The US and China: Washington and Beijing discuss extending rare earth deal as export curbs disrupt global supply chains
On 18 May, Reuters reported that, US and China are discussing extending a temporary agreement on China’s rare earth export restrictions. However, Beijing continues to tightly control exports of critical minerals used in defence, semiconductors, aerospace, and electric vehicles. Experts say China is playing the export game with a restricted number of items, to ensure strategic control of the vulnerable supply chains. The shortages have caused a worldwide shortage of manufactured goods, and some US-based aerospace companies have even temporarily shut down manufacturing. The prices of some rare earths outside China are skyrocketing and the cost of magnets and sophisticated parts is rising as well. Furthermore, partners like Japan and Germany, which are highly reliant on Chinese supplies, have not been spared of the effect. However in response, the US, Japan, Germany, and G7 countries are investing in alternative supply chains, albeit experts state it will take years to wean off Japan's reliance on China.
(“White House gets small rare earth win, but China's export regime is here to stay,” Reuters, 18 May 2026.)

EV’s: BNP Paribas says hybrids may outpace EVs in markets with weak charging infrastructure
On 18 May, South China Morning Post reported that despite the global energy crisis boosting interest in EVs, BNP Paribas believes that fully electric cars will coexist with petrol vehicles for longer than expected. At a BNP Paribas conference in Hong Kong, analysts argued that hybrid and plug-in hybrid vehicles may coexist with petrol cars longer than expected, especially in markets with ageing power grids like the US and parts of the Middle East. While China and Europe remain leaders in EV readiness, hybrids are increasingly driving export growth. China’s EV exports rose 75 per cent in the first quarter, with hybrid models gaining momentum after EU tariffs on Chinese battery EVs. Analysts still expect Chinese automakers to expand strongly in Europe despite these hurdles.
(“Global growth of pure EVs faces hurdles in insurance, charging gaps, says BNP Paribas,” South China Morning Post, 18 May 2026).

Iran and cryptocurrency networks: Nobitex channels billions through Tron and BNB Chain amid sanctions concerns
On 18 May, Reuters reported that, Iran’s largest cryptocurrency exchange, Nobitex, processed at least USD 2.3 billion since 2023 through the Tron and BNB Chain networks, both closely associated with crypto billionaires Justin Sun and Changpeng Zhao. The two figures have also supported Trump family-backed crypto venture World Liberty Financial. Blockchain data showed Nobitex was extensively used by sanctioned Iranian institutions, including Iran’s central bank and the IRGC, to transfer funds and bypass sanctions. Analysts warned the actual scale of Iran’s crypto transactions could be significantly larger, as the exchange frequently shifts wallet addresses to avoid detection. The report has intensified concerns over possible conflicts of interest linked to President Trump’s expanding role in the cryptocurrency industry while maintaining a hardline policy towards Iran.
(“How Trump’s crypto venture and Iran’s top exchange tapped into the same industry networks,” Reuters, 18 May 2026)
https://www.reuters.com/investigations/how-trumps-crypto-venture-irans-top-exchange-tapped-into-same-industry-networks-2026-05-18/