• US blockade: Vice President JD Vance accused Iran of “economic terrorism” by essentially closing the Strait of Hormuz. He defended the US blockade of Iranian ports as an equal response.
• US-Iran talks: The US and Iran are still communicating, a US official told CNN, after peace talks in Pakistan failed. US officials are discussing details for a potential second in-person meeting with the Iranians, a source said.
• Israel-Lebanon talks: Diplomats are expected to begin negotiations today under US supervision in Washington, DC. Lebanon’s president hopes the meeting will result in a ceasefire, even as Iran-backed militant group Hezbollah called on Beirut to reject the talks.
The fallout of the US and Israel’s war with Iran is poised to cost the Asia-Pacific economy hundreds of billions of dollars and plunge millions into poverty, according to a United Nations report.
Military escalation in the Middle East could cause output losses of between $97 billion and $299 billion in the Asia Pacific, due to rising costs for transportation, electricity and food, according to an estimate from the United Nations Development Programme in a report released Tuesday.
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