Iran has declared the Strait of Hormuz closed and threatened to fire at any ship passing through it. The narrow waterway is a vital chokepoint for global oil and gas, but also for other commodities such as fertiliser. FRANCE 24's Yuka Royer speaks with Noam Raydan, a maritime risk expert at The Washington Institute for Near East Policy, about the potential impact of the Strait's closure and how Iran could further escalate the situation. 

As war escalates in the Middle East and Iran's security forces order ships not to cross the Strait of Hormuz, oil prices have surged this Monday, putting pressure on global markets. In this edition, we speak to Jorge León of Rystad Energy to better understand the forces that are bringing benchmark energy prices higher. 

Hungary's Prime Minister Viktor Orban has asked the EU for a fact-finding mission over disruptions to a pipeline which delivers Russian crude oil. Hungary has accused Ukraine of "deliberately threatening" its energy security ahead of key parliamentary elections. The Soviet-era Druzhba pipeline is still used by Hungary and Slovakia, which remain dependent on Russian oil imports despite European efforts. Also in the show: German lawmakers consider ending the eight-hour workday. 

Despite headwinds from US tariffs and Chinese competition, the European Bank for Reconstruction and Development's latest report shows stronger-than-expected GDP growth, particularly in sub-Saharan Africa as decelerating inflation boosts consumer spending power. In Business, we spoke to the report's lead author, EBRD chief economist Beata Javorcik.

In his State of the Union address, US President Donald Trump sought to reassure Americans that the economy is doing well ahead of key midterm elections. Also in this edition: the Pentagon tells Anthropic it has until Friday to loosen AI safeguards, or lose its $200 million contract. Plus the Louvre's president resigns after a series of crises and what auditors consider to be a mismanagement of funds.

German Chancellor Friedrich Merz is visiting China on a two-day trip starting on Wednesday. He's the latest in a string of Western leaders who have been seeking new partnerships with the Asian giant in recent weeks, amid Donald Trump's trade war against the rest of the world. It's a delicate balancing act for the German leader as the country's industry has been squeezed by competition from China. But first, we take stock of what four years of war have done to Ukraine's economy. 

Four years to the day after Russia's full-scale invasion of Ukraine, we take a look at the state of the country's economy. The World Bank estimates it will take $588 billion over the next 10 years to make up for damage and destruction incurred during the conflict. The housing, transport and energy sectors have seen the biggest losses. Also in this edition: Panama takes control of two key ports on the Panama Canal.

After the US Supreme Court struck down his "Liberation Day" tariffs as unlawful, US President Donald Trump has doubled down on his trade policy and warned countries around the world not to "play games" with the court ruling and stick to recently agreed trade deals. The EU, meanwhile, has decided to hold off on ratifying its agreement with the US while waiting for clarity.
 

Also in the segment: Panama's government has seized control of key ports on the Panama Canal from a Hong Kong company after its top court annulled the firm's operating concessions. 

After a weekend of trade upheaval in the wake of the US Supreme Court's decision to invalidate US president's tariffs that invoked the International Emergency Economic Powers Act, and Donald Trump's subsequent decision to apply 15 percent global tariffs based on another law, we look at the latest developments in global trade. Also in this edition, robotaxis are vowing to hit the streets of London by the end of 2026. 

What fate awaits Europe’s Future Combat Air System? The joint programme to modernise military aviation in France, Germany and Spain has hit turbulence, as tensions rise between the partners designing a next-generation fighter jet – and questions grow over whether Berlin might quit the defence scheme altogether. Also, Apple is being sued over its alleged role in distributing child sexual abuse material, and the Trump administration is threatening to withdraw from the International Energy Agency over its net-zero emissions goals.