Newsquawk Daily Asia-Pac Opening News - 22nd June 2026

• US and Iran talks opened in Switzerland on Sunday after US VP Vance arrived in Switzerland and the Iranian delegation led by chief negotiator Ghalibaf, which included Foreign Minister Araghchi, arrived on Saturday, while Pakistan’s Premier Sharif and military chief Munir travelled to Switzerland to join the US-Iran talks.
• Iranian delegation left the negotiation site in protest against statements by US President Trump, while Fars also reported that Iran reportedly halted talks with the US after Trump threatened strikes over Hezbollah’s actions in Lebanon. Iran said Trump’s threat is a blatant violation of the MoU and halted talks in Switzerland, while it is reviewing a response to Trump’s threats.
• US President Trump posted that UK PM Starmer will resign and that he failed on two very important subjects, which were immigration and energy, while Trump called for the opening of North Sea oil.
• Looking ahead, highlights include New Zealand Credit Card Spending, PBoC Loan Prime Rates.

LOOKING AHEAD

• Highlights include New Zealand Credit Card Spending, PBoC Loan Prime Rates.
• Click for the Newsquawk Week Ahead.

IRAN CONFLICT

• US and Iran talks opened in Switzerland on Sunday after US VP Vance arrived in Switzerland and the Iranian delegation led by chief negotiator Ghalibaf, which included Foreign Minister Araghchi, arrived on Saturday, while Pakistan’s Premier Sharif and military chief Munir travelled to Switzerland to join the US-Iran talks.
• Iranian delegation left the negotiation site in protest against statements by US President Trump, while Fars also reported that Iran reportedly halted talks with the US after Trump threatened strikes over Hezbollah’s actions in Lebanon. Iran said Trump’s threat is a blatant violation of the MoU and halted talks in Switzerland, while it is reviewing a response to Trump’s threats.
• US President Trump threatened to resume bombing and take over the Strait of Hormuz if a deal is not reached, while Trump said the US may take tolls if it has to and that he has a 60-day option, in which he can do whatever after it. Trump stated he spoke with Iranian officials and used expletive language in the call with Iranian officials on Hormuz, as well as threatened that they won’t have a country if Hormuz is closed, according to Fox.
• US President Trump posted that Iran must immediately stop their proxies in Lebanon from causing trouble, or else the US would hit Iran very hard again, “just like we did last week, only harder!!!” Trump separately commented that there will be no tolls in the Strait of Hormuz, unless they are imposed by the US.
• Iran’s top negotiator Ghalibaf said that they don’t take the threats seriously at all and warned that Iran’s armed forces are ready to respond in a different way.
• Iranian negotiating team member said executive procedures about the release of Iranian frozen funds have taken place with the Qatari delegation and that a draft has been finalised regarding waivers of Iranian oil sanctions, which will be issued soon, although negotiations about other subjects will not take place if the war does not end in Lebanon.
• Iran said it closed the Strait of Hormuz for shipping transit again on Saturday due to Israel’s violation of a ceasefire, while Iranian press cited sources stating that the Iranian negotiating team was said to reiterate that the Strait of Hormuz will not reopen as long as the ceasefire in Lebanon is not respected and waivers for the sale of Iranian oil are not issued.
• Iran resumed oil loading from Kharg Island after about a six-week halt, following the lifting of the US blockade of its ports.
• Three India-linked supertankers re-emerged in the Gulf of Oman, which suggests an increase in traffic through the waterway.
• UKMTO reported an incident in which a cargo vessel was approached by a craft with six armed persons onboard 92 nautical miles southwest of Yemen’s Mukalla in the Gulf of Aden.
• Israeli army chief said the Lebanon ceasefire is fragile and forces remain ready for combat.
• Israeli military convoy reportedly entered southern Syria’s Quneitra region, near the Israeli-controlled Golan Heights.

US TRADE

• US markets were closed on Friday for Juneteenth.

TARIFFS/TRADE

• India is reportedly seeking a competitive edge against rival countries regarding tariffs before enacting the much-delayed trade pact with the US.

NOTABLE HEADLINES

• US President Trump told Axios that he doesn’t see Anthropic PBC as a national security threat, despite his administration recently taking steps to cut off foreign access to the tech company’s most advanced AI models. Furthermore, Trump said that it was seen as a threat last week, but relations have improved since with the AI giant.
• Major investors warned that Fed Chair Warsh’s push to axe the Fed’s guidance on the direction of monetary policy could increase volatility in the Treasury market and drive borrowing costs higher, according to FT.

FX/GLOBAL

• South African Parliamentary Speaker Didiza plans to support President Ramaphosa’s bid to halt his impeachment proceedings.

COMMODITIES

• Iraq asked operators of five major oil fields to boost output to pre-war levels, targeting output of more than 3mln bpd, while it was separately reported that Iraq intends to gradually increase oil production to between 4.2mln-4.3mln bpd, according to the deputy oil minister for upstream affairs.
• Qatar’s Interior Ministry reported an internal explosion at a factory in the Ras Laffan Industrial Area, although no injuries or leaks were reported.
• A fire occurred in Marathon Petroleum’s Galveston Bay refinery (631k bpd) but was extinguished.
• Guinea’s President Doumbouya announced a ban on raw gold exports, in an effort to boost local processing of the metal and help the domestic economy.

GEOPOLITICAL

RUSSIA-UKRAINE

• Ukraine targeted the Tyumen oil refinery in Russia’s Ural region about 2,000 kilometres inside of Russia.
• Ukrainian drone attack killed four people and injured 28 in Russian-controlled Crimea, while a drone attack killed one person on a passenger ferry and caused a fire at an oil terminal in Russia’s Krasnodar region.
• Crimea halted public fuel sales to individuals and businesses from Sunday morning, while fuel would only be supplied to government agencies that ensure the functioning and security of the peninsula, according to the Russian-installed governor.
• IAEA said Ukraine’s Zaporizhzhia Nuclear Power Plant lost off-site power for the 20th time during the conflict with Russia, due to an issue with the site’s internal power lines.

EU/UK

NOTABLE HEADLINES

• UK Business Minister Kyle said he has no reason to believe PM Starmer will resign on Monday amid reports in UK press that Starmer was expected to resign on Monday and set out a timetable for his departure, while a government source stated the PM remained focused on getting on with the job. However, it was separately reported that Business Secretary Kyle said the PM is reflecting on political realities, while Starmer’s allies expect him to set out a timetable for his departure in the coming day.
• UK Chancellor Reeves would be fired if Andy Burnham ousts PM Starmer, according to The Times. It was separately reported that Burnham’s camp is divided over the chancellor pick, with Ed Miliband, Shabana Mahmood and Yvette Cooper believed to be contenders as bond markets seek reassurance, according to FT.
• US President Trump posted that UK PM Starmer will resign and that he failed on two very important subjects, which were immigration and energy, while Trump called for the opening of North Sea oil.
• UK Office for National Statistics admitted to an error that will impact the quality of jobs data in the coming months, after it accidentally allocated interviewers to the wrong survey and failed to spot the mistake for several weeks, resulting in it failing to conduct roughly 1,200 telephone interviews that would have otherwise contributed to the July labour market report, according to FT.
• Italian PM Meloni called out US President Trump for “senseless”, “constant, unprovoked attacks”, while she said that Trump’s statements are completely made up and she doesn’t know why he behaves like this towards allies, after Trump told an Italian TV channel that Meloni begged him to take a picture with her and that he wouldn’t have taken it, but he felt sorry for her. Furthermore, Trump criticised Italy and its PM for not becoming involved with Iran and its nuclear threat.