2026-04-05
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This is The World In Brief from The Economist.
Our top stories.
Donald Trump gave Iran 48 hours to make a deal or open the Strait of Hormuz, after which it would face all hell.
On March 27th, the president said America would start striking civilian energy facilities in 10 days.
Separately, both Iran and America searched for an American pilot whose F-15 warplane was shot down over southern Iran.
American forces rescued the plane's other crew member.
European policymakers are privately pushing back against new windfall taxes on big oil,
labelling the measures as premature, a source close to the negotiations told The Economist.
The finance ministers of Austria, Germany,
Italy, Portugal and Spain called for windfall taxes on oil firms amid an energy shock triggered by the war in Iran.
In a letter, they urged for those who profit from the consequences of war to do their part.
The European Commission is working on targeted policy measures, a spokesperson said.