Iran and European powers are set to meet in Istanbul to discuss whether to trigger a "snapback" mechanism under the 2015 nuclear deal, which would reinstate UN sanctions on Iran if it fails to comply. The talks come after US President Trump said the US was "getting close" to a deal that could avert military action against Iran. Iranian Foreign Minister Araghchi warned that such a stance risks a global nuclear proliferation crisis, while China expressed support for a diplomatic settlement and opposition to unilateral sanctions. The US has proposed a deal with Iran, but Tehran's leadership denies receiving it.
https://www.victoriaadvocate.com/news/nation/iran-european-powers-hold-nuclear-talks-in-turkey/article_f00b7b38-4d90-5517-b228-ba43f756f6ca.htmlIran's Deputy Foreign Minister Kazem Gharibabadi warned of "irreversible" consequences if Britain, France, and Germany reimpose UN sanctions on Iran, which were lifted under the 2015 agreement. The warning came after a meeting in Istanbul where Gharibabadi discussed the latest status of indirect nuclear negotiations with Abbas Araghchi, Iran's Foreign Minister. US President Donald Trump had previously torpedoed the deal by unilaterally abandoning it in 2018 and reimposing sanctions on Iran's banking sector and oil exports.
https://www.eurasiantimes.com/iran-european-powers-hold-nuclear-talks-in-turkey-after-tehran-warned-of-irreversible-consequences/In the third month of its blockade, Israel's aid to Gaza has left Palestinians in desperate need of food, with nearly half a million facing possible starvation and one million struggling to get enough to eat. In northern Gaza, people lined up at charity kitchens set up on rubble, including Um Abed, who waited for hours with 20 family members but went home empty-handed for the second day. The Israeli government has denied a food shortage, blaming Hamas for hoarding supplies, while Human Rights Watch warns that Israel's actions could amount to genocide due to its plan to seize Gaza and destroy civilian infrastructure.
https://krcgtv.com/news/nation-world/airstrikes-in-gaza-leaves-54-dead-as-hopes-for-ceasefire-dwindle#Tariff negotiations between Japan and the US have stalled, with Tokyo seeking to end new tariffs imposed by President Donald Trump, including a 10% baseline tariff on cars and car parts, and a 25% rate on steel and aluminum. The US is demanding concessions in exchange for not implementing its own higher "reciprocal" tariff of 24% on Japan, which was set to take effect in July.
https://www.japantimes.co.jp/business/2025/05/16/economy/tariff-half-baked/Pakistan has launched its first sovereign domestic green sukuk worth Rs30 billion as part of a debt restructuring strategy aimed at creating fiscal space for development projects. The move is part of efforts to reduce reliance on short-term loans and increase investment in environmentally sustainable projects. Pakistan aims to follow the Malaysian model for debt management and restructuring, with the goal of reducing its climate financing needs. The country has received significant climate financing from international institutions, including a $1.3 billion Resilience and Sustainability Facility (RSF) from the IMF and $500 million from the Asian Development Bank (ADB). Pakistan plans to issue both green sukuk and conventional bonds to access capital markets, with the goal of supporting its transition to renewable energy sources. The country's debt-to-GDP ratio has declined, while tax revenue has increased, providing a positive economic outlook.
https://www.brecorder.com/news/40363092/pakistan-restructuring-and-reorganising-its-debt-says-aurangzebSingapore's sovereign wealth fund, GIC, and Temasek have found potential for adaptation in the face of climate change, despite geopolitical and economic uncertainty. The country remains committed to its climate goals, with a focus on green finance and private sector growth. A report highlights the importance of enabling small and medium-sized enterprises (MSMEs) to adopt environmental, social, and governance (ESG) practices for sustainable supply chains. Singapore has also established a blended finance initiative to support Asia's decarbonization efforts, with a dedicated office to be set up in the near future.
https://www.businesstimes.com.sg/esg/issue-148-south-east-asias-strategic-bet-sustainability-sembcorps-renewables-win-analysts-callsTibetan Representative Rigzin Genkhang warned the EU about the humanitarian, environmental, and geopolitical repercussions of China's dam projects in Tibet during a conference at the European Parliament in Brussels, Belgium. The Central Tibetan Administration reported that the conference, attended by environmental specialists, policy advocates, and European representatives, assessed the impacts of China's hydropower initiatives on the Tibetan Plateau.
https://www.lokmattimes.com/international/tibetan-representative-warns-eu-of-chinas-dam-projects-in-tibet/US President Donald Trump's meetings with Chinese officials in Geneva were intended to address US concerns about the world trading system, but a resolution is unlikely due to China's insistence on multilateral negotiations. The talks, held at the Swiss UN ambassador's residence, featured He Lifeng and Li Chenggang, who has expertise on multilateral trade rules. Contrary to expectations of a bilateral deal, no agreement was reached in Geneva, highlighting the complexity of resolving US-China trade disputes.
https://www.scmp.com/opinion/world-opinion/article/3310529/chinas-message-trade-deals-clear-multilateral-only-way?module=top_story&pgtype=sectionA meeting is scheduled between Turkey's Foreign Minister Hakan Fidan, US Secretary of State Marco Rubio, Ukrainian Defense Minister Rustem Umerov, and Russian advisor Vladimir Medinsky, with the US delegation also set to meet a high-level Ukrainian delegation and participate in Russia-Ukraine negotiations.
https://www.hurriyetdailynews.com/rubio-arrives-in-istanbul-to-attend-russia-ukraine-peace-negotiations-209246