Israel calls on China to rein in Iran's military and nuclear ambitions
Israel has called on China to use its economic and political influence to curb Iran's military and nuclear ambitions, Bloomberg reported on Tuesday.
'China is the only one capable of influencing Iran,' Consul-General in Shanghai Ravit Baer said. 'Iran would collapse if China didn't buy its oil,' she added.
Both China and Russia stood by Iran in March after the US demanded nuclear talks with Tehran, with senior Chinese and Russian diplomats saying dialogue should only resume based on "mutual respect" and all sanctions ought to be lifted, The Jerusalem Post previously reported.
'They can pressure Iran. They have political power over Iran. They can help change its malign activities in the region,' she said. 'There are many things China can do.'
However, despite the fact that both countries have close relations with the Islamic Republic, neither offered assistance in the 12-day war between Israel and Iran.
'I don't think China is interested in being a mediator' between Israel and Iran, Baer said. 'Being a mediator is a big responsibility, requires lots of money, and hard decisions.'
According to Bloomberg, Baer added that Israel's relations with China, its second-largest trading partner after the US, haven't worsened much despite conflicts since 2023.
'We're still having good conversations,' she said. 'Even if we disagree politically, it doesn't mean you cannot cooperate.'
This is a developing report.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
36 minutes ago
- CBS News
Ukraine kills Russian navy's No. 2 commander in strike, but officials worry about Trump's military aid cuts
Behind U.S. decision to hold back some weapons shipments to Ukraine Why U.S. held back some weapons for Ukraine Why U.S. held back some weapons for Ukraine The deputy commander of Russia's navy, Major General Mikhail Gudkov, was killed by a Ukrainian missile strike in the far-western Russian city of Kursk, a state-linked Russian news outlet said on Thursday. Gudkov, who previously commanded a Russian marine unit involved in the ongoing invasion of Ukraine, died of injuries sustained in the strike on a military administration building, according to the AiF website. Russia's Ministry of Defense provided no details, but confirmed that Gudkov died "during combat operations in one of the border areas of the Kursk region." An image shared by Russia's Ministry of Defense shows Major General Mikhail Gudkov, the deputy commander of the Russian navy, whom the ministry said was killed during combat with Ukraine on July 2, 2025, in the western Russian city of Kursk. Telegram/Russian Ministry of Defense Ukrainians saw it as a boost to morale at the end of a difficult week. The Trump administration said Tuesday that it had paused some weapons deliveries to Ukraine, prompting alarm in Kyiv, uncertainty among America's NATO allies, and some crowing from Moscow. The White House did not confirm which weapons were being pulled from delivery, or the scale of the reduction in U.S. military support for Ukraine. The announcement came about a week after President Trump met with his Ukrainian counterpart, President Volodymyr Zelenskyy, during a NATO summit in the Netherlands. Speaking after their meeting, Mr. Trump said he was considering sending additional Patriot missile batteries to Ukraine to help strengthen the country's air defenses against Russia's bombardment. "They do want to have the anti-missile missiles … the Patriots," Mr. Trump told reporters after his meeting with Zelenskyy, "and we're going to see if we can make some available." He added that the Patriots were, "hard to get." Ukraine's Foreign Ministry said it invited U.S. Deputy Chief of Mission in Kyiv John Ginkel to the ministry on Wednesday to stress that "any delay or procrastination in supporting Ukraine's defense capabilities would only encourage" Russia to continue its war, rather than to seek the peace that Mr. Trump has said many times he wants to help usher. President Trump said in a Thursday morning post on his Truth Social media platform that he would speak later in the day with Russian President Vladimir Putin on the phone. "Ukraine has not received any official notifications about the suspension or revision of the delivery schedules of the agreed defense assistance, so we proceed from the actual data and check the details of each element in the delivery," Ukraine's Defense Ministry said in a statement Wednesday. Zelenskyy said in a video statement that Ukraine was seeking to clarify details of any change in defense support from the U.S. CBS News' Margaret Brennan reported Thursday that Mr. Trump and Zelenskyy were to hold a phone call on Friday to discuss the war after the announcement of the reduction in U.S. weapons deliveries. Ukraine's Foreign Minister Andrii Sybiha emphasized the urgency of sustained military backing in a social media post, saying "the only way to force Russia to end the war is to increase pressure on Moscow and strengthen Ukraine." Moscow's reaction was also swift, and decidedly more optimistic. Chief Kremlin spokesman Dmitry Peskov called the news from the White House, "a logical and overdue step," suggesting that Western fatigue with the war in Ukraine would only grow. "The less weapons are supplied to Ukraine, the closer the end of the Special Military Operation is," Peskov said, according to TASS, using the Kremlin's term for the war that Russia started with its full-scale invasion on Feb. 24, 2022. Severely damaged residential buildings are seen in Kyiv, Ukraine, after a direct strike by a Russian missile, June 17, 2025. ORI AVIRAM/Middle East Images/AFP/Getty NATO Secretary General Mark Rutte acknowledged during the summit last week that the Trump administration needed to prioritize U.S. weapons inventories, but he stressed that Ukraine depends heavily on American hardware — especially ammunition and air defense systems — and he urged Washington to remain flexible, and called on Europe's NATO members to increase contributions for Ukraine. "It's a clear message to step up our own support," European Commission President Ursula von der Leyen told reporters this week, "ramping up our European defense capacities, not only at the level of the European Union, but at the continental level." Kyiv and several other major Ukrainian cities have faced an escalating barrage of missile and drone attacks over the last month, sometimes overwhelming the country's air defense systems and causing significant civilian casualties and infrastructure damage. Over the weekend, Russia launched what Ukrainian officials called the biggest aerial attack of the war, hitting energy facilities, residential areas and military infrastructure in a coordinated strike involving dozens of missiles and Iranian-made attack drones. Ukrainians say the surge in airstrikes has underscored their need for strengthened air defenses.
Yahoo
37 minutes ago
- Yahoo
The Great Bitcoin Power Shift Has Large Holders Dumping 500,000 Coins
(Bloomberg) -- A silent transfer of control is reshaping the $2.1 trillion Bitcoin market. NYC Commutes Resume After Midtown Bus Terminal Crash Chaos Struggling Downtowns Are Looking to Lure New Crowds Massachusetts to Follow NYC in Making Landlords Pay Broker Fees What Gothenburg Got Out of Congestion Pricing Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals A steady stream of sales by long-time whales — miners, offshore funds and anonymous wallets — is being matched almost one-for-one by institutional players like ETFs, corporates and asset managers. The result: Bitcoin is struggling to break out of its record high around $110,000, volatility is evaporating, and its place in the investment landscape is being reshaped. Despite a flurry of bullish headlines — from corporate treasuries embracing Bitcoin to the Trump administration's full-throated crypto endorsement — the largest digital currency has remained stuck in its trading range for months. Underneath the surface, long-dormant whales have been trimming positions just as institutions ramp up their buying. And this switchover is gradually recasting Bitcoin's identity from a high-octane trade to a slow-burn allocation. Over the past year, large holders, or Bitcoin whales, have offloaded more than 500,000 Bitcoin — worth over $50 billion at current prices — according to data compiled by 10x Research. That's roughly equal to the net inflows into the wildly successful US exchange-traded funds since their approval. And it's not far off from the $65 billion amassed over the past five years by crypto treasury pioneer Michael Saylor and his firm, now known as Strategy. Many of these whales trace back to Bitcoin's earliest cycles, when it traded far below current levels. In some cases, whales aren't simply selling, they're swapping tokens for deals tied to the stock market, bypassing the open market. 'What we're seeing is a churning in the base,' said Edward Chin, co-founder of Parataxis Capital. 'A less covered driver and potential reason for the churn and increasing network activity seems to be driven by whales converting their BTC into equity exposure through in-kind contributions of BTC into financing transactions tied to the public markets.' Institutions — from ETFs and Saylor's Strategy to dozens of corporate imitators — now control about a quarter of all Bitcoin in circulation. Back in 2020, researcher Flipside Crypto estimated that about 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency's blockchain controlled 95% of the digital asset. The power dynamic is shifting fast. 'Crypto is becoming less of an outlier and more established as a legitimate asset class,' said Rob Strebel, head of relationship management at the trading firm DRW, which includes crypto-focused arm Cumberland. Alongside that shift, 'we expect to see a compression in volatility.' That appears to be already taking place, dampening one of the most alluring aspects of Bitcoin to many traders. A closely watched measure of price swings has declined to the lowest level in about two years, according to Deribit's BTC Volatility Index. The gauge monitors the 30-day forward-looking annualized expectations of volatility. While the whales cut exposure, ETFs, treasury companies and other institutions combined have absorbed nearly 900,000 coins in the past year, according to 10x Research. These players now hold about 4.8 million coins, out of about 20 million Bitcoin in circulation. But even as institutions bring stability and legitimacy to the asset class, some observers warn they're also providing the long-awaited exit ramp for whales, raising the risk that it's retail and retirement investors left holding the bag if crypto sentiment falters. 'The goal for a long time has always been to make Bitcoin a palatable asset for institutional investors to provide exit liquidity in volume so the whales could cash out,' said Hilary Allen, a law professor at American University's Washington College of Law, a long-time crypto skeptic. After two straight years in which the price more than doubled, Bitcoin is still hovering around levels reached at the start of the year, despite President Donald Trump's pro-crypto agenda. Some analysts now expect Bitcoin's appreciation to be capped at 10% to 20% a year. That's a far cry from 2017's almost 1,400% surge that pushed the token into the mainstream. 'Bitcoin is probably more like boring dividend stock over time,' said Jeff Dorman, chief investment officer at Arca. 'On average it goes higher every year, but by less and less amount. It becomes more of an attractive retirement asset.' Still, the picture is incomplete. Not all whale activity is visible, and Bitcoin could prove ever-volatile soon enough, especially if a new market catalyst emerges. Regardless, one big risk right now is imbalance: If Bitcoin whales resume selling at scale while institutional flows plateau, the market could tip into steep declines. Outflows of just 2% in 2018 and 9% in 2022 triggered Bitcoin price drops of 74% and 64%, respectively, according to 10x Research. 'We are nearing a point where the market is hitting its peak,' said Fred Thiel, chief executive officer of Bitcoin miner MARA Holdings Inc., which has yet to sell any of its Bitcoin holdings. 'My personal belief, however, is we are in a very different market dynamic today.' All told, the shift from anonymous whales to institutional allocators may help sustain the current market dynamic for an extended period. 'This can go on for a long time — years,' said Markus Thielen, CEO of 10x Research. 'It's more of a slow grind, where Bitcoin becomes more of a 10%-20% asset. The nature of Bitcoin really changes.' SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too How to Steal a House America's Top Consumer-Sentiment Economist Is Worried China's Homegrown Jewelry Superstar Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ©2025 Bloomberg L.P.
Yahoo
39 minutes ago
- Yahoo
Why Cleveland-Cliffs Stock Was a Massive Winner in June
President Trump doubled down on his steel tariff for exporters, benefiting domestic manufacturers. He's proven to be flexible about the levies, however, so the one for steel might not be that sturdy. 10 stocks we like better than Cleveland-Cliffs › June was a banner month for American steel producer Cleveland-Cliffs (NYSE: CLF). It received much investor attention after President Trump signed an executive order doubling tariffs on steel coming into this country, a move that will directly and clearly benefit Cleveland-Cliffs if it holds. Over the month, investors clearly bet it would, and traded the company's stock more than 30% higher. Trump's latest steel tariff was actually imposed weeks before the so-called "Liberation Day," when a clutch of duties on imports was announced. On Feb. 10, the president reinstated a 25% levy on all foreign steel, a tariff regime that he had originally set during his first term in office in 2018. In the opening days of June, Trump quite literally doubled down on the steel tariff, resetting it to 50%; it took effect on June 4. As if such a high rate weren't punitive enough, the White House said in a statement that foreign importers of the metal would be required to follow "strict reporting of steel and aluminum content, with tough penalties like fines or loss of import rights for violators." So it's little wonder that investors were so keen to pile into Cleveland-Cliffs, the Ohio-based steelmaker with roots stretching back to the mid-19th century. A major impetus behind Trump's aggressive tariff regime is to encourage American manufacturing, and Cleveland-Cliffs -- the largest producer of flat-rolled steel in this country -- is a prime candidate. The company could use the help, too. Annual revenue has fallen in each of the past two years, with the bottom line landing deeply in the red (at $754 million, on nearly $19.2 billion in revenue) in 2024. Cleveland-Cliffs has also been unprofitable in four of its last five quarters. Not all tariff-related news was beneficial for the company (or the broader American steel industry, while we're at it). Mere days after Trump raised that steel levy, a Bloomberg reported citing unnamed "people familiar with the matter" stated that U.S. and Mexican officials were close to a deal that would reduce that 50% steel tariff on that country's manufacturers. In this most recent trade war, Trump has shown a willingness to reduce levies in negotiations with certain partner nations overseas. So investors shouldn't have all that much confidence the current steel regime will stick -- 50% is an awfully high number, after all. If it were to melt away to any significant degree, or if countries like Mexico successfully negotiate exemptions, Cleveland-Cliffs would lose that hard-to-beat competitive advantage. With its loss-making ways in the recent past, that might not be the most healthy development for the company's stock. Before you buy stock in Cleveland-Cliffs, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cleveland-Cliffs wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $697,627!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $939,655!* Now, it's worth noting Stock Advisor's total average return is 1,045% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Cleveland-Cliffs Stock Was a Massive Winner in June was originally published by The Motley Fool
