US-Iran Deal Floated and Rejected, Ukraine War Continues, India's Coal Squeeze, and Diverging Container Markets
This edition covers the US-Iran diplomatic dance at the UN General Assembly, the ongoing stalemate in the Ukraine war and its oil market implications, India's increasing reliance on coal imports, and the widening divergence between US and European container freight rates.
No Strait Path to Peace
US-Iran deal floated, then shot down, at UN General Assembly.
It was all eyes on New York last week as the world’s leaders converged on the Big Apple for the 81st United Nations General Assembly. The United Nations, the foundational institution of the postwar era, was founded to promote mutual respect and encourage dialogue as a means of sorting international disputes. And while conflicts in Sudan and Ukraine drag on for their third and fourth years, respectively, there is an obvious new entrant on this year’s agenda.
Bellicose Rhetoric and Economic Pressure
Going in to the General Assembly, US-Iranian relations were at best at rock bottom, and judging by the main stage, the United Nations spirit was not exactly setting the mood. US delegates walked out of a speech by Iranian President Masoud Pezeshkian, though the most remarkable behaviour came, unsurprisingly, from US President Donald Trump himself. He accused Tehran of deliberately stringing along negotiations until after a Republican defeat…
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