Fresh U.S. strikes on Iran and renewed disputes with European allies have overshadowed the NATO summit in Ankara.
NATO leaders gathered in Ankara on Wednesday, hoping to secure President Donald Trump's commitment to the alliance as tensions over Iran and burden-sharing once again dominate the agenda.
The meeting comes after the U.S. launched a new wave of strikes on Iran and revoked a licence that allowed Tehran to sell oil, raising fears that a fragile ceasefire could collapse.
Key Details
Trump arrived in Ankara criticizing NATO allies for what he described as a lack of support during the U.S.-Israeli conflict with Iran. He said the U.S. has spent "hundreds of billions of dollars" defending allies without receiving enough backing in return.
NATO Secretary General Mark Rutte defended the latest U.S. military action, calling the strikes "absolutely necessary" and accusing Iran of violating the ceasefire.
Ahead of the summit, NATO members announced at least $50 billion in new arms deals to demonstrate that Europe is increasing defence spending and reducing its reliance on Washington.
Trump also reignited tensions with Denmark by saying Greenland should be controlled by the United States. Danish Prime Minister Mette Frederiksen responded that Greenland is "not for sale."
Market Reaction
The renewed conflict in the Middle East has kept investors on edge, supporting oil prices and increasing demand for safe-haven assets. Defence stocks remain in focus as NATO members commit to higher military spending.
Why It Matters
For traders, the combination of geopolitical tensions, energy market uncertainty, and questions over NATO unity could increase volatility across currencies, commodities, and global equities.
Investors will closely watch whether NATO leaders can ease tensions with Washington and whether the ceasefire between the U.S. and Iran can hold in the coming days.
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Source: Reuters
Time: 2:30 PM EEST
