US weighs risks of Iranian retaliation
As Donald Trump huddles with advisers in the White House's situation room weighing whether to join Israel in striking Iran, the US
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Miami Herald
12 minutes ago
- Miami Herald
Why Iran War Hurts China More Than America
China's energy supply from the Middle East could face severe disruptions as the Israel-Iran conflict threatens to spill over into a wider regional war. The industrial superpower's $19 trillion economy relies heavily on coal, natural gas and crude oil for manufacturing. China was the world's largest consumer of energy in 2024 and the second-largest consumer of oil behind the United States, according to the London-based Energy Institute. Israel has launched a week of airstrikes targeting sites in Iran, including facilities central to Tehran's nuclear program, but its energy export infrastructure has so far been spared. That could change as the war intensifies, and fears are growing that Iranian political leaders could respond to any U.S. military intervention by blockading the strategic Strait of Hormuz. Officially, China imported no oil from Iran last year. However, energy researchers say Iranian oil delivered via unofficial channels, such as transshipment, largely end up in the country's smaller independent refineries. The U.S. has sanctioned Chinese entities that allegedly assist in Iran's secret oil trade in defiance of Western restrictions. Over 90 percent of Iran's sanctioned-and therefore cheaper-crude oil exports go to China, including via transshipment points such as Malaysia, said commodities analysts at Kpler. But Chinese energy imports are further exposed in or near the Persian Gulf, where six of its top 10 oil suppliers are found in official government statistics. While Beijing's top oil supplier in 2024 was neighboring Russia, shipments from Saudi Arabia, Iraq, Oman, the United Arab Emirates, Kuwait and Qatar together accounted for over half of China's oil imports, according to Newsweek's analysis of available customs data. The U.S. bought the bulk of its crude oil from Canada. Saudi Arabia and Iraq were among its top 10 suppliers but only accounted for around 8 percent of its imports. Energy markets are jittery. U.S. President Donald Trump's call for Iran's "unconditioned surrender" sent up oil prices this week, but global costs would spike if Tehran follows through on its threat to close the Strait of Hormuz, which links the Persian Gulf to the Gulf of Oman and the wider Indian Ocean region. The U.S. Energy Information Administration estimates that up to 20 million barrels of crude oil each day flow through the waterway, which is just 21 miles wide at its narrowest point. Oil prices are still on the rise as the Israel-Iran missile war enters its seventh day. West Texas Intermediate crude, a U.S. price measurement, topped $76 per barrel, a five-month high. The international standard Brent crude reached $77 per barrel, a four-month high. A major conflict that cuts off supply lines from the region could result in a global economic shock that sends oil above $100 per barrel. Prices last reached that point in March 2022, after Russia's invasion of Ukraine. Officials in Beijing appear to be planning for the worst. China has been building up crude oil stockpiles by refining less than it buys and produces itself, according to Reuters. What's more, disruptions in the Middle East could directly benefit Russia, among the world's top energy exporters. China's Foreign Ministry did not immediately respond to a written request for comment after hours. Howard J. Shatz, a senior economist at the RAND Corporation, said in analysis published by the think tank this week: "Oil prices jumped with the start of Israel's action against Iran, suggesting that oil markets see increased risk, but it is too soon to reach a concrete judgment on global economic consequences. "There will be two specific factors to watch to make a better judgment as to global economic consequences: first, whether Iran attacks Gulf Arab oil infrastructure, and second, whether passage through the Strait of Hormuz is blocked. If either or both happen, energy prices are likely to rise much further, raising the risk of a global recession. If neither happens, there will be heightened risk, but more modest energy price increases to which the world can probably adjust, although with a modest drag on growth." World leaders have moved to inject calm in the Middle East, the latest being Chinese President Xi Jinping and Russian counterpart Vladimir Putin, who in a call on Thursday condemned Israel for escalating tensions by striking Iran. "If the conflict escalates further, not only will the conflicting parties suffer greater losses, but regional countries will also suffer greatly," Xi said, according to China's official Xinhua news agency. "The parties to the conflict, especially Israel, should cease fire as soon as possible to prevent the situation from escalating in turn and resolutely avoid the spillover of war," he added. Related Articles Video of Theo Von Sounding Alarm on Possible War With Iran Takes Off OnlineSatellite Images Show Iran's Buried Nuclear Sites That Trump Could StrikeRussia's Alliance With Iran Explained Following Nuclear WarningPutin is Close to Losing His Grip on the Middle East 2025 NEWSWEEK DIGITAL LLC.
Yahoo
12 minutes ago
- Yahoo
White House Fumes at ‘Ugly' Sculpture Mocking ‘Dictator' Trump's Birthday Parade
The White House has issued a scathing response to a statue erected on the National Mall to protest President Donald Trump's military birthday parade. Titled 'Dictator Approved,' the 8-foot-tall sculpture features a gold-painted hand giving a thumbs up while crushing the Statue of Liberty's verdigris crown. Its base is decorated with four plaques highlighting quotes from authoritarian leaders praising Trump. According to a permit for the installation issued by the National Park Service, the piece was meant as a rebuke to Trump's June 14 parade celebrating the Army's 250th anniversary—which coincided with Trump's 79th birthday, The Washington Post reported. The parade 'feature[ed] imagery similar to autocratic, oppressive regimes' like North Korea, Russia, and China, the statue's creators—who so far haven't been identified—wrote in the application. 'If these Democrat activists were living in a dictatorship, their eye-sore of a sculpture wouldn't be sitting on the National Mall right now,' Abigail Jackson, a White House spokeswoman, wrote to the Post an emailed statement. 'In the United States of America you have the freedom to display your so-called 'art,' no matter how ugly it is,' she added. The plaques on the base quote Russian President Vladimir Putin saying, 'President Trump is a very bright and talented man,' and Hungarian Prime Minister Viktor Orban saying, 'The most respected, the most feared person is Donald Trump.' A glowing quote from former Brazilian president Jair Bolsonaro says, 'We do have a great deal of shared values. I admire President Trump.' And North Korea's Kim Jong Un is quoted as saying the phrases, 'Your excellency,' 'A 'special relationship' and, 'The extraordinary courage of President Trump.' The statue can stay up through Sunday, according to the National Parks Service permit. The style and materials used are similar to protest artworks put up around Washington, D.C., Pennsylvania, Oregon, and New York last fall. One of those pieces depicted a pile of poop left on former House Speaker Nancy Pelosi (D-CA)'s desk in mock 'tribute' to the Jan. 6 rioters who stormed and defiled the Capitol building in an attempt to overturn Trump's 2020 election defeat. Trump's $45 million military parade drew thin crowds and was poorly attended even by Republicans, though the president declared it a 'tremendous success.' Critics accused the president—who insisted on having tanks rolling through the streets of D.C.—of staging a Soviet-style event and using the troops as political pawns. The event coincided with millions of Americans protesting his administration at 'No Kings' rallies nationwide.
Yahoo
16 minutes ago
- Yahoo
Preparations for NYC Election Day heat wave blasted as inadequate by Cuomo
Hundreds of polling sites in the city that do not have air conditioning systems will be equipped with electric fans on Tuesday, when temperatures are projected to soar into the 100s as New Yorkers head out to vote in the local 2025 primary elections. But the ramped-up heat precautions were criticized as inadequate by mayoral frontrunner Andrew Cuomo's campaign, which earlier this week demanded that Mayor Adams ensures the Board of Elections installs portable air conditioning units at all sites that do not have centralized A/C. The Cuomo campaign also demanded the mayor's office makes sure polling sites have water bottles on hand to distribute to voters waiting on line. 'This isn't sufficient,' Cuomo campaign spokesman Jason Elan said Thursday in response to the BOE's new heat precaution protocol. 'We are specifically asking for water to be passed out and A/C systems to be installed to ensure that people who are voting can do so in a cool and comfortable environment.' Elan's rebuke came after Vinny Ignizio, the deputy executive of the city Board of Elections, said his agency estimates a bit less than half of the 1,213 polling stations operating across the city Tuesday will not have air conditioning and will need to be fitted with fans. He cautioned that the board's review of sites is still ongoing and that he didn't have an exact number on how many sites don't have A/C. In a statement, the board also said staffers will ensure 'a steady supply of water is available' at all polling stations and work closely with emergency management agencies and utility providers to make sure sites aren't at risk of losing electricity amid the heat. Ignizio said the heat wave set to wash over the city during Tuesday's election is mostly a problem for poll workers. 'While voters generally spend only a few minutes at a polling place, our poll workers serve on the front lines for up to 17 hours,' he said. 'This is fundamentally a facilities and workforce challenge, and we are treating it with the urgency it deserves.' Adams spokeswoman Kayla Mamelak shot back at Cuomo's criticisms, arguing his demands are misdirected. 'As Andrew Cuomo should know, elections are managed by the New York City Board of Elections – an independent body, separate from the Adams administration,' she said. 'Mayor Adams believes that all New Yorkers should exercise their democratic right to vote, and we are coordinating closely with the New York City Board of Elections in advance of Tuesday's forecasted heat to monitor for impacts.' Cuomo is polling as the favorite to win the Democratic mayoral primary, the top item on Tuesday's ballot. A significant segment of Cuomo's political base is older, and the scorching temperatures could pose an issue in terms of those voters making it out to the polls Tuesday. Cuomo's main opponent in the mayoral race, democratic socialist Zohran Mamdani, has been closing in on him in some recent polls. Adams isn't running against Cuomo in Tuesday's primary, having dropped out of it to seek reelection as an independent in November's general election instead amid continued political fallout from his federal corruption indictment.
