Meanwhile... Power is shifting in Vietnam, one of Asia’s fastest-growing economies. Here's why you should pay attention.
Vietnam’s new president, To Lam, has consolidated both party and state leadership — a first in decades. This move signals faster decision-making, deeper reforms, and a more centralized vision for growth. What’s happening: • Stronger leadership control • Aggressive anti-corruption drive • Government restructuring at scale (150,000 bureaucratic jobs cut; 8 ministries abolished) • Private sector pushed to the forefront. 10%+ GDP growth targeted. And he’s just getting started. Why it matters: Vietnam is a critical node in global supply chains and a key alternative to China. But with rising reliance on the US and external shocks (energy, geopolitics), the stakes are higher than ever. The big question: Can centralized power accelerate growth — without losing internal consensus? This is not the Vietnam of 10 years ago. This is a nation that has found its footing — and is now running. Vietnam is entering a defining chapter. Source: FT
Many scenarios for the end of the Iran war suggest that Tehran will gain permanent control of the Strait of Hormuz
An analysis by JP Morgan suggests that Tehran could raise up to $90 billion a year this way, instantly making Iran one of the wealthiest Gulf economies. Source: ChrisO_wiki
The new deadline from the US President: 8PM ET on Tuesday for a deal before "“Every bridge in Iran will be decimated" by 12 midnight ET.
Source: David Ingles
The United Arab Emirates is now planning to open the Strait of Hormuz BY FORCE with OTHER allies, after President Trump said "fend for yourselves!"
WSJ
BREAKING: DESALINATION PLANT IN KUWAIT STRUCK BY IRAN INDIAN WORKER KILLED ‘SEVERE DAMAGE’ TO ‘SERVICE BUILDING’
Iran allegedly struck a water desalination facility in Kuwait, causing a death and damage. Because Gulf countries rely heavily on desalination (especially Kuwait, where it provides about 90% of drinking water), the attack is framed as targeting a critical and vulnerable resource. This shifts the conflict from oil/energy infrastructure to water infrastructure—something even more essential and harder to replace or buffer. Desalination is highly concentrated in a small number of plants, making it fragile. This represents a dangerous move into a “water war,” where disruptions could have severe humanitarian consequences.
Iran has drafted legislation to create the "Hormuz Law" which is expected create a formal toll system for the Strait of Hormuz.
Preliminary details include: 1. Hormuz Law to introduce fees on navigation and pollution in the Strait of Hormuz 2. Draft legislation also includes creation of a "regional fund“ 3. The move is seen as an attempt to formalize long-term tolls on global shipping routes 4. The US has called these tolls on the Strait of Hormuz both "illegal" and "unacceptable" The Strait of Hormuz situation is becoming even more complicated. Source: The Kobeissi Letter
Russian President Vladimir Putin signed decrees Wednesday restricting cash and gold exports as part of a broader campaign to combat the shadow economy and curb capital flight.
Under one decree, carrying ruble cash across the border of Russia to the Eurasian Economic Union (EAEU) will be prohibited in the amount equivalent to more than $100,000 at the exchange rate of the Bank of Russia from April 1, with certain exceptions. The other decree bans the export of gold bars weighing more than 100 grams from Russia starting May 1. It includes some exceptions and does not apply to commercial banks. Both decrees were published on the government portal. Source: www.aa.com.tr, Macro Liquidity by Sunil Reddy
Iran Controls Passage Through the Strait of Hormuz
Iran has announced it will allow “non-hostile vessels” to transit the Strait of Hormuz, but only under Iranian control and coordination. This strait normally carries ~20% of global oil, yet thousands of ships are delayed, attacked, or paying high fees. Iran may block vessels linked to the US or Israel and is drafting laws to formalize control. Beyond shipping, this move signals a financial shift, including potential moves away from the US dollar, turning the Strait into a strategic leverage point in global energy and trade. Source: Financial Times
