Geopolitical events
On May 16, 2026, the United States and China finalized the "Global Energy Stability Pact" in Beijing, establishing a joint maritime task force to ensure the safe passage of commercial tankers through the Strait of Hormuz. The agreement includes a coordinated release of strategic oil reserves and a two--year moratorium on new semiconductor and green--tech tariffs. This landmark treaty is expected to significantly reduce global energy volatility and marks a pivotal de--escalation in the ongoing trade and maritime conflicts between the world's two largest economies.