Iran Signals Deeper Strategic Partnership With China After the War
Tehran has said its 25-year strategic agreement with Beijing will move into a new phase. Iran's foreign ministry says a roadmap is being drawn up to deepen energy, technology and infrastructure ties with China after the war. For Europe this raises the prospect that Hormuz supply chains tilt further into China's orbit.

Iran's foreign ministry spokesperson has said the 25-year "Comprehensive Strategic Partnership" signed with Beijing in 2021 will enter a new phase. According to Tehran, energy infrastructure, telecommunications, port modernisation and digital payment systems will be the priority areas after the war.
In recent weeks China has remained a major buyer of sanctioned Iranian crude. Beijing has also called publicly for Hormuz to reopen as quickly as possible. Iranian officials now say a significant share of revenue from energy exports will be channelled into Chinese-led infrastructure projects.
For European governments the picture is complex. They still need Beijing's leverage to keep tensions in Hormuz contained, but a deepening Iran-China axis directly affects the EU's energy diversification strategy and ongoing tariff talks with China. Berlin and Brussels are expected to convene a fresh coordination meeting in the coming weeks.
More from Europe

Why Has Oil Not Hit $150? Citi Lists Three Reasons Holding the Market Back
Citi analysts have set out three reasons why Brent crude has not breached $150 despite the Iran war and Hormuz tensions: timely use of strategic petroleum reserves, OPEC+ production discipline and the rapid response capacity of US shale. The bank expects prices to hold in an $80-$95 range through year end.

CBRT April Inflation Assessment: Annual inflation rises to 32.37 percent
The Turkish Central Bank released its April inflation assessment, showing consumer prices rose 4.18 percent month-on-month, while annual inflation climbed to 32.37 percent—up 1.50 percentage points. Energy prices surged 14.4 percent, with the underlying trend moving higher.

Airlines can cancel flights in advance over fuel shortages under new plans
Under new UK government plans, airlines can cancel flights in advance due to fuel shortages rather than wait until the last minute. This allows passengers time to rebook and make alternative arrangements.