In March, China decreased its holdings of US Treasuries by $18.9 billion, falling to third place among foreign holders behind Britain. This reduction occurred before April’s sharp sell-off triggered by President Trump’s tariff announcements. Britain surpassed China to become the second largest foreign holder of US Treasuries, increasing its holdings by $29 billion. The overall foreign holdings of US Treasuries reached a record high of $9.05 trillion in March.
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Growing evidence suggests Hamas leader Mohammed Sinwar is dead following an IDF airstrike targeting a tunnel hideout. While the IDF awaits official confirmation from Hamas or its own intelligence, Defense Minister Katz confirmed rising indications of Sinwar’s demise to the Knesset. The potential death of Sinwar, along with other key Hamas figures including Rafah Brigade commander Mohammed Shabana, leaves Az-adin-al-Hadad as the likely successor. This significant development comes amidst the ongoing hostage crisis.
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Denmark’s 26th military aid package for Ukraine totals $598 million, encompassing artillery, ammunition via a Czech initiative, fighter jet equipment, and enhanced training capabilities. Funding is sourced from the Ukraine Fund and the European Peace Facility, extending support through 2028. This contribution bolsters Ukraine’s ammunition supply and strengthens its long-term defense capacity. The aid reflects Denmark’s continued commitment to supporting Ukraine both militarily and diplomatically.
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Following a 10-week blockade, Israel announced it will permit a limited amount of food into Gaza to prevent a starvation crisis, a decision predicated on the IDF’s recommendation and the ongoing military offensive, Operation Gideon’s Chariot. This action comes amidst international pressure and dire warnings from aid agencies regarding widespread famine. The Israeli government also stated it would control humanitarian aid distribution to prevent Hamas from exploiting it. However, the ongoing military operation continues to inflict heavy casualties and damage, including the targeting of hospitals, despite negotiations for a ceasefire in Qatar.
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Following Russia’s detention of the Green Admire oil tanker in internationally agreed waters, Estonia will reroute maritime traffic to and from Sillamae entirely through its own territorial waters. The Greek-owned, Liberian-flagged tanker, carrying shale oil, was seized while transiting a previously established route through Russian waters. This action, unprecedented in the region, prompted Estonia to inform NATO allies and underscores Russia’s unpredictable behavior. The new route avoids Russian waters altogether, mitigating future risks to Estonian maritime traffic.
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In Rome on May 18th, Ukrainian President Zelenskyy held a productive meeting with US Vice President JD Vance and Secretary of State Marco Rubio. The discussion centered on the unrealistic Russian demands presented during Istanbul peace talks, with Zelenskyy emphasizing Ukraine’s commitment to genuine diplomacy and a complete, unconditional ceasefire. He highlighted Russia’s lack of negotiating authority and ceasefire violations, underscoring the need for continued international pressure to compel Russia to end the war. The meeting also covered sanctions, trade, defense cooperation, and prisoner exchanges.
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China has levied a 75% anti-dumping tax on US imports of polyformaldehyde copolymers, a crucial engineering plastic, while also imposing lower tariffs on imports from the EU, Taiwan, and Japan. This action, following a recent tariff truce, highlights persistent trade friction between the US and China. The Ministry of Commerce cited dumping and resultant harm to domestic industry as justification. The widely used plastic is a lightweight alternative to metals in various applications.
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Rep. Don Bacon confirmed a one-day pause in U.S. cyber operations against Russia during February 2024 negotiations to end the war in Ukraine, contradicting previous Pentagon denials. This pause, typical during such negotiations, was first reported by The Record and later confirmed by multiple U.S. officials to CBS News. The Pentagon’s subsequent denial, issued via its newly created rapid response X account, was labeled a lie by Rep. Eugene Vindman. Bacon’s statement marks the first on-the-record acknowledgment of the directive.
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Following a meeting where Zelenskyy urged a full and unconditional ceasefire, international efforts to end the conflict intensified. While Russia’s recent drone attacks involved significant decoys, Western leaders, including Trump who plans to speak with both Putin and Zelenskyy, are coordinating to pressure Russia into ceasing hostilities. A ceasefire is viewed as the crucial preliminary step before considering further options, with the deployment of peacekeeping troops currently deemed premature.
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Following Pope Leo XIV’s inaugural mass, Ukrainian President Zelenskyy and First Lady Zelenska met with the Pontiff, marking his first audience with a foreign leader. Discussions centered on the war in Ukraine, focusing on potential Vatican mediation, prisoner releases, and the repatriation of deported children. Zelenskyy expressed gratitude for the Vatican’s potential role in peace negotiations and highlighted the Pope’s symbolic importance in fostering a just peace. The meeting also addressed humanitarian concerns, with Zelenska thanking the Vatican for medical aid and requesting continued cooperation. The Pope reaffirmed the Vatican’s support for Ukraine.
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John Q. Hosedrinker