International developments: Diplomatic efforts, economic changes and security issues in Europe
International relations are currently at the center of attention, as the United States and Iran appear to be moving closer to a new diplomatic agreement. France has officially called on both sides to seize this significant opportunity to strengthen peace. However, Iranian Foreign Minister Abbas Araghchi expressed concern that Israel is trying to block this process, emphasizing that this effort has many enemies.
These diplomatic developments directly affected the global economy and markets. Oil prices saw a 3.5% drop, reaching a three-month low, as investors reacted positively to the possibility of an agreement between Washington and Tehran. At the same time, the Wall Street stock market recorded gains, with investment sentiment also bolstered by the activities of the company SpaceX. In contrast, gold closed with a total decline of 2.3% for the week, despite the small gains recorded on Friday.
In Ukraine, President Volodymyr Zelenskyy signed a new law that changes the status of the Russian language in the country. Due to the ongoing Russian attack, the Russian language is no longer considered protected. Zelenskyy himself, although a Russian speaker, proceeded with this move in response to the war, strengthening Ukraine's national identity during a difficult period.
Regarding European security, a Bloomberg report is causing concern among the continent's countries. According to the publication, Europe is preparing for the possibility of drastic cuts in the US military contribution to NATO in the event of war. This development is forcing European governments to reconsider their defense spending and prepare for greater autonomy in the military sector.
In Britain, the government proceeded with cabinet changes, with the appointment of Angela Eagle to the position of Security Minister. Her predecessor took over as Defense Minister, in an effort to strengthen the country's internal and external security. At the same time, in the US, a federal judge stood by his decision to remove Donald Trump's name from the Kennedy Center, despite the fact that the name still remains on the building's facade.
Finally, in Greece, great unrest prevailed at the port of Lavrio on Friday night. The ship "Blue Star 2", which was carrying 952 passengers, was forced to change its route after a bomb threat. Authorities immediately set up a blockade at the port and began strict checks on the ship to ensure that all passengers and crew are safe.