A RAND Corporation study based on a wargame concludes that US warships damaged in a conflict with China could not be rapidly repaired and returned to combat due to overwhelmed maintenance facilities, insufficient spare parts, and lack of assured allied shipyard access. The study recommends streamlining repair command, expanding mobile repair capabilities, and securing prior agreements with allies to address vulnerabilities in the Indo-Pacific theater. The wargame specifically simulated a conflict with China and identified these same critical vulnerabilities, reinforcing the need for the recommended actions.

US Secretary of State Marco Rubio will travel to Bahrain, Kuwait, and the UAE from June 23 to 25 to attend a Gulf Cooperation Council meeting and discuss the US-Iran memorandum of understanding, regional security, and maritime navigation in the Strait of Hormuz. The visit is his first to the Middle East since the US-Israeli war on Iran began on February 28. Rubio will seek to build regional support for the agreement, which includes a 60-day roadmap for a final deal, a temporary 60-day US license allowing Iranian oil imports, and Iran's agreement to readmit IAEA inspectors. The Strait of Hormuz remains open with 15 transits recorded on June 22.

China's Ministry of Commerce added 10 US companies, including rare-earth miner MP Materials and defense contractors, to its export control list, prohibiting the export of dual-use items. Separately, the Ministry of Finance barred Chinese government agencies from purchasing products from 46 US firms, including subsidiaries of Lockheed Martin and Boeing. These actions are a direct retaliation for the Pentagon's recent addition of Chinese tech giants Alibaba, Baidu, and BYD to its military-linked blacklist. Analysts view the measures as largely symbolic but indicative of escalating US-China trade and technology tensions despite a recent trade truce.

Iran's negotiating team departed Switzerland after 18 hours of talks with the United States, while technical teams remain to continue negotiations on the Islamabad memorandum of understanding. The talks mark a significant diplomatic engagement between the two countries.

Alan Greenspan, who served as chairman of the US Federal Reserve from 1987 to 2006, has died at age 100 from complications of Parkinson's disease. His tenure spanned multiple economic booms and crises, including the 1987 stock market crash, the dot-com bubble, and the aftermath of 9/11. While praised for guiding the US economy through periods of growth, he was later criticized for policies that critics say contributed to the 2008 global financial crisis, particularly his faith in self-regulating markets and light financial regulation. His death marks the end of an era in American economic history.

Pakistan has been mediating between the US and Iran since February 2026. Its shuttle diplomacy included visits to Iran in May 2025 and intensive efforts after US-Israel airstrikes in late February 2026, culminating in the April 11 Islamabad talks hosted by Pakistan. In a major diplomatic achievement, Pakistan successfully mediated a ceasefire and subsequent peace talks between the US and Iran, now taking place in Switzerland. Army chief Asim Munir and Prime Minister Shehbaz Sharif played key roles, with Munir earning praise from US President Trump as 'my favorite field marshal.' Analysts note that support from China and Qatar was critical to the success. US Vice President JD Vance joked about Munir, calling him a 'great diplomat' and comparing him to his Indian-American wife. Pakistan's role extended beyond messaging to direct mediation, with three-way discussions taking place. The mediation has elevated Pakistan's global diplomatic standing.

A Hebrew University poll of 3,644 Israelis conducted June 17-20 found 92.1% believe Iran emerged stronger from the recent Middle East conflict and subsequent U.S.-Iran deal. 82.9% feel Israel's long-term security has been weakened, and 72.5% do not trust Prime Minister Netanyahu's claims about the military campaign's achievements. Support for Netanyahu's premiership dropped from 40.5% in March to 29.4% in June. Despite this, 48.2% back renewed major military action against Hezbollah in Lebanon even at risk of confrontation with Washington.

A bipartisan group of U.S. senators introduced the SABER Act (Seized Assets for Battlefield Equipment and Readiness), which would allow confiscated Russian sovereign assets to be used for purchasing weapons and military equipment for Ukraine. The bill builds on the REPO Act and aligns with the Trump administration's policy of using frozen assets as a foreign policy tool without additional taxpayer burden. Ukraine's Ambassador to the United States Olha Stefanishyna welcomed the initiative, noting it broadens the political discussion on practical mechanisms for using Russian assets.

China called on the US and Iran to keep working in the same direction for positive results after the first round of high-level talks at the Lake Lucerne Summit in Switzerland, mediated by Pakistan and Qatar. The talks, involving US Vice President JD Vance and Iranian Parliament Speaker Mohammad Baqer Qalibaf, produced a joint statement noting encouraging progress and a mechanism for further technical talks. China's Foreign Ministry spokesman Guo Jiakun publicly urged the US and Iran to maintain negotiation momentum and work toward positive results. Iranian Foreign Minister Abbas Araghchi said the negotiations achieved major progress toward ending the war in Lebanon and easing economic pressure on Iran, including waiving oil and petrochemical export restrictions, lifting the blockade, releasing some frozen assets, and launching a reconstruction plan for Iran.

The U.S. Supreme Court, in a 6-3 decision, reinstated the murder conviction of Pedro Hernandez for the 1979 kidnapping and murder of six-year-old Etan Patz in New York City. The Court overturned a lower appeals court ruling that had thrown out the conviction due to a flawed jury instruction. Hernandez's lawyers argue his confession was false and coerced, but the Supreme Court held that the lower court exceeded its authority in overturning the state conviction.

Iran's deputy secretary of the Supreme National Security Council, Ghadir Nezami, said during a visit to India that Iran is prepared to respond to any potential threats despite ongoing negotiations with the US. He also called on China to continue supporting the implementation of the first-phase memorandum of understanding between Iran and the US, underscoring China's role in international and regional issues. He expressed hope that China would continue supporting the implementation of the first-phase memorandum of understanding between Iran and the US, highlighting China's role in international and regional issues.

Background: Direct negotiations between Israel and Lebanon opened in Washington on May 14, with Israel demanding 'total peace' conditional on Hezbollah's dismantlement, while Lebanese President Joseph Aoun pushed for a return to the 1949 armistice and PM Nawaf Salam signaled openness to peace within the 2002 Arab Peace Initiative framework. On June 22, Aoun discussed ceasefire reinforcement and halting Israeli escalation with US Vice President JD Vance, senior adviser Jared Kushner, and Qatari PM Mohammed bin Abdulrahman Al Thani. Talks included forming a support cell. Separately, Iran reported significant progress in US negotiations in Switzerland toward ending the war in Lebanon. Israeli attacks since March 2 have killed over 4,000 people and injured over 12,000.

US President Donald Trump blamed vandalism for issues with the newly renovated Lincoln Memorial Reflecting Pool, claiming chemicals were dumped in it. Separately, the US military killed two people in an attack on a suspected drug smuggling boat in the Caribbean as part of Operation Southern Spear. The article also covers Trump's criticism of UK PM Starmer, a dispute with Italian PM Meloni, US criticism of Cuban economic reforms, the unveiling of a new Air Force One gifted by Qatar, a flu outbreak at a US base after mandatory vaccination was ended, a US trade investigation into German drug pricing, Republican criticism of a proposed $300 billion fund for Iran, and other US political and security developments.

Background: Global financial markets had turned cautious amid renewed tensions with Iran, with oil prices rising and gold falling, as investors awaited US economic data and expected elevated interest rates. Today: Global markets opened mixed as US-Iran talks in Switzerland continued over the weekend, with both sides remaining at the table despite harsh remarks from US President Donald Trump. Maritime shipping traffic via the Strait of Hormuz declined compared to the previous week. The US Personal Consumption Expenditures index and growth data are due this week. The Fed is expected to hike rates once by year-end. Gold rose 0.6% to $4,180/oz, while US indexes fell. The US 2-Year Treasury yield rose to 4.22%, the 10-Year yield climbed 3 basis points to 4.48%, and the US Dollar Index edged up 0.1% to 100.9. European and Asian markets showed mixed performance, with China maintaining its one- and five-year credit interest rates at 3% and 3.5%, respectively. South Korea's SK Hynix shares rose 3.9%, reaching a market cap of $1.3 trillion.

Background: The US Southern Command has conducted multiple lethal kinetic strikes on vessels operated by Designated Terrorist Organizations in the eastern Pacific and Caribbean, killing suspected narco-traffickers. On June 22, 2026, the US military struck another alleged drug trafficking vessel in the Eastern Pacific, killing two people and leaving six survivors. The strike brings the total vessels hit to over 60 and deaths to over 210 since Operation Southern Spear began in September 2025. The Pentagon's inspector general is reviewing targeting procedures but not the legality of the strikes. Legal experts and rights groups continue to warn that the strikes may be illegal under international law and constitute extrajudicial killings, while critics also question the campaign's effectiveness, noting that most fentanyl reaching the US is smuggled overland from Mexico.

Analysts assess that China is developing a new beyond-visual-range air-to-air missile, the PL-16, with an estimated range of 200-300 km and dual-pulse rocket motor technology. The missile is designed to target large, slow-moving aircraft such as AWACS and tankers, potentially giving the PLA an edge in Asia-Pacific conflicts. The PL-16 would rival the US AIM-260 JATM and could be carried in greater numbers by stealth fighters like the J-20. Details remain unconfirmed by Beijing, relying on leaked information.

A temporary U.S.-Iran peace agreement has driven down oil prices, potentially saving airlines billions on jet fuel. However, analysts say travelers are unlikely to see immediate fare reductions due to limited seat availability, aircraft delivery delays, and airlines' focus on rebuilding margins. U.S. carriers have only recouped 40-60% of fuel cost increases through higher fares. Outside the U.S., fare relief is expected to be uneven, with long-haul European routes more likely to see cuts than short-haul. Middle Eastern carriers may use promotions to regain traffic.

The US Army deployed unmanned surface vessels (USVs) to escort a logistics support vessel during Exercise Salaknib 2026 in the Philippines, demonstrating autonomous maritime security operations. The USVs navigated autonomously, providing real-time situational awareness and threat detection, compressing commander decision-making from hours to seconds. This test aligns with the US military's expansion of unmanned maritime capabilities in the Indo-Pacific.

Former New York Governor Andrew Cuomo will lead a new joint venture between Intercontinental Exchange (parent of NYSE) and cryptocurrency exchange OKX, signaling a major tie-up between traditional finance and crypto sectors. This partnership marks a significant collaboration between traditional finance and crypto sectors.

Coca-Cola is appealing a 2020 US Tax Court ruling that could result in a $20 billion tax bill over transfer pricing practices with foreign subsidiaries. The case, which begins oral arguments in a Florida court, centers on whether Coca-Cola undercharged its units in Ireland and other countries to minimize US taxes. The outcome could set a precedent for how US multinationals are taxed on overseas profits.

The Lincoln Memorial Reflecting Pool, renovated at a cost of $14 million and completed on June 5, turned green from algae within days. President Trump alleged vandalism, including a 250-foot gash and chemical dumping, without providing evidence. Five people were arrested, including former Olympian David Hearn, who said he only touched the pool's liner. A no-bid $1.7 million contract was awarded to a firm tied to Trump donor John J. Cafaro, who has prior convictions for bribery and false statements. The National Park Service used hydrogen peroxide to treat algae, which can also act as paint remover. Trump ordered immediate repairs and said the pool may need to be drained.

An analysis argues that Singapore's heavy reliance on imported natural gas for power generation (95%) and its role as the world's largest bunkering port (record 56.77 million tonnes of marine fuel sold in 2025) make it a key indicator of fuel stress in an Indo-Pacific conflict. The article warns that disruptions to Singapore's energy system would directly impact US military logistics, given the 1990 US-Singapore access agreement. It recommends USINDOPACOM monitor fuel indicators and build a more distributed regional fuel architecture.

BAE Systems has received a $535 million contract from the US Army to produce additional M109A7 Paladin self-propelled howitzers and M992A3 ammunition carriers. The M109A7 is the latest variant of the 155mm tracked artillery system, offering rapid 'scoot-and-shoot' capability to improve survivability against counter-battery threats. The contract underscores ongoing demand for modernized artillery systems.

A Foreign Policy column by Suzanne Nossel argues that the United States must complement its AI innovation lead with a deliberate strategy to spread its AI stack worldwide, countering China's diffusion through the Belt and Road and Digital Silk Road. It proposes a Global Empowerment Network for Accountable AI to offer financing, training, and safeguards, differentiating US technology from Chinese offerings that raise privacy and surveillance concerns.

A roundup of key developments: Qatar and Pakistan report progress in US-Iran talks in Switzerland; a factory explosion in Qatar's Ras Laffan injures 54 and leaves 18 missing; Trump criticizes Italy's Meloni over Iran nuclear stance; Starmer resignation predicted; Iran frozen assets deal; Jordan executes six; DRC Ebola cases exceed 1,000; Syria arrests ex-Sednaya officer; Zelenskyy accuses Polish president; Bangladesh PM visits Malaysia; German minister warns on Hormuz; India ammonia leak kills 7; Russia dismisses Alaska summit agreements; Israel refuses Lebanon withdrawal; Türkiye, Egypt, Pakistan, Saudi Arabia back Palestinian statehood; Libya oil output highest since 2013.

Cuba's Communist Party and legislature approved 176 market-oriented measures that fundamentally shift the island's socialist economy toward private and international capital, amid the worst social crisis in decades. The reforms come as the US tightens an energy blockade and sanctions against entities trading with Cuba's military conglomerate Gaesa.

Sri Lankan authorities have arrested over 700 foreign nationals (mostly Chinese, Vietnamese, Cambodian, and Indian) since January for operating online scams from the island. The scams, including lottery fraud and 'pig butchering' cryptocurrency schemes, target victims in China, Europe, and the US. Criminals rent entire hotel floors and office buildings, often paying months in advance, raising concerns about the country's reputation.

Pharmaceutical company AbbVie has agreed to acquire Apogee Therapeutics for $10.9 billion, gaining access to a promising drug candidate for inflammatory diseases. The deal underscores AbbVie's strategy to bolster its immunology pipeline.

Irish building materials group CRH has agreed to acquire US-based Arcosa for $8.5 billion, expanding its footprint in North America and marking a significant consolidation in the construction materials sector.

Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani denied reports that he snubbed the US vice president, stating they spent hours together during negotiations and maintained a strong partnership. The denial was made in an interview with Al Jazeera.