Trump Deadline Passes for Iran Blockade, Pope Pushes Back, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made. And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday, keeping an eye on what's happening across Europe and around the world. We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break. So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens. It's smart, calm and to the point. And it fits into your morning. You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris on Apple, Spotify, YouTube or wherever you get your podcasts.
News when you want it with Bloomberg News Now. I'm Amy Morris. President Trump's deadline has come and gone for a naval blockade of Iranian ships near the Strait of Hormuz. In a social media post after that 10 a.m. window closed, the president promised to eliminate Iranian fast attack ships that come close to the blockade. Bloomberg's Dan Williams with more from Jerusalem.
What Trump appears to have done now is turn the tables, basically announcing that it's free traffic for all or free traffic for none. This American blockade would apply to ships that call in Iranian ports. Other ships would not be stopped, presumably. Also, ships carrying aid, humanitarian goods, would be allowed through after inspections, it would appear.
Bloomberg's Dan Williams reports Iran, for its part, has threatened to target all ports in and near the Persian Gulf if its shipping hubs are threatened. Bloomberg Intelligence Senior Defense Research Analyst Wayne Sanders says both sides are playing a game of chicken.
The U.S. has some leverage here, but it still puts Iran back into the ability to affect and interdict things that are going on near the straits as well, right? They still have some drone and ballistic missile capability. They still have threats of laying mines in the straits. So both sides right now are still kind of up in their game in terms of what they're trying to be able to accomplish.
Retired Colonel Wayne Sanders with Bloomberg Intelligence. European Investment Bank President Nadia Calvino says it's clear the Iran war will lead to lower global growth.
So the sooner this war is over, the sooner we will be able to get on with the recovery and trying to reestablish the path on which we were before of a stronger growth and shared prosperity.
Calvino spoke on Bloomberg's open interest. Pope Leo says he doesn't fear the president, citing the gospel as he pushes back in a feud over the U.S.-Israel war in Iran. Trump says he does not believe the Pope is doing a very good job and that he's a very liberal person. Pope Leo stressed he's not making a direct attack against President Trump and that his message of peace and reconciliation is rooted in the gospel. Hungary's prime minister-elect Peter Magyar accuses outgoing foreign minister Peter Siardo of destroying documents related to European Union sanctions as he pledged to put an end to the country's cozy ties with Russia.
They are currently destroying documents that have to do with the sanctions. Just like in the old communist age, shredders are working full time, not only in ministries, but also the other background institutions. But that's not going to help.
Magyar says Hungary would no longer be a Russian puppet state, but would return to Europe and he would work constructively with Brussels to unlock EU funds, saying that Hungary will not stand in the way of a 90 billion euro loan to Kyiv. Goldman Sachs shares fell after that bank reported a surprise drop in bond trading revenue, despite a record quarter from the firm's equities team.
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