Trump Heads to NATO Summit, FIFA Allows US Star To Play, More
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I'm Francine Lacroix, an award-winning journalist, and I've got a new podcast, Leaders with Francine Lacroix from Bloomberg Podcasts. I've interviewed everyone from heads of state to fashion icons about the news of the moment. But I've always been curious, who are these people as leaders? I don't think there's one right way to be a leader.
Make decisions. A poor decision is always better than no decision.
Listen to new episodes every other Monday. Follow Leaders with Francine Lacroix wherever you get your podcasts. News when you want it with Bloomberg News Now. I'm Karen Moscow.
And I'm John Tucker.
John, we begin with the crucial NATO summit in Turkey. President Trump heads to Ankara tonight as tensions rise over Ukraine, Iran and military spending. And we get more with Bloomberg's Dan Williams in Jerusalem.
Turkey has the second biggest military in NATO after the United States. And we have a U.S. president who's quite openly looking to draw down the U.S. presence in NATO, the U.S. contribution, certainly when it comes to Europe. That's something that's really troubled European powers, not least given what is perceived as a rather warm approach that Trump has been taking to the Russian president.
Bloomberg's Dan Williams reports the U.S. has unsettled its allies in recent months with shifting announcements about reducing its military presence in Europe. Washington has said it will withdraw around 5,000 troops from the continent and reduce the military assets it would provide in the event of a crisis.
And turning now to the war in Iran. Over the weekend, the country's top leadership gathered for funeral prayers honoring Ayatollah Ali Khamenei. Mourners fill the streets chanting death to America and death to Israel. The funeral comes as the U.S. continues negotiations with Tehran. aimed at reopening the Strait of Hormuz and curbing Iran's nuclear program. We also heard from Israeli Prime Minister Benjamin Netanyahu. He spoke with Fox News yesterday, discussing his, quote, excellent relationship with President Trump.
Deal or no deal, as long as I'm prime minister, Iran will not have nuclear weapons. We've been very lucky that President Trump is leading the United States, leading the free world in this common effort. And believe me, if I have things that I want to point out to him, and bring my own opinions, I do so in a free way. And when he has things he wants to tell me, he does that in a free way too. That's what friends and allies do with each other.
What are the key issues President Trump faces at the NATO summit?
Israeli Prime Minister Netanyahu making the comments despite President Trump recently telling Axios that Netanyahu, quote, knows who the boss is in reference to the war in Iran.
Meanwhile, John, oil is fluctuating in a narrow range as flows through the Strait of Hormuz persisted and OPEC Plus signaled higher supplies. Oil and gas shipping in the Strait is showing signs of recovery after a number of recent unexplained detours over the weekend. Bloomberg's Michael Heath says the future of the vital energy corridor remains unclear.
Some countries have been trying to move oil out that side as well. And in the meantime, as you say, there's been some U-turns by tankers that have been taking the Omani route through Hormuz. So there is still a lot of uncertainty about how that's all going to work out.
And Bloomberg's Michael Heath says over the weekend, several vessels performed unexplained U-turns and detours in the energy checkpoint, and four of them then sailed northward toward the Iranian route and exited the strait. Checking the price of oil right now, NYMEX crude oil is down 0.5% at $68.33 a barrel. Brent is at $71.71.
And Karen, elsewhere overseas, Russia launched fresh waves of missiles and drones at Kiev overnight, killing at least 11 people. 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. And Tony Halpin leads Bloomberg's team covering Russia and Ukraine.
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