Update 18.6.2025

The G7 is advancing discussions on securing critical mineral supplies to reduce dependence on China, as leaders confront geopolitical challenges related to reliance on non-market practices, according to Reuters. Following the G7 summit, President Donald Trump stated that his primary focus is on Iran's nuclear ambitions, emphasizing the need for a definitive resolution rather than a temporary ceasefire in the escalating conflict between Israel and Iran. In U.S. energy policy, a Senate proposal is raising concerns among clean energy advocates by suggesting the complete phase-out of solar and wind tax credits by 2028 while extending incentives for hydropower until 2036. This shift reflects a trend towards prioritizing certain energy sources under the current administration, although critics argue it undermines necessary support for solar energy, also reported by Reuters. As tensions rise in the Middle East, Trump has advised residents of Tehran to consider evacuation in light of ongoing Israeli attacks and Iranian retaliation. He expressed disappointment over Iran's lack of negotiation progress which could have alleviated the violence, as reported by Bloomberg. The unfolding geopolitical and market dynamics create a landscape of uncertainty, affecting both international relations and economic conditions globally.