EconoTicker

U.S. President Donald Trump signed a notice continuing for one year the “national emergency with respect to Ukraine” first declared under Executive Order 13660 in March 2014—a legal foundation that underpins a major tranche of U.S. Russia-related sanctions linked to Ukraine. The notice says the emergency must remain in effect beyond March 6, 2026, citing an “unusual and extraordinary threat” to U.S. national security and foreign policy. Source: according to the U.S. Federal Register (Public Inspection copy of the notice).

The Trump administration appears to be preparing for a broad military campaign against Iran, as the Pentagon assembles a large offensive force in the Middle East despite risks of U.S. casualties and the prospect of a prolonged war, The Washington Post reported, citing current and former U.S. officials. The report says the Pentagon has spent weeks preparing weapons and is now awaiting the arrival of the aircraft carrier USS Gerald R. Ford and its escort ships as planning moves into a more operational phase.

Officials told the Post it remains unclear whether Trump has approved military action, and one factor raised in discussions was the timing of the Winter Olympics in Italy, which end Sunday. A European diplomat familiar with the nuclear talks said some regional diplomats initially viewed the military pressure as leverage to extract concessions, but after Tuesday’s Geneva round they now believe Tehran is not prepared to retreat from core positions, including its claimed right to uranium enrichment.

Source: according to The Washington Post (current and former U.S. officials), with broader context on the regional build-up reported by Reuters and The Guardian.

Russia says it is again ready to accept Iran’s surplus enriched uranium if the U.S. and Iran reach an agreement on Tehran’s nuclear program. Rosatom CEO Alexei Likhachev said Moscow could receive the material once a deal is in place—reviving an idea long discussed as a potential de-escalation mechanism in nuclear diplomacy. Source: according to Izvestia reporting on Likhachev’s remarks and separate reporting citing Kremlin comments.

The concept echoes earlier frameworks where Russia offered to remove excess enriched material and convert it into civilian reactor fuel, a step often framed as a way to narrow gaps in U.S.–Iran negotiations. Source: according to Reuters (June 2025).

Former U.S. Vice President Mike Pence wrote on X that after decades of Iran being labeled a leading state sponsor of terrorism—accusing Tehran of fueling regional violence, repressing its own people, and threatening Israel and the U.S.—“it’s not time for more talk.” He added: “It’s time for the Mullahs in Tehran to stand down or pay the price.”

Source: according to Mike Pence’s post on X (as cited by Euronews Persian).

Germany has temporarily moved part of its military contingent out of Erbil (the capital of Iraq’s Kurdistan Region), citing escalating tensions in the Middle East. A German defence ministry spokesman said only essential personnel remain at the Erbil camp to keep it operational, while dozens of soldiers were shifted to safer locations as a precaution. Separate German media reporting said the drawdown involves a mid double-digit number of non-mission-critical staff, coordinated with international partners.

Source: according to AFP (via a German defence ministry spokesman) and WELT/Der Spiegel reporting.

U.S. President Donald Trump said the U.S. will know within the next 10 days whether it can reach an agreement with Iran, warning Tehran must make a “meaningful” deal as tensions rise. The remarks came after Oman-mediated talks in Geneva involving U.S. envoys Steve Witkoff and Jared Kushner and Iran’s foreign minister Abbas Araghchi. A senior U.S. official said Washington is now expecting a written Iranian proposal outlining how Tehran would address U.S. concerns.

Source: according to Reuters.

Denmark’s maritime authority said it has detained and inspected an Iran-flagged container vessel anchored in Danish waters, citing concerns that the ship is not properly registered. The vessel, currently using the name “Nora” (per LSEG data), had previously sailed under a Comoros flag, but Comoros told Denmark the ship was not found in its registry, Danish officials said. The ship will remain detained until a flag state can demonstrate it is registered and fully certified, after which it can be released.

Reuters also reported that the “Nora” shares the same IMO number as a vessel formerly named CERUS, a container ship on the U.S. Treasury sanctions list; Danish officials later said their inspection found no significant safety deficiencies.

Source: according to Reuters and LSEG data.

Sen. Ted Cruz said in a Fox News “Hannity” segment that Iran’s top leadership is facing a narrowing set of options, framing it as an “exit-or-ouster” moment for Supreme Leader Ali Khamenei and the ruling establishment. Cruz suggested Tehran’s leaders can either accept an opportunity to leave power or risk being forcibly removed, while pointing to past cases such as Nicolás Maduro and Manuel Noriega as cautionary comparisons amid rising U.S.–Iran tensions.

Source: Fox News (Hannity); Ted Cruz post on X.

The UK has not yet approved any U.S. request to use the jointly operated bases at Diego Garcia (in the Chagos Islands, Indian Ocean) and RAF Fairford (Gloucestershire) for a potential strike on Iran, according to reporting citing UK government and security sources. Under long-standing UK–U.S. arrangements, operations launched from these sites against a third country require prior British consent.

The standoff is also spilling into wider UK–U.S. politics: reports say President Donald Trump has pulled back support for the UK’s proposed Chagos Islands sovereignty deal with Mauritius amid frustration over base access, while London signals it is prioritizing legality and de-escalation even as Washington draws up military options.

Source: according to The Times, Sky News, and The Guardian.

Belgium’s Defense Minister Theo Francken said Iran has summoned Belgium’s ambassador in Tehran, linking the move to his appearance at a major Iranian opposition rally in Munich. Belgian media reported the Foreign Ministry confirmed the envoy was called in over Francken’s participation, while Iran has not publicly detailed the substance of the diplomatic exchange.

Francken said he addressed a crowd that police estimated at roughly 250,000 and framed Tehran’s approach as a pattern of “intimidation, blackmail, and hostage diplomacy.” He also claimed his efforts helped shift Belgium into an active supporter of the EU move to list the IRGC as a terrorist organization. Source: according to Francken’s public remarks and reporting by Anadolu Agency and Iran International.

Roberta Metsola, President of the European Parliament, said the EU’s move to formally designate the IRGC as a terrorist organisation is “the right decision,” arguing it sends a clear signal that there should be no safe haven in Europe for those tied to abuses against Iranian protesters.

The designation was formally adopted by the EU Council, following a prior political agreement among EU foreign ministers, and places the IRGC under the EU’s counterterrorism sanctions framework. The Council said this triggers asset freezes (funds and other financial assets/economic resources) in EU member states and prohibits EU operators from making funds or economic resources available to the group.

Source: according to Roberta Metsola’s public statement and the EU Council press release.

Israeli Prime Minister Benjamin Netanyahu issued a sharp warning to Iran’s leaders at an IDF officers’ cadets graduation ceremony, saying Israel is “prepared for any scenario.” He added that “if the ayatollahs make a mistake and attack us, they will face a response they can’t even imagine,” and stressed Israel is acting “alongside its great ally, the United States” against what he called the Islamic Republic’s threat.

Netanyahu also said he recently presented Israel’s principles for any potential talks with Tehran during a meeting with U.S. President Donald Trump, and argued Israel’s security doctrine is no longer based on “containment,” but on active action against threats beyond its borders.

The remarks come amid reports of heightened U.S. military readiness and continued regional force positioning as Washington weighs options alongside diplomacy, with Trump again warning Iran of consequences if no deal is reached.

Source: according to The Times of Israel, The Guardian, and AP.