President Trump's new budget proposes $1.5 trillion for defense, with automatic military draft registration planned by December, while Democrats blocked a resolution to curb his war powers and officials debate the US's Iran war objectives.
Iran is reportedly demanding cryptocurrency tolls for ships to pass through the Strait of Hormuz, prompting warnings from the UN shipping agency about a "dangerous precedent" and President Trump's ultimatum for immediate, unrestricted opening.
Oil prices fluctuated, with Brent crude nearing $100 a barrel, as investors reacted to the fragile US-Iran ceasefire and concerns over supply disruptions, leading to increased trading costs and caution in global markets.
Britain's defense secretary, John Healey, announced the Royal Navy tracked and deterred three Russian submarines engaged in "nefarious activity" against critical undersea infrastructure in the North Atlantic during a month-long operation.