Reuters Weekend Briefing.

"Trump threatens hit on Iran's main oil-export terminal."

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Weekend Briefing

From Reuters Daily Briefing   By Robert MacMillan, Reuters.com Weekend Editor

Welcome to the Weekend Briefing, where we’re bringing you the latest news from the Middle East. But first, consider Paraguay, something you probably don’t do often. It’s one of 12 countries that recognize Taiwan and is its only diplomatic ally in South America. China is trying to change that. Our reporters discuss the business and politics of the Academy Awards while Culture Current interviews Kleber Mendonça Filho about his hit film “The Secret Agent” ahead of the Academy Awards. This week’s edition of City Memo explores Seattle - and it's making me hungry.

Trump threatens hit on Iran’s main oil-export terminal   Planet Labs PBC Kharg Island: Donald Trump said the U.S. would strike the export terminal for 90% of Iran’s oil shipments if Tehran kept attacking vessels in the Strait of Hormuz. He also said the U.S. “obliterated” military targets on the island. Iran’s military said it would respond by hitting facilities owned by oil companies cooperating with the U.S. in the region. U.S. intelligence suggests that Iran’s leadership is not at risk of collapse any time soon. Strait of Hormuz: Iran is holding the world’s main oil lifeline as a hostage to counter U.S. and Israeli military superiority, causing the biggest supply disruption in history. Read about the Greek ship owners who are risking the passage anyway. Oil futures prices remain high even after the U.S. issued a 30-day waiver for countries to buy sanctioned Russian oil stranded at sea. That move and a record release of oil stockpiles by world governments will not end the pain of U.S. drivers, analysts said.

Iran war bedevils travel worldwide Grounded: The war is driving up airline prices, squeezing capacity and throwing holiday plans into disarray as Iran targets Gulf states that are home to major airport hubs. The rising cost of jet fuel is threatening airlines that usually rely on hedging contracts to protect against oil price spikes. Air freight rates rose more than 70% on some routes since the start of the war. Roundup: The U.S. military said it elevated an investigation into a strike on an Iranian girls’ school that Iran says killed 168 children after media reported that the U.S. was likely responsible. Tehran threatened Iranians living abroad with legal penalties if they express support for the U.S. and Israel. New Supreme Leader Mojtaba Khamenei is wounded and likely disfigured, Defense Secretary Pete Hegseth said.

Zelenskiy seeks Europe’s reassurances Allies: Ukraine’s president said the U.S. decision to ease Russian oil sanctions would not help to end its war with Russia. German Chancellor Friedrich Merz’s comments suggested that the move surprised Europe. Hungary returned armored bank vehicles to Ukraine while keeping $82 million it took off seven Ukrainians. Zelenskiy called it theft. The far north: NATO’s latest drills in the Arctic are placing more emphasis on civilians supporting the military as tension rises over Trump’s coveting of Greenland. Our correspondent reported from a training exercise related to the drills in Narvik, Norway. Canada is boosting its Arctic defenses as it tries to decrease its reliance on the U.S.

Israeli settler violence in West Bank rises Taking advantage: Settlers in the occupied zone are using curbs on movement imposed because of the Iran war to attack Palestinians, rights groups and medics said. Israel’s military dropped charges against five soldiers accused of torturing a Gaza detainee. Donald Trump’s peace plan for Gaza is on hold because of war. Hate crimes and violence: Attacks by Islamic State supporters on a synagogue and daycare center in Michigan and Old Dominion University in Virginia added to concerns about attacks on U.S. soil during the war. Congressional Republicans voiced anti-Muslim rhetoric as incidents of Islamophobia rise in the U.S. An explosion hit a synagogue in the Belgian city of Liège and Dutch police arrested four men after a synagogue attack in Rotterdam. An explosion damaged a Jewish school in Amsterdam. Police arrested three brothers and their mother over the bombing of the U.S. embassy in Oslo.

Meta plans big layoffs AI strikes again: Facebook’s parent company needs to offset artificial-intelligence spending and is planning to seek more efficiency through AI-assisted workers, sources said. The cuts could affect 20% of Meta’s workforce, the sources said. It employed nearly 79,000 people as of the end of 2025. A buying opportunity: Trump bought more than $1.1 million of Netflix bonds as the company unsuccessfully fought Paramount Skydance to buy Warner Bros Discovery – and while he talked Netflix down in the press. We don’t know if he made or lost money on the bonds because a filing does not disclose if or when he sold the bonds.

Before I forget… Drone strikes by Haitian security forces targeting gangs have killed more than 1,200 people since last March, Human Rights Watch said. A federal judge blocked the Justice Dept.’s subpoenas issued as part of its criminal investigation into Fed Chair Jerome Powell. France holds local elections on Sunday, and the far right is pushing hard on security. This story from Marseille is worth your time. So is this one, especially for those of you who have nearly been run over by Paris’ enthusiastic cyclists. Venezuelan students are speaking up after years of enforced silence under Nicolas Maduro’s rule. Minneapolis has settled into more familiar rhythms, but the lasting damage that ICE caused lingers. Police across Southeast Asia are dealing with a rise in the number of teenagers who are plotting violence inspired by white supremacists. The Pyongyang marathon is off, no reason given. North Korea-China train service is back on after being shut down during the COVID-19 pandemic. Bonobos have a reputation for peace, love and lots of sex in contrast to the more belligerent chimpanzees. That reputation isn’t entirely valid, a study suggests.

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