI and key national security issues facing the United States.

The hearing before the Senate Intelligence Committee was held on July 15 after President Donald Trump canceled Clayton’s initial June 17 hearing.

Trump canceled the initial DNI confirmation hearing after accusing Democrats of breaking an agreement to remove acting DNI Bill Pulte, who was appointed last month, in return for the approval of a Foreign Intelligence Surveillance Act (FISA) extension.

Pulte was appointed by the president after former DNI Tulsi Gabbard announced her resignation from the office to support her husband, Abraham Wilson, who was diagnosed with a rare form of cancer.

​Here are some key takeaways from the hearing.

Mission Objectives

As part of his testimony before the Senate Intelligence Committee, Clayton emphasized that he would work to increase the American public’s trust in the DNI office, the Intelligence Community, and the federal government.

He said the DNI office’s mission is to ensure that the president, Congress, policymakers, and military leaders are provided the “best possible intelligence in a timely, objective, and independent manner.”

“If confirmed, I will work to strengthen the coordination and communication between the Intelligence Community and the people we serve,” he said.

Clayton told the Senate Intelligence Committee that he would approach the role Trump nominated him for with a “mission-focused” and “team-oriented” perspective.

He said he would work with the committee members to develop the Intelligence Community’s commitment to its mission, strategic objectives that advance its mission, and metrics that help assess and improve its operations.

Journalists Subpoenaed

During the July 15 hearing, Sen. Ron Wyden (D-Ore.) questioned Clayton regarding the Southern District of New York’s recent decision to subpoena journalists at The New York Times.

The journalists were subpoenaed by the Southern District of New York, which he currently leads as U.S. attorney, after reporting on concerns regarding the safety of the president’s new Air Force One aircraft.

While Wyden suggested that the subpoenas represented a “flagrant attack on journalists,” Clayton testified that he is “absolutely committed to” and respects both the First Amendment and the role of the press.

He said he could not discuss the specifics of the investigation at the public hearing as it remains ongoing.

Sen. Kirsten Gillibrand (D-N.Y.) said the subpoenas appeared to have been issued in a “quite aggressive way” since they were issued to the journalists at their homes instead of their place of business.

Sen. Michael Bennet (D-Colo.) questioned how quickly the subpoenas were issued and whether Clayton or anyone from his office consulted with the White House or the Department of Justice beforehand.

Clayton repeatedly said the Southern District of New York’s office followed its protocols, which include consulting the Department of Justice, and said the time frames for issuing subpoenas depend on facts and circumstances.

“I’m confident that the procedures that we have in place to protect the First Amendment and protect the freedom of the press and not result in intimidation of journalists or the like were followed,” he said.

Election Integrity

Clayton was pressed multiple times by the committee’s Democratic senators throughout the hearing to give his views on the 2020 presidential election and the security of U.S. elections.

In response to Sen. Mark Warner (D-Va.), the top Democrat on the Senate Intelligence Committee, asking whether former President Joe Biden won the 2020 election, Clayton confirmed he was not an “election denier.”

“Joe Biden was certified as the president of the United States,” he said. “Let me just be clear. We have substantial work to do ... in improving our electoral processes.”

Clayton emphasized that one of the responsibilities of the DNI role was dealing with foreign interference in U.S. elections, something he said he was “gravely concerned about.”

Asked about his prior criticisms of U.S. election integrity, Clayton said the United States can take steps to improve ballot access while strengthening election integrity.

“I’m a big believer that we can have better access than we’ve ever had before and better integrity than we’ve ever had before,” he said.

Top Threats

After being questioned about the 2020 election, Sen. Mark Kelly (D-Ariz.) asked Clayton to share his view of the top threats currently facing the United States.

Clayton suggested that the top threats include terrorism, drug trafficking, cartels, and traditional U.S. adversaries.

Trump’s DNI nominee said the United States currently faces terrorism threats from many sources.

Clayton also warned that drug trafficking and fentanyl deaths presented an “incredible threat.”

However, he said the United States has “done a good job” of reducing the danger.

While Clayton did not list specific countries, he said the combination of cartels, militaries, and businesses in certain countries was very dangerous.

He also said Russia, China, and Iran remained threats to the United States.

Clayton said his experience as the head of the Securities and Exchange Commission would allow him to be “extremely helpful” in understanding and using economic strategies against traditional U.S. adversaries.

He told the committee that some of the “most formidable threat actors” are the countries that are the most well-funded.

Clayton suggested that U.S. adversaries not only look for “traditional ways” to harm Americans but also for economic ways to harm Americans.

He said the Intelligence Community should provide an understanding of the economic consequences of various actions.

Artificial Intelligence

Clayton said the expansion of artificial intelligence (AI) has led to an increased need for oversight and controls to protect the American public.

Sen. Mike Rounds (R-S.D.) described AI as a “game changer” and warned that Americans could view the technology as a threat, especially if the government used it to collect personal data.

He asked Clayton how the Intelligence Community would use AI to gather information while also protecting the privacy of U.S. citizens under his leadership.

If confirmed, Clayton said that the Intelligence Community would continue to collect necessary data to provide “a good intelligence product” while respecting Americans’ Fourth Amendment privacy rights.

“AI is going to greatly amplify that collection ability, which amplifies the need for oversight and controls to protect our citizens,” he said. “I think we should just recognize that that’s the case.”

Sen. Tom Cotton (R-Ark.), the committee’s chairman, told lawmakers he planned to hold a committee business meeting early next week to vote on Clayton’s nomination before sending it to the Senate floor for a final vote.

Tyler Durden Wed, 07/15/2026 - 21:45

"Asymmetric Warfare Boom" Accelerates As US Army Awards Neros $500 Million For FPV Attack Drones

Defense startup Neros has secured a US Army contract valued at up to $500 million to supply the military with Ukraine-style, low-cost attack drones, reinforcing our view that the "Asymmetric Warfare Boom" is now underway.

As we have told readers, the Department of War's massive push to procure inexpensive, attritable autonomous systems, ranging from loitering munitions and ground robots to drone boats, will create a procurement supercycle and investable opportunities across both public markets and privately held defense companies.

The Wall Street Journal first reported the Neros contract, offering more color on the deal:

Now Neros has secured a contract with the Defense Department valued at up to $500 million to supply its drones to the Army, the company said. The contract underscores the Army's push to become a more modern and leaner force by increasing its drone purchases from around 50,000 a year to at least 1 million within around the next two years, Army officials have said.

Neros's contract comes by way of an Army program designed to provide infantry with first-person-view drones. FPV drones, as they are known, are equipped with cameras that transmit real-time video to a headset worn by the pilot, and with explosives that detonate when they crash into targets. Ukraine builds and uses them in enormous quantity, and with great effect, demonstrating to the world how FPVs can function as low-cost suicide bombers.

. . .

Neros may have cracked the code on both fronts. The company said it is building 1,200 drones a week at its facility in Southern California, and has a plan to reach one million drones a year by 2028. It has to be at least that many, Hichwa said, for China to pay attention.

Latest in drone M&A space:

• "Arms Race Has Started": War Unicorns Enter M&A Phase As Ondas Snaps Up Kamikaze Drone Maker DZYNE

Public companies flagged by analysts at Piper Sandler as benefiting from the US military's drone procurement cycle include AeroVironment, Ondas, Red Cat, AEVEX, Redwire, Insitu, and Teledyne FLIR, while private names include Anduril, Skydio, Shield AI, Quantum Systems, Performance Drone Works, DZYNE, Firestorm Labs, and Neros.

Read the report here. 

Tyler Durden Wed, 07/15/2026 - 21:20

Trump Endorses MyPillow's Mike Lindell For Minnesota Governor

Authored by Jack Phillips via The Epoch Times,

President Donald Trump on Wednesday announced he is endorsing MyPillow CEO Mike Lindell as the Republican candidate for Minnesota governor, saying he is one of “America’s greatest and most hard working Patriots.”

“Mike will be SPECTACULAR!!! He truly loves Minnesota, as do I, and wants to bring it back from oblivion and embarrassment. He can do it!” Trump wrote via his Truth Social platform, calling Lindell “the ‘Pillow Man.’”

The president added that “nobody has sacrificed more than Mike Lindell in fighting for our country, especially when it comes to Election Integrity.”

Trump was referring to backlash against the MyPillow brand in response to Lindell’s statements following the 2020 presidential election that significant fraud was involved in the contest.

In response, Lindell wrote on X that he is “honored” to have received Trump’s backing.

Lindell is part of a Republican field competing in an Aug. 11 primary for the state’s seat in a bid to replace outgoing Gov. Tim Walz, a Democrat who announced earlier this year that he would not seek reelection. The announcement came after scrutiny of his state’s handling of a widespread fraud scandal that also drew federal attention.

The GOP list includes Minnesota Republican House Speaker Lisa Demuth. On the Democratic side, longtime Sen. Amy Klobuchar (D-Minn.) headlines the field.

In a separate post on Wednesday, Trump criticized Klobuchar as “corrupt” and “incompetent” before he accused Minnesota’s elections of being rigged against Republicans since President Richard Nixon won the state in the 1972 presidential election. He reiterated his support for Lindell in his post.

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Responding to Trump’s announcement on Wednesday, Klobuchar wrote in a post on X: “Mike Lindell is Donald Trump’s choice. I hope to be Minnesota’s.”

While the Trump administration and Republicans have focused on childcare and other welfare fraud accusations in Minnesota, Democrats, including Klobuchar, have focused on the Trump administration’s immigration crackdown that involved federal officers killing two Minnesotans earlier this year, which drew protests in Minneapolis. Klobuchar has mostly avoided direct mention of the childcare programs and fraud inquiries.

Walz, a former Democratic vice presidential candidate, has disputed the Trump administration’s characterizations and said that his administration has moved to tackle fraud in Minnesota, including a statement in December that they “have made systematic changes” to the state’s government.

The Department of Justice has charged dozens of defendants in Minnesota fraud-related cases, and a large majority of them are of Somali origin, with dozens of convictions. The FBI also launched numerous investigations into allegations of fraud at state healthcare and home care providers accused of criminal activity.

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In June, Lindell told a local radio station that, to win the state’s governor’s race, Republicans “need name recognition, which I have.” Previewing a possible battle between him and Klobuchar ahead of the midterm election, he added, “You don’t have the marketing I have and the money I have to raise to market this against Amy [Klobuchar] come fall.”

Klobuchar’s office did not respond to a request for comment by publication time.

Tyler Durden Wed, 07/15/2026 - 20:55

Trump: Iran Has Freed Detained American Woman In 'Goodwill' Gesture, After Days Of Bombing Summary

• Detained American woman freed by Iran; Trump: "appreciates this gesture of Goodwill by Iran!"
• Pentagon announces second wave of strikes later Wednesday, the after initial 90-minute attack to start the day.
• Trump threatens wider strikes unless Iran returns to talks - says attacks to 'expand' next week.
• Wednesday saw 5th strait day of US bombardment on chiefly Iranian coastal sites.
• Iran hits US-Gulf bases and warns on regional oil exports, says it is in 'control' of Hormuz Strait.
• No evidence de-escalation: Tehran rejects talks and vows more retaliation.

//--> Will the U.S. invade Iran before 2027?
Yes 17% · No 83%
View full market & trade on Polymarket

*  *  *

American Freed by Iranians, Trump Announces

In a sudden and very surprising Wednesday evening development, President Trump announced that Iran has released an American woman from prison who had been deemed wrongfully detained since December 2024.

"Iran has allowed an American Citizen, who was wrongfully detained in December of 2024 under the ‘presidency’ of Sleepy Joe Biden, to leave the Country. She is now safely outside of Iran, and in good condition," Trump said on Truth Social. And then most surprisingly: "The United States of America appreciates this gesture of Goodwill by Iran!" Trump added.

She's been identified in a breaking report from The Hill:

The American citizen was later identified as Dena Karari by her lawyer Jared Genser on the social media platform X. He said his client has been trapped in Iran since December 2024 “on bogus charges” and that “this would not have happened but for the extraordinary and relentless efforts” of President Trump.

“Dena is now safe and traveling back to the United States,” Genser concluded.

 According to some scant details on Karari's case:

The New York Times reported last year that an Iranian American woman who was first imprisoned and prevented from leaving the country in December 2024, but released from custody, “works for an American technological company and runs a charity for underprivileged children in Iran”.

After the US joined Israel in bombing Iran in 2025, she was charged with espionage.

Trump has further confirmed, "She is now safely outside of Iran, and in good condition."

There's a possibility the White House could use this as an 'opening' with Tehran, in order to get diplomacy back on track, after days of bombing - especially Trump just appeared to give a rare positive shoutout to the Iranians.

Could this signal a move toward de-escalation?

President Trump announced that Iran has allowed an American citizen, who had been wrongfully detained since December 2024, to leave the country.

At the same time, there are reportedly Iranian strikes on Bahrain and Kuwait pic.twitter.com/HFS5aGPhIo

— Wladimir van Wilgenburg (@vvanwilgenburg) July 15, 2026

Pentagon Announces Another Wave of Strikes Later Wednesday

It is night time in Iran, and apparently the US 'break' is over, and bombing resumes: (CENTCOM) "At 3 p.m. ET, U.S. forces launched operations for a second wave of strikes today against Iran. The strikes are targeting Iranian military capabilities used to threaten vessels freely transiting through the Strait of Hormuz, an international waterway vital to global commerce. The U.S. military is holding Iran accountable at the Commander in Chief's direction."

Without doubt these attack waves are getting heavier, but so is Iran's 'retaliation'... from earlier: Kuwait Hit By Worst Iran Attacks in Weeks As War Escalates (Bloomberg).

Meanwhile an interestingly ambiguous admission from President Trump Wednesday afternoon:

US President Trump says oil price will yo-yo for a while; thinks inflation at year-end will be lower than now. Would like to see rates go down but better to pause than hike

Later into the night, the US military disabled an unladen oil tanker attempting to sail toward an Iranian port in the Arabian Gulf:

U.S. forces enforced naval blockade measures against Iran, July 15, by disabling an unladen oil tanker attempting to sail toward an Iranian port in the Arabian Gulf.

U.S. Central Command (CENTCOM) forces observed Curacao-flagged M/T Belma transiting international waters toward Kharg Island. The commercial vessel ignored multiple warnings as it attempted to violate the U.S. blockade. A U.S. aircraft disabled the vessel after firing hellfire missiles into the ship’s smokestack. The ship is no longer transiting to Iran.

Trump: Strikes Will 'Expand'

Earlier in the day, within hours after the morning's 90-minutes salvo of latest US strikes on Iran was completed, President Trump once again claimed that Iran is desperately seeking diplomatic talks. However Iran was quick to respond that it has "no plans" for returning to the negotiating table.

With this, President Trump is ready to escalate militarily, telling FOX that strikes on the Islamic Republic will "expand" next week - though some are wondering why he is signaling the delay.

President Trump tells Fox News that strikes against Iran will expand next week as the Middle East braces for what comes next. pic.twitter.com/zOwaGc44KF

— Trey Yingst (@TreyYingst) July 15, 2026

De-escalation seems nowhere on the horizon, also as the more 'hardline' influence within Iran seems ascendant, per Al Jazeera:

The Iranian government is releasing the statistic of the seven soldiers killed in US attacks “very deliberately” to solidify its popular support through the war, says Mehran Kamrava, professor of government at Georgetown University Qatar.

“What we have seen in Iran … is a resurgence of Iranian nationalism, and by highlighting the fact that Iranian soldiers are dying and giving their lives for defending the country, what the government is trying to do is to ensure that that popular support remains intact,” Kamrava told Al Jazeera.

That support is important as there is little doubt the country is struggling with high inflation, unemployment, and $270bn in damages to the economy, he said. Meanwhile, the Iranians are aware that they cannot go “toe-to-toe militarily with the Americans, so they are turning the conflict from a military one into an economic one, hence the attacks on shipping,” Kamrava said.

Attack Waves Halted, For Now...

The Pentagon opened Wednesday morning (US time) by announcing yet another round of strikes on Iran, in what looks like sustained action - also increasingly expanding to include civil and energy infrastructure of the Islamic Republic.

"At 6 a.m. ET today, U.S. Central Command forces began launching a wave of strikes against Iran," Centcom announced. "The strikes are designed to further degrade military capabilities Iranian forces have used to attack commercial shipping in the Strait of Hormuz."

The US military further indicated it launched a "seven-hour wave" of strikes overnight - and followed during the next day (Wednesday) by a 90-minute wave. Also the evening prior, the US reimposed a naval blockade on Iranian ports and alongside launching its fourth consecutive night of strikes on the country, also as President Trump freshly warned that if Iran does not return to the negotiating table, "next week it gets really bad for them, because next week comes the power plants."

BREAKING: Iran declares it has “no plans” for talks. https://t.co/GNDtzt8Rx5

— Polymarket (@Polymarket) July 15, 2026

"You better make a deal, or you're not going to have anything left," Trump has warned. "Ultimately, we'll hit energy targets in Iran. Next week comes the bridges. We're going to knock out all of their power plants. We'll knock out all of their bridges unless they get to the table and negotiate."

US Strike Hits Iranian Military Barracks 

Iranian government spokesperson Fatemeh Mohajerani announced that at least 30 civilians have been killed across the country over 260 people wounded by American strikes of the last few days.

Airstrikes also reportedly took out an Iranian military barracks in southeastern Iran, leaving seven dead. The Associated Press details that "One strike targeted a barracks for Iran’s 388th Mechanized Infantry Brigade, which operates tanks and armored vehicles, in Sistan and Baluchestan province, Iranian state television reported."

"The report said the Americans fired at least 13 missiles in the attack and that the seven dead included conscripts and career soldiers," AP continues. "A number of troops were wounded."

Heavy bombardments have focused on the coastal areas, with US strikes reportedly having hit a civilian maritime control tower in Chabahar, southern Iran - location of country's only deep-water port outside the Strait of Hormuz, which allows Iran direct access to the Indian Ocean without passing through the Gulf.

US strikes hit a civilian maritime control tower in Chabahar, southern Iran.

Chabahar is strategically critical for Iran.

It's the country's only deep-water port outside the Strait of Hormuz, giving Iran direct access to the Indian Ocean without passing through the Gulf.… pic.twitter.com/NYNoy0azAI

— Clash Report (@clashreport) July 15, 2026

IRGC Strikes Several US-Gulf Facilities

As expected, Iran's IRGC has continued launching a wave of retaliatory strikes targeting critical US military infrastructure across the Gulf and even reaching into Jordan.

The list of targets hit, according to an array of regional sources, include - Bahrain's Sheikh Isa Air Base, the US Navy's 5th Fleet support facility, Kuwait’s Ali Al-Salem and Camp Buehring, and Jordan’s Muwaffaq Salti Air Base.

Also, Emirati sources have reported strikes on the critical Fujairah Port, while Kuwait confirms one of its navy vessels was struck, leaving four crew members injured. Additionally, social media is awash with unverified footage showing Shahed kamikaze drones striking Kuwait, as well as massive plumes of black smoke rising from burning facilities in Kuwait. US 5th Fleet HQ locations in Bahrain also show signs of damage from inbound projectiles.

The IRGC has insisted that the "export of oil and gas from the region will be either for everyone or for no one."

The Iranians have continued to tout their nationalist defiance and have at no point shown signs of backing down as is hoped by Trump:

Addressing the Civilized and Courageous Nation of Iran with derogatory language does not diminish its Greatness.

Iranians are known for their civility, culture, and strong moral values. We do not answer vulgarity with vulgarity, but with action: fearlessly and with great valor.

— Syed Abbas Araghchi (@SyedAbbasA3t) July 15, 2026

New Warning of Kharg Island Operation

President Trump continues facing pressure over what's next or what the ultimate objectives are. Related to this, he was pressed by Fox News Wednesday night about taking Kharg Island. Trump responded:

"We already hit Kharg Island, as you know, twice. Even three times. I said hit everything but just leave that little area from 25 yards out because I don't want that in terms of the world economy. As far as taking it is concerned, if we degrade them far enough and deep enough back, I would do that."

But Iranian forces show no signs of backing down. Instead a message from its army command via state TV says that "a decisive response to this aggressive action by the American enemy" will keep coming.

Footage, reportedly taken during Iranian drone and missile strikes against Kuwait earlier, shows a Shahed-136 impact. The U.S. continues to trade strikes with Iran, as targets inside Bahrain and Kuwait are now bearing the brunt of Iranian fires. pic.twitter.com/AC07mtqi96

— OSINTdefender (@sentdefender) July 15, 2026

Missile alert warnings have continued to sound in Bahrain and Kuwait early Wednesday amid the Iranian fire, which has at this point grown to a daily occurrence.

Meanwhile, strikes on nuclear plans return?

Video US air strike which destroyed an Iranian 35 mm Samavat anti-aircraft gun (Swiss Oerlikon GDF-001 copy) stationed to protect Bushehr nuclear powerplant.
Geo-located by @GEOIMINT at 28.83027, 50.87936. pic.twitter.com/RXrnCO9TJA

— Mehdi H. (@mhmiranusa) July 14, 2026

Overnight Developments

via Newsquawk...

• US President Trump said in a pre-recorded Fox News interview that they are beating up Iran badly and Hormuz has to stay open, while he added that strikes will continue until he says it is enough, as well as stated they will save energy targets for last and will ultimately hit energy targets. Trump also said they will hit Iran hard on Wednesday night, and that next week will get really bad for Iran, in which they will hit Iran's power plants and bridges next week unless Iran comes to the negotiating table. Furthermore, he said US officials spoke to Iran on Tuesday and told Iran that it better make a deal.
• US Central Command forces began launching an additional round of strikes against Iran at 15:00EDT/20:00BST on Tuesday, to continue degrading Iranian capabilities used to attack commercial shipping in the Strait of Hormuz, while CENTCOM later announced the completion of strikes against Iran.
• US struck Qeshm Island in southern Iran, and explosions were heard in the maritime area of eastern Hormozgan and Sirik, while explosions were heard in Bandar Abbas and Hengam Island. Explosions were also heard in Bampur and Chabahar in Iran, although Iran's semi-official news agency Tasnim noted officials denied reports of explosions in Chabahar, while explosions were reported in Iran's port city of Bandar Imam Khomeini, and a mineral water plant in Deloran was hit by three projectiles. Furthermore, reports noted that air defences around the Bushehr Nuclear Power Plant in Iran became active.
• IRGC said it targeted enemy weapons and parts storage in Bahrain and Kuwait, while it targeted a drone ramp in Kuwait's Ali Al Salem air base and targeted US positions at Jordan's Azraq base, as well as the US Fifth Fleet Command HQ, fuel facilities and equipment in Bahrain. IRGC said as long as the US evil stays in the region, not a drop of oil and gas will be exported from the region, and that US aggression will have no result other than delaying the opening of the Strait of Hormuz.
• Iran will respond to the US attacks, Tasnim reported.
• Iran's Deputy Foreign Minister Gharibabadi said the US is making a mistake if it thinks its military attacks and blockade will force them to request negotiations, but also commented that Iran's return to negotiations and tolerance regarding the Strait of Hormuz is possible. Furthermore, he said the MoU effectively no longer exists and that no country should expect Iran to continue implementing the terms of the memorandum.
• Israeli PM Netanyahu is reportedly to travel to Washington on Saturday evening, aiming to meet with US President Trump, Yedioth reported.

Tyler Durden Wed, 07/15/2026 - 20:45