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19, June 2026

EU leaders back stronger trade defenses amid Chinese export surge ⁰

EU leaders agreed during talks Thursday that the bloc must develop beefed-up trade defenses to curb a surge of Chinese exports deemed an existential threat to European industry by Brussels — while simultaneously seeking “constructive dialogue” with Beijing.

There is a growing consensus in the European Union that it is too dependent on China, and Brussels fears this makes it vulnerable to potential coercion and supply shocks.

The 27-nation bloc’s trade deficit in goods hit around 360 billion euros ($413 billion) last year, meaning Chinese exports sharply exceeded the EU’s.

During a two-hour summit dinner in Brussels, leaders chewed over how the EU could address the imbalance, and whether the bloc needed to boost its arsenal.

After talks ended early on Friday, an EU official said the leaders tasked the commission with continuing to engage “in a constructive dialogue with our main economic partners” but did not directly say China.

They also asked the executive “to develop and eventually complement the toolbox in the area of trade defense” and to make sure the EU has “all the instruments it needs to defend its interests and derisk”, the official said.

While EU capitals agree on a common diagnosis, the positions differ on the cure and several leaders on Thursday had called for dialogue as a priority.

Spanish Prime Minister Pedro Sanchez struck a more conciliatory tone than his counterparts before the dinner.

“We need friends, we need balanced relationships, we need to be pragmatic, and we need to build bridges both with major economies and potential allies, such as China,” Sanchez told reporters.

Following Trump’s playbook?

One way to beef up the EU’s arsenal could be creating a new tool to impose sector-specific tariffs such as chemicals or green tech — taking a page out of President Donald Trump’s playbook.

French President Emmanuel Macron last month called for a “European equivalent of Section 301” — the trade tool Trump has employed to set sweeping tariffs — arguing Europe’s “sovereignty is at stake”.

Germany has until now adopted a cautious posture because its economy is more exposed to potential retaliation, while Spain has sought to avoid tensions as it chases Chinese investment.

But Berlin appeared to be coming around to France’s way of thinking.

A German official said Berlin was “open” to new tools if they are necessary so long as they were “not targeted at specific recipients”.

German Chancellor Friedrich Merz, however, would not be drawn on China by reporters in Brussels.

Irish Prime Minister Micheal Martin said before the dinner he wanted to see “the shape and nature of any mechanisms” introduced but warned Europe had to make sure it understood the consequences.

The EU official did not comment on what any new tools would look like.

Concern about Chinese dominance is not limited to the EU.

Fears are rising in the West over Beijing’s control in the market for rare earth minerals used in everyday electronic appliances, and China was on the agenda of G7 talks in France this week.

Brussels often evokes the need for fair competition, pointing to the unfair advantage Chinese companies have because of massive state subsidies.

Between 2005 and 2024, Chinese firms received around three to eight times more government support than firms in the Organisation for Economic Co-operation and Development, according to the OECD, which called it “a conservative estimate”.

EU appetite for a fight?

Even as its resolve appears to be hardening, the EU has shown no appetite to trigger a broader trade war with China.

Fears over Chinese retaliation are not unfounded.

After the EU hit Chinese electric cars with higher tariffs in 2024, China imposed anti-dumping duties on European cognac.

And Beijing has vowed to hit back if the EU pushes through rules that would exclude certain products manufactured outside the bloc from public contracts.

Sefcovic has invited Chinese Commerce Minister Wang Wentao to Brussels later this month as the bloc still hopes it can prevent escalation through dialogue with China — but an EU official would not confirm the visit.

Source: AFP

18, June 2026

MECA Leicester hosts first-ever 3-Day Manyu cultural event ⁰

The Manyu Elements Cultural and Development Association (MECA) Leicester chapter made history on 12 June 2026 by hosting the first-ever three-day cultural festival dedicated to celebrating the rich heritage and traditions of the Manyu people in the United Kingdom.

Held under the motto “Unity, Togetherness and Peace,” the landmark event brought together members of the Manyu community and guests from across the UK for a weekend of culture, education, entertainment and development-focused discussions.

The festivities commenced on Friday, 12 June, with a vibrant cultural evening led by EKPE UK. The occasion was further enriched by captivating performances from Wanawawampke, Macuda UK, and the Dancing Duo Monikim Group of Leicester. The diversity of the participating groups reflected MECA Leicester’s commitment to promoting unity through cultural diversity and fostering stronger ties among Cameroonian communities in the diaspora.

One of the highlights of the evening was the “Manyu Kids Have Got Talent” showcase, which featured children performing live in various Manyu mother tongues. The performances left guests thoroughly impressed, not only by the children’s confidence and talent but also by their remarkable ability to communicate and perform in their ancestral languages. The showcase served as a powerful reminder of the importance of preserving cultural identity among younger generations.

The evening also featured an insightful and educational presentation by renowned Professor of Law, Sesekou Nelson Enonchong, who traced the origins of EKPE and explored its historical significance and enduring role within Bayang culture.

More than 250 guests were treated to an authentic culinary experience featuring some of Manyu’s most cherished traditional dishes, including NkụBétor, Squeezing, Fufu and Eru, and Tatchot Soup. The evening culminated in the unveiling of MECA Leicester’s new uniform, followed by a special cultural performance from the Leicester Monikim Group and a guest appearance by Ayuk the Artist.

The celebrations continued on Saturday, 13 June, with the signature Gala Night held at the magnificent Empire Hall in Leicester. The gala attracted approximately 350 guests and was organised under the theme: “A Bright Future for Manyu Division.”

In his welcome address, the President of MECA Leicester, Nfor John Bawak, expressed gratitude to all participating groups and organisations that answered the association’s invitation. He emphasised the importance of a united MECA UK in preserving, promoting and advancing the development of Manyu both in the diaspora and back home. He also highlighted the value of establishing the cultural weekend as an annual event rotating among MECA chapters across the United Kingdom.

As part of this vision, Nfor John Bawak formally passed the torch to Nfor Takang of MECA Coventry, inviting Coventry to host the next cultural festival in 2027. In accepting the challenge, Nfor Takang commended MECA Leicester, describing it as one of the strongest and most dynamic MECA chapters in the UK, while encouraging Leicester to consider hosting a future MECA UK national event within the next three years.

The gala also generated significant donations, which will support community development projects across the four subdivisions of Manyu over the next twelve months through initiatives coordinated by MECA Leicester.

The historic three-day celebration concluded on Sunday with a community barbecue and a final cultural showcase by MECA Leicester members. Guests were treated to a variety of expertly prepared barbecue delicacies, good music, and fellowship as the organisers thanked participants and visitors for their support and contribution to the success of the weekend.

The event not only celebrated the richness of Manyu culture but also demonstrated the power of unity, cultural preservation, and community collaboration in strengthening the bonds between Manyu people across the United Kingdom and beyond.

17, June 2026

Manyu Division: dancing chiefs compromised because of alcohol and sex ⁰

A few days ago, a video shot in Mamfe, Manyu Division in the South West Region of Cameroon in which a so-called Mamfe businessman, Richard Tabe Bisong, was bowing to the South West Governor, Okalia Bilai, like Angels do to God, went viral not because online communities thought it was pleasant to see but because a man who prides himself on his business intelligence was being reduced to a desperate conman in search of validation and protection from administrative officers.

Mr. Tabe Bisong who is being touted in Manyu Division as a successful cocoa exporter has been spraying money all over the place as if he never worked for that money.

While some people are hailing him for his financial success, calling him “financial waterfall” many others are very suspicious of his money.

Many people hold that Mr. Tabe Bisong, who is desperate for recognition, is supposed to be exporting cocoa beans to neighboring Nigeria, but over the last two years, the business of cocoa has run into a massive storm with cocoa prices hitting new lows.

A kilo of cocoa once sold for CFAF 6,000 but the last two years have been a disaster to many cocoa farmers who have seen their profit margins take a nosedive due to declining global demand for cocoa.

Manyu Division has been hit hard by the declining global demand for cocoa but one man continues to give the impression that cocoa is now the new “gold”.

But not many people are buying into his gimmick. Many hold that there is more to his business than meets the eye.

Manyu Division is in the grip of a massive devastating drug addiction crisis and anybody whose wealth cannot be accounted for, is considered a suspect.

It is alleged that Mr. Tabe Bisong is currently the highest ‘administrative authority’ in Manyu as he has already brought the government’s Senior Divisional Officer under his control. He is now seen in grandstands in the Division whenever there is an important event.

According to our sources in Mamfe, Mr. Tabe Bisong’s relationship with the Senior Divisional Officer for Manyu is a real cause for concern.

It is being rumored that Mr. Tabe Bisong took the Manyu Senior Divisional Officer (SDO) to China where the SDO went on a wild spending spree at Mr. Tabe Bisong’s expense.

Mr. Tabe Bisong’s behavior at the funeral of the SDO’s father’s funeral in the West Region where he lined up CFAF 10,000 bills for the SDO to walk on has not escaped the attention of the country’s secret service which is on the businessman’s trail.

It is also being rumored that Tabe Bisong may be exporting cocoa beans to Nigeria but may also be engaging in other unorthodox operations.

“Cocoa alone cannot deliver the type of money Tabe Bisong says he is making. He has been boasting that last year alone, he made CFAF 6 billion from his trade with Nigeria, but so far, there is no bank in the South West in general and Mamfe in particular that is holding Mr. Tabe Bisong’s money,” a resident of Mamfe said.

“We hear that the secret service is investigating his financial claims and that his relationship with senior administrative officers, including the South West Governor, is really under scrutiny,” the resident whose son has been overwhelmed by tramadol said angrily.

“The country’s administrative officials should not be seen with a man whose money carries multiple question marks. The people of Mamfe are concerned and they want answers to some of the issues confronting them, including the drug crisis that has killed some young men and destroyed many,” the father of three said, pointing to the demonstrations in Egbekaw-Mamfe against drug suppliers.

The bitter Manyu resident condemned what he saw in the video which is now known as the “Tabe Bisong comedy of desperation”, questioning why a man who claims to be making his money legitimately will be sucking up to administrative officers who are supposed to rise above behavior that is questionable.

The Manyu resident who spoke on condition of anonymity to our Manyu correspondent also took aim at the Chief of Okoyong who presided over the comedy of desperation staged by Mr. Tabe Bisong.

He questioned the role of some young Manyu traditional rulers, describing the Okoyong chief as corrupt and irresponsible leader due to his reckless behavior.

He added that with the exception of the Manyu paramount chief, Dr. Godson Oben, and some old self-respecting chiefs, most young Manyu chiefs constitute a syndicate of criminals whose real job is to have sex, abuse alcohol and dance in almost every occasion in Cameroon.

He called on the people of Manyu to know who to choose as their chiefs, stressing that most Manyu chiefs have transformed the Division into a location where every event is part of the moving feast of sex carefully crafted by these young traditional rulers.

He regretted that the behavior of these chiefs makes Cameroonians to hold that Manyu Division is a new mental asylum. The misbehavior of a few people who are supposed to be role models is hurting the Division.

These chiefs have had more than their fair share of free sex. The paramount chief needs to call them to order, the Mamfe resident said angrily, adding that these ‘dancing chiefs and alcoholics’ are devaluing the people of Manyu and their culture.

“A chief is supposed to be an embodiment of respect. He is supposed to be out of the public eye. He is supposed to be reflecting on how to make his village a better place. How can someone who spends time drinking, dancing and sleeping in women’s thighs ever have enough time to come up with ideas which can transform the destiny of his people?,” he quipped.

Manyu is in trouble, he said, adding that if a chief is compromised because of alcohol and sex, how can he really work for his people?, he asked.

Many people are really angry with the behavior of some of the Manyu chiefs but they do not have the courage to call out these people who are spreading moral decadence and pain in our Division, he said.

We need somebody to help us. A Manyu Chiefs’ conference needs to be held to discuss some of these issues. Our chiefs have to embrace hard work. They must walk away from alcohol and casual sex. Their people are losing confidence in them. They must display behavior which reflects their statuses, he concluded.

By Soter Tarh Agbaw-Ebai

17, June 2026

Kenya Airways suspends Cameroon flights ⁰

From June 19, Kenya Airways will suspend all flights to Douala, Cameroon, as part of efforts to optimise its network.

Affected passengers will be allowed to apply for a refund before August 31.

They may also change their booking to a different routing. The new travel dates must be made and tickets reissued by August 31.

Passengers to and from Douala may reroute on Ethiopian Airlines or Air Côte d’Ivoire.

Culled from Travelnews

17, June 2026

Cameroon, Nigeria sign border security pact ⁰

Nigeria and Cameroon have signed a Memorandum of Understanding on bilateral defense cooperation, with a focus on securing their shared southern border and strengthening maritime security in the Gulf of Guinea.

The agreement was signed in Yaoundé on Wednesday by Nigeria’s Minister of Defense, General Christopher Musa (retd.), and Cameroon’s Minister Delegate at the Presidency in charge of Defense, Mr Joseph Assomo, following two days of deliberations by defense and security experts from both countries.

According to a statement on Wednesday by Musa’s media aide, Leah Katung-Babatunde, the MoU establishes a framework for cooperation across terrestrial and maritime domains and covers intelligence sharing, operational coordination, logistics support, joint military training, personnel exchange programmes, and collective response mechanisms to emerging security threats.

“In a major step toward regional stability, the Honourable Minister of Defence of the Federal Republic of Nigeria, General Christopher Musa (retd.) OFR, today signed an MoU with the Minister Delegate at the Presidency in charge of Defence of the Republic of Cameroon, Mr Joseph Assomo, to deepen bilateral defence cooperation and secure their shared southern border.

“The signing ceremony in Yaoundé concluded two days of intensive deliberations by defense and security experts from both nations. The agreement establishes a modernised framework to counter emerging threats across both terrestrial and maritime domains.

“The Memorandum of Understanding establishes a renewed framework for cooperation in securing the terrestrial and maritime domains along the Nigeria–Cameroon southern border and reinforces the long-standing defence relationship between both nations.

“Key areas highlighted during the engagements included enhanced operational coordination, intelligence sharing, logistics support, joint military training, personnel exchange programmes, and strengthened mechanisms for collective response to emerging security challenges,” the statement partly read.

Speaking at the signing ceremony, Musa said the agreement “would henceforth provide a structured framework for military cooperation and operations between both countries and further institutionalise collaboration in addressing common security concerns.”

Both sides also discussed the operationalisation of the Combined Maritime Joint Task Force, described as a strategic platform for enhancing maritime security and safeguarding economic interests within the Gulf of Guinea, where Nigeria and Cameroon are key stakeholders.

On defense industry cooperation, General Musa noted that “one of the enduring challenges confronting African defence capability development has been limited indigenous production of military hardware,” and stressed the need for stronger regional industrial partnerships. He highlighted opportunities under Nigeria’s Defence Industries Corporation framework and reaffirmed Nigeria’s openness to collaboration in defence manufacturing, technology transfer, research and innovation.

Assomo, in response, expressed interest in advancing cooperation in defense technology and confirmed that a formal proposal framework is being finalised to concretise bilateral arrangements in that area.

The signing marks what both governments described as a pivotal milestone in Nigeria–Cameroon relations, reinforcing their shared commitment to regional peace and sovereignty.

The signing comes days after armed Cameroonian soldiers allegedly invaded the Danare community in Boki Local Government Area of Cross River State, causing widespread panic.

Culled from Punch Nigeria

17, June 2026

Cameroon to expire in December ⁰

After careful observation of the 2026 GCE leaks, recurring examination scandals, corruption allegations, administrative confusion and the national talent for turning every crisis into a committee meeting, the Republic of Cameroon is now approaching its expiration date. Please check the label beneath the national coat of arms for details.

The latest GCE scandal saw examination papers circulating online before candidates entered exam halls, forcing authorities to postpone several exams. Officials described it as a serious breach of integrity and internal failure. At this point, the exam papers seem to know the questions before the students do.

One candidate reportedly opened his exam booklet and shouted, “Wait, this is the old leak! Where is the updated version?”

Another student complained that he studied honestly and therefore entered the examination hall at a competitive disadvantage.

Meanwhile, corruption in Cameroon has become so experienced that it no longer walks—it teleports. When a scandal emerges, everyone is shocked, investigations are launched, statements are issued and somehow the scandal graduates with distinction while accountability fails the resit.

The nation has become a place where roads are under construction longer than some university degrees! Public projects age before completion! Committees are created to investigate why previous committees failed.

Every GCE leak is blamed on “a few bad individuals,” despite the fact that the few bad individuals apparently number in the thousands.

The GCE was once a test of knowledge. Today it risks becoming a test of internet speed. Students revise textbooks while others revise WhatsApp groups. Teachers prepare lessons while fraudsters prepare answer keys. Parents pray for success while officials pray that the next leak waits until after the press conference.

If things continue at this rate, Cameroon may not expire from natural causes. It may simply receive a notification:

“System Error 404: Governance Not Found.”

Yet the tragedy behind the joke is real. Examination leaks undermine trust, punish honest students and weaken confidence in educational institutions. Recent reports note that repeated leaks and fraud concerns have raised serious questions about the credibility and security of national examinations.

If corruption remains permanent, accountability remains temporary and every scandal becomes tomorrow’s forgotten headline, then the nation risks something worse than expiration: getting used to dysfunction. And this is a far more dangerous disease than any exam leak.

By Soter Tarh Agbaw-Ebai

17, June 2026

Yaoundé: US ambassador signals shift from aid to investment ⁰

The United States is stepping up efforts to expand trade and investment ties with Cameroon, positioning itself as a business partner rather than a traditional aid donor. At a conference organised by the American Chamber of Commerce in Cameroon (AmCham) during the PROMOTE 2026 Enterprise Fair in Yaounde on June 16, John Robinson, Chargé d’Affaires at the US Embassy in Cameroon, said Washington is prioritising investment, financing and private-sector partnerships to drive economic growth in Cameroon and across Africa.

Robinson said US agencies continue to support trade, export promotion, project financing and entrepreneurship while encouraging American companies to pursue opportunities in Cameroon through partnerships with local businesses. He added that Washington’s approach to commercial diplomacy in Africa centres on mutually beneficial economic partnerships designed to stimulate sustainable growth and create opportunities for businesses on both sides.

“Washington’s vision for commercial diplomacy in Africa is clear. We want to be a reliable partner for economic growth, one that emphasises mutually beneficial trade, investment and technology transfer rather than aid. We recognise that a thriving private sector is the engine of economic growth,” Robinson said.

He noted that agencies including the US Commercial Service, the Export-Import Bank of the United States, the International Development Finance Corporation (DFC) and the Small Business Administration remain active in supporting entrepreneurs, facilitating trade and connecting American companies with opportunities across Africa.

According to Robinson, the US Embassy works closely with AmCham Cameroon to strengthen the country’s business ecosystem and create conditions that allow both American and Cameroonian companies to expand their operations. He said the objective is to help local firms benefit from American expertise, technology and investment while encouraging US companies to increase their presence in the Cameroonian market.

Cameroon positioned for expanded commercial partnerships

Robinson described Cameroon as a strategic economic partner and said the participation of American businesses at PROMOTE reflected growing interest in the country’s commercial opportunities. He encouraged Cameroonian firms to engage with AmCham and the embassy’s commercial services to explore programmes designed to support expansion into new markets and investment partnerships.

“AmCham’s presence sends a clear signal that American companies are ready to compete, partner and succeed in Cameroon. Together, we can build a stronger and more dynamic US-Cameroon economic partnership,” Robinson said.

Speaking to reporters after the conference, AmCham Cameroon President Laure Djoukam said several US agencies continue to provide support for bilateral trade and investment through financing facilities, business matchmaking and commercial promotion programmes.

She cited the DFC’s role in financing projects and joint ventures involving American and Cameroonian partners, as well as support from the Export-Import Bank for projects involving equipment and products sourced from the United States. Djoukam noted that while some requirements have evolved under the current US administration, particularly regarding American content in supported projects, the agencies remain actively engaged in promoting trade.

“We have concrete achievements. Companies have been established following trade missions and business missions, particularly in agribusiness, processing and poultry production. There is also activity in the energy sector and a major hotel project being developed through American financing,” Djoukam said.

She pointed to developments in agribusiness, poultry production, energy and hospitality as examples of investments linked to business missions and commercial exchanges between the two countries. Among the projects cited was the construction of a major Radisson hotel supported through American financing.

While Cameroon remains outside the African Growth and Opportunity Act (AGOA) framework, business leaders at the conference expressed optimism that efforts to restore the country’s eligibility could further strengthen trade relations. In the meantime, officials say ongoing investments in key sectors suggest that commercial engagement between the United States and Cameroon continues to expand through private-sector partnerships, financing arrangements and business development initiatives.

Source: Business in Cameroon

16, June 2026

Yaoundé earns CFA15 billion from Chad Oil Pipeline transit fees in 5 months ⁰

Cameroon collected CFA15.1 billion in transit fees from the transport of Chadian crude oil between January and May 2026, according to data reviewed by Business in Cameroon.

Monthly revenue reached CFA2.94 billion in January, CFA3.52 billion in February, CFA2.85 billion in March, CFA2.83 billion in April, and CFA2.95 billion in May. The latest figures extend a positive trend recorded earlier in the year. By the end of April, transit fees had already generated CFA12.15 billion for the Cameroonian Treasury, up CFA1.2 billion, or 11%, from the same period in 2025.

According to the Petroleum Products Pricing Stabilization Fund (CPSP), the increase reflects sustained crude oil volumes moving from Chad’s oil fields to Cameroon’s Atlantic coast through the Chad-Cameroon pipeline.

Between January and April 2026, about 16.1 million barrels of crude oil were transported through the 1,080-kilometer pipeline. As a landlocked country, Chad relies heavily on the pipeline to export its crude oil to international markets. The oil is transported to the offshore terminal at Kribi in southern Cameroon, where it is loaded onto tankers for export. In return for the use of its territory, Cameroon receives a transit fee on every barrel shipped through the pipeline. The fee currently stands at $1.321 per barrel.

The current rate is the result of negotiations launched by Cameroon in 2013 to secure periodic increases in the tariff. When the pipeline entered service, the transit fee was set at just $0.41 per barrel. The rate was subsequently revised upward in 2013 and again in 2018, reaching its current level.

Under the agreement between the two countries, another review of the tariff was expected to take effect from October 1, 2023. As crude volumes continue to move through the pipeline, the issue of a new increase in transit fees could return to discussions between Yaoundé and N’Djamena.

Source: Business in Cameroon

16, June 2026

Most stocks rise, oil flat following peace deal-fuelled rally ⁰

Eyes are now on developments ahead of Friday’s signing ceremony in Switzerland, which will bring an end to more than three months of a war that has sent shockwaves through energy markets and sent global inflation soaring.

US President Donald said ships were again moving through the strait and it would be “completely open” by Friday, while Iranian media said three oil tankers and two cargo ships had passed through the area that had been subject to a US naval blockade.

Tehran blockaded the waterway after the United States and Israel launched their war against Iran on February 28. The United States then blocked shipping to and from Iranian ports.

A senior US administration official, however, said Trump, Vice President JD Vance and Iran’s parliamentary speaker Mohammad Bagher Ghalibaf had already signed the text electronically.

“Investors are increasingly pricing in a lasting improvement in the geopolitical backdrop,” wrote Fiona Cincotta at City Index.

“However, with several details yet to be finalised, any setbacks could trigger a sharp market reaction. For now, confidence is growing that the Strait of Hormuz will reopen and energy supplies will normalise.”

She added that “the key question is not whether a deal is reached, but how quickly oil exports and production can recover”.

“Investors will also be watching compliance with the agreement and the pace of supply normalisation,” she added.

Oil industry watchers caution that market conditions will likely be tight for a period of weeks or months. Fresh US Department of Energy data showed strategic oil stockpiles sank last week to their lowest level since 1983.

Shipping groups warned Monday that it was too soon to safely resume sailing.

The deal sparked a huge relief rally across global equities, with the Dow on Wall Street hitting a record high, while crude prices plunged almost five percent.

The optimism remained largely intact Tuesday, with both main crude contracts barely moved and stocks mostly up.

Seoul led gains once more, surging more than one percent — a day after piling on more than five percent — helped by fresh advances in the tech sector.

That came on the back of another blockbuster day for Elon Musk’s SpaceX, which jumped almost 20 percent for the second day in a row after listing Monday.

Shanghai, Singapore, Taipei, Wellington and Manila also rose, though Tokyo, Hong Kong and Sydney were down.

There was little reaction to news that Chinese retail sales shrank last month for the first time since 2022.

Investors are keeping close tabs on the Bank of Japan’s policy meeting, where it is expected to hike interest rates to a 31-year high later in the day.

Key figures around 0230 GMT

Tokyo – Nikkei 225: DOWN 0.1 percent at 69,234.42 (break)

Hong Kong – Hang Seng Index: DOWN 1.4 percent at 24,507.31

Shanghai – Composite: UP 0.1 percent at 4,099.70

West Texas Intermediate: FLAT at $80.77 a barrel

Brent North Sea Crude: FLAT at $83.19 a barrel

Euro/dollar: DOWN at $1.1586 from $1.1592 on Monday

Pound/dollar: DOWN at $1.3402 from $1.3416

Dollar/yen: DOWN at 160.15 yen from 160.30 yen

Euro/pound: UP at 86.45 pence from 86.40 pence

New York – Dow: UP 0.9 percent at 51,671.03 (close)

London – FTSE 100: DOWN 0.4 percent at 10,430.62 (close)

Source: AFP

16, June 2026

Iran deal: the cards are now in Tehran’s favour ⁰

The US president’s 80th birthday began with a bang that kicked off on social media, resonated in the roars on the White House South Lawn as fighters pummeled each other in a cage, and left Middle East experts reeling as they examined the geostrategic impact of Donald Trump’s birthday gift to the world.

The president had made it known that he wanted an Iran “peace deal” on his birthday, come what may. So, when Israel kicked off the day with strikes in Dahiyeh, the Hezbollah stronghold in the southern suburbs of Beirut, he was incensed with Prime Minister Benjamin Netanyahu.

“Why did Bibi have to do a fucking attack,” Trump fumed in an interview with US news site Axios. “He has no fucking judgement,” he added.

By the end of the day, the storm had settled. Pakistani Prime Minister Shehbaz Sharif took to X to announce a deal had been reached, which was followed by a Trump post on Truth Social declaring “The Deal” was “now complete”. The 55-word message stated that the US president had “authorized” the opening of the Strait of Hormuz and that “ships of the world” could “start their engines”.

This was just as things were before the US and Israel started the Iran war, when the Strait of Hormuz was open for business with 20 percent of the world’s oil and natural gas passing through the critical waterway.

‘Back to square one’

Now that the celebrations on the South Lawn have wrapped up, the international community is looking the gift horse in the mouth and asking who got the biggest party favor at the end of the day.

Trump’s Sunday night announcement was “both a birthday gift for himself and a gift for the Iranian regime”, said Karim Emile Bitar, international relations professor at Beirut’s Saint Joseph University and lecturer at Paris-based Sciences Po university.

“It is quite ironic that the main accomplishment of this deal is reopening a strait (the Strait of Hormuz) that was wide open four months ago. It showed that Iran found out that the control of the strait could be a deterrent, arguably even more important than a nuclear deterrent, that they could have the entire world’s economy basically slowed down by simply closing this trade,” Bitar noted.

The details of what Trump calls “the deal” and diplomats call “the Islamabad Memorandum of Understanding (MoU)” will not be released before Friday. But news reports based on multiple sources say the agreement provides for a 60-day cessation of hostilities during which the two sides will negotiate a final peace deal.

While Trump’s message on Sunday declared the Strait of Hormuz would be opened “toll free”, senior administration officials had no details on the time schedules.

In an interview with CNBC television on Monday, Vice President JD Vance was asked if the MoU provided a toll-free opening of the waterway for just the initial 60-day period. Vance replied that, “Our expectation is that the strait is going to be opened in a toll-free way for the long term, and that’s the sort of thing that we’re going to figure out in these technical negotiations.”

Trump on Monday declared that many ships loaded with oil are starting to pass through the Strait of Hormuz, calling it “totally safe, secure and pristine”. But maritime trackers have yet to show an uptick in traffic since the deal was announced. Minesweeping operations are expected to last several weeks, while France and the UK prepare a support mission to help the reopening of the vital waterway.

More than a century after US writer and satirist Mark Twain wryly noted that, “God created war so that Americans would learn geography,” the Trump administration may have finally had a crash course in geostrategic waterways. But critics say the lesson came too late for Washington, handing Tehran a win as the war dragged past the three-month mark.

“Over the three-month trajectory, what Iran showed is that, yes, they were the underdog, attacked by two nuclear powers with military supremacy. But they also had their own cards to play,” said Negar Mortazavi, senior fellow at the Washington-based Center for International Policy, in an interview with FRANCE 24.

“The defining point in this war is the strategic geographic advantage that Iran has over the Strait of Hormuz. And it seems like President Trump and the US just couldn’t get them to reopen the strait with force. This brought [the US] to the negotiating table and, essentially, back to square one, because the Strait of Hormuz wasn’t even a problem before the war.”

First US president to negotiate directly with Iran

In the past, the US has held only indirect, mediated talks with the Islamic Republic, such as the negotiations leading up to the signing of the Joint Comprehensive Plan of Action (JCPOA) – the 2015 nuclear deal Iran signed with six world powers – during the presidency of Barack Obama.

But Washington has never had to negotiate with Iran for peace, noted FRANCE 24’s Noga Tarnopolsky, reporting from Jerusalem.

“No previous American president has tried to make peace with the Islamic Republic of Iran. It was never on the table, there was never an actual war between the United States and Iran necessitating a peace. Before this, Iran has always been viewed as a threshold nuclear state that is increasingly dangerous. That was the aim of Obama’s Joint Comprehensive Plan of Action, to try and curb Iran’s nuclear ambitions. It didn’t go beyond that,” Tarnopolsky explained.

The period between the 2015 signing of the JCPOA and Trump’s 2018 withdrawal from the nuclear deal during his first presidency were “the only three years when Iran’s nuclear program was held back and was scrutinized by international authorities”, Tarnopolsky said.

Details of Iran’s nuclear commitments under the terms of the new Islamabad MoU have been vague. In his comments to the press, Trump has noted that “the Iranian enriched uranium file will be dealt with” at a later date. The US president also stressed that the nuclear issue will be the focus of in-depth and direct negotiations during the 60 days following the signing of the agreement.

Iran has long maintained that its nuclear program was for civilian energy purposes only, and under the JCPOA its enrichment activities were limited to 3.67 percent – a level sufficient to power nuclear reactors, but far short of the 90 percent needed for weapons. After Trump withdrew from the agreement, Iran announced it would begin enriching to 60 percent.

Under the JCPOA, Tehran also agreed to nuclear inspections by the IAEA, the UN’s nuclear watchdog, and had begun complying with shipping parts of its uranium stockpile to Russia, which was also a signatory to the 2015 nuclear deal.

The Iran war has not resolved the critical nuclear non-proliferation issue, Bitar noted, adding that the current deal leaves the world worse off.

“The Iranians did not make any concessions so far. They just reiterated what they had said for the past 20 years, and that was already clearly written in the JCPOA,” he said.

“We’re back to the original sin of Donald Trump: out of obsession or jealousy [of] Barack Obama, tearing down an agreement that was much better negotiated – which was not just a bilateral US-Iranian agreement but that also involved Europe, the United Nations, Russia and China. That we have reached this stage of America showing its impotence is, to a large extent, because Donald Trump committed this major mistake of tearing up the JCPOA in 2018.”

‘Good old protection racket’ of Gulf states

Iran’s nuclear ambitions were a major threat to the Gulf states and a key driver of the US security umbrella for oil-rich Sunni monarchies facing a giant Shiite power across the Persian Gulf.

The Iran war has forced the Gulf states to hedge their security bets as missiles from Tehran wreaked havoc on their economies. Earlier this month, Reuters reported that the United Arab Emirates agreed to pay Iran billions of dollars in exchange for a de-escalation.

Sources told Reuters that the UAE had agreed to release a total of $10 billion, more than $3 billion of which had already been delivered. While there was no clarity on whether the funds earmarked for the transfers belong to the UAE or originate in long-blocked Iranian accounts in the UAE banking system, the report noted that Iranian attacks on Emirati facilities had decreased over the past few weeks.

“Deep down, there is no love lost between the Iranian and Emirati regimes. But it’s definitely true that the UAE realized that their security and economic development was heavily dependent on having better relations with Iran. So they seem to have succumbed to the good old protection racket,” said Bitar.

The lifting of Western sanctions and access to Iran’s frozen funds abroad have been key demands of the Islamic regime. Iran’s Mehr news agency reported that the MoU stipulates the release of $24 billion in frozen Iranian funds during the 60-day negotiation period. The report has not been confirmed by Iranian or US authorities.

‘Victim of American amateurism, Iranian cynicism and Israeli hubris’

While the international community has been left in the dark about much of the details of the Islamabad MoU, the one issue that Pakistani PM Sharif has confirmed is that the cessation of hostilities covers all fronts, “including Lebanon”.

But Sharif has been here before. On April 8, just hours after Sharif declared that a Pakistan-mediated US-Iran ceasefire included Lebanon, the Israeli military conducted massive strikes across Lebanon, offloading more than 100 bombs in just 10 minutes and killing more than 360 people under Operation Eternal Darkness. The Lebanese called it “Black Wednesday”.

Trump’s expletive-riddled birthday rant against Netanyahu on Sunday underscored his fears that Israel, which was not involved in the MoU negotiations, could scupper the latest agreement.

“This deal has been considered unacceptable by Israel. Israel seems determined to continue its occupation of south Lebanon. It is an electoral season in Israel,” said Bitar, referring to Israeli legislative elections being held later this year. “So, I very much doubt that Netanyahu can withdraw from Lebanon. At the same time, this deal does not seem to have imposed on Iran any conditions to stop financing and supporting Hezbollah. So, Lebanon could once again end up being the victim of American amateurism, Iranian cynicism and Israeli hubris.”

The biggest losers are the Iranian people, who rose up in mass protests against the regime in December-January. Five months after Trump told Iranians who were protesting that “help is on its way”, the regime today is more hardline than it was before the start of the war, experts say.

“This really solidified the regime and their argument that Iran is the only country in the region that can fight two superpowers. And they were able to defend the country’s sovereignty, independence, the system and bring the world’s [foremost] superpower to the negotiating table in three months,” said Mortazavi.

Israel’s initial decapitation strikes at the start of the war might have killed Ayatollah Ali Khamenei, but his son and successor, Mojtaba Khamenei, has close links to Iran’s hardline Islamic Revolutionary Guards Corps (IRGC), whose powers have increased since the February strikes.

“The regime in Iran is more emboldened and more hardline, consolidated by an IRGC that is essentially governing in a police state fashion,” said Tara Kangarlou, adjunct professor at Georgetown University and author of “The Heartbeat of Iran”, in an interview.

“Life for ordinary Iranians in Iran is worse than how it was before the war against a collapsed economy. They’re left with a younger, more emboldened Khamenei regime. This is not what they wanted and asked the world for. The regime has stayed and Donald Trump is presumably interested in making a peace with this same regime. The price has been paid by ordinary people.”

Source: France 24