Iran Economic Pressure, Israel Rejects Hamas Peace Plan, More
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What is the main topic discussed in this episode?
AI is entering its most consequential phase where scale, safety and sovereignty will determine who leads and who lags. Join Bloomberg Tech in London on November 2nd and 3rd as global leaders across business, finance and policy examine the defining trade-offs shaping the future of AI. Thank you to our presenting sponsor, Salesforce, and supporting sponsors, IDA Ireland and Schneider Electric. Learn more at BloombergLive.com slash TechLondon.
News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moskow.
Karen, we begin this morning with the latest from the Middle East.
How is President Trump planning to use economic pressure on Iran instead of new attacks?
President Donald Trump is signaling he is prepared to let economic pressure build on Iran rather than launching new attacks. In an interview with Axios, the president said, quote, we are low-keying it and only semi-negotiating with Tehran on the Strait of Hormuz. Iran's foreign minister, Abbas Araqchi, says direct talks with the U.S. aren't possible for now.
At present, we are not engaged in any negotiations with the United States. As long as the American violation of the Memorandum of Understanding continues and the U.S. does not make amends for its violations, there is no possibility of resuming negotiations.
Iran's Foreign Minister Abbas Saragchi spoke through an interpreter as talks continue with Oman. On Reopening the Strait, we get the latest from Bloomberg's Abir Abu Omar in Dubai.
The two countries were discussing ways or a mechanism to restart shipping through the Strait of Hormuz temporarily to open up some kind of pathway for those vessels that are stuck, for those oil barrels that are stuck to start making their way through the globe. But for now and until today, what we hear from the Iranian side is that those talks are still ongoing. They are in the final stages. And then there are some delays, of course, in getting the formalized final draft.
Bloomberg's Abir Abu Omar. Meanwhile, Iran has elevated a hardline. Former commander has headed the country's Supreme National Security Council. Mohsen Rezaei replaces another hardliner in the post. He's been pushing for full Iranian control over the Strait of Hormuz.
Well, Nathan, back in Washington, the Pentagon is putting more pressure on major defense contractors to speed up weapons deliveries. Deputy Defense Secretary Steve Feinberg sent a letter last week to Boeing, Lockheed Martin and RTX asking for accelerated efforts on several key systems. Becca Wasser is defense lead for Bloomberg Economics.
Obviously, there's been so much focus on munitions consumed in the Iran war. But he really focused on some of those next generation weapons, trying to speed production so that it becomes ingrained within those production cycles for those to be delivered faster. The problem is he's looking at some of the most complex weapons, including things that are needed for air defense systems that could be part of Trump's Golden Dome project, which is intended to protect all of America from all out aerial attack, which is a pretty big ask.
What are the latest developments in reopening the Strait of Hormuz for oil shipments?
Becca Wasser of Bloomberg Economics appeared on Bloomberg this week and catch the show every Saturday and Sunday at 7 a.m. Wall Street time on Bloomberg Radio and Television and the Bloomberg Business app.
Back to the Middle East now, Karen. Israel is rejecting a U.S.-backed peace proposal with Hamas. It calls for the militant group to lay down its arms in tandem with a gradual withdrawal of Israeli troops from Gaza. Here's Prime Minister Benjamin Netanyahu speaking through an interpreter.
Israel rejects the 15-point plan. The IDF will not carry out any withdrawal until Hamas is disarmed. And when I say disarming Hamas, it means the heavy weapons, the less heavy weapons, and the light weapons. all of the weapons.
And we are talking about real disarmament, not a fictitious disarmament. Again, Israeli Prime Minister Benjamin Netanyahu. Hamas has given only hedged consent to the U.S. roadmap. It says it would hand over its heavy weapons to a proposed new Gaza administration on condition of Israeli withdrawals and the creation of a Palestinian state.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:39
2
How is President Trump planning to use economic pressure on Iran instead of new attacks?
0:39–2:57
3
What are the latest developments in reopening the Strait of Hormuz for oil shipments?
2:57–8:12
4
Why has Iran appointed a hard‑line former commander to lead its Supreme National Security Council?
8:12–8:36
Speakers
8 identifiedMore from Bloomberg News Now
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