Trump Headed to NATO Summit, Belgium Fumes After FIFA Clears Balogun, More
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I'm Matt Miller. And I'm Hannah Elliott, inviting you to join us for the Bloomberg Hot Pursuit podcast.
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News when you want it with Bloomberg News Now. I'm Karen Moscow. President Trump heading to NATO this week, still frustrated that NATO did not provide much support during the war with Iran. Bloomberg's Amy Morris has more from Washington.
President Trump has been clear that he wants NATO allies to take on more of the financial burden in defending Europe. He's already ordered the Pentagon to cut troop levels there, which blindsided allies, and slashed the military assets Washington would provide in a crisis. The U.S. has floated the idea of granting political and economic benefits to NATO allies that spend more on defense, and that... raises the prospect of a two-tier alliance, something Germany's defense minister has already spoken out against. In Washington, Amy Morris, Bloomberg Radio.
All right, Amy, thank you. Meanwhile, this weekend, a roundstop leadership gathered for funeral prayers honoring Ayatollah Ali Khamenei. The funeral comes as the U.S. continues negotiations with Tehran aimed at reopening the Strait of Hormuz and curbing Iran's nuclear program. Israeli Prime Minister Benjamin Netanyahu spoke with Fox News yesterday saying he could meet with President Trump at the White House soon.
America called us the model ally, because we are, unlike many of your so-called allies, we actually fight alongside you. Our brave soldiers and your brave soldiers fight shoulder to shoulder. I think America has no greater ally than Israel, and Israel has no greater ally than the United States.
Israeli Prime Minister Benjamin Netanyahu made the comments despite President Trump recently telling Axios that Netanyahu, quote, knows who the boss is in reference to their war with Iran. Meanwhile, oil is fluctuating in a narrow range as flows through the Strait of Hormuz persisted. An OPEC Plus signaled higher supplies. Oil and gas shipping in the strait showing signs of recovery. after a number of recent unexplained detours over the weekend. Several vessels performed unexplained U-turns in the energy checkpoint, and four of them then sailed northward toward the Iranian route and exited the strait. Checking the price of oil now, West Texas Intermediate is down about two-tenths of a percent at $68.59 a barrel.
Brent is at $71.97. Elsewhere overseas, Russia has launched fresh waves of missiles and drones at Kiev overnight, killing at least 11. The strikes come on the eve of the NATO summit, where President Trump is expected to meet his Ukrainian counterpart, Volodymyr Zelensky. Over the weekend, Ukraine hit power sites across Crimea, deepening the energy crisis in the Black Sea Peninsula. Bloomberg's Piotr Skolomowski has the latest.
It's the pattern we've been seeing for over the last few weeks where Ukrainians are hitting deeper and deeper into Russian territory and destroying refineries and really inflicting huge damage. But at the same time, Russia is also being more and more effective when it comes to their ballistic strikes on Kyiv.
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