A possible agreement with Iran became the most talked-about headline this week. Contradictory messages from Washington further complicated the search for direction by investors and the market. While pressure on energy prices was felt, concerns arose that high costs could fuel inflation. Statements made by US President Donald Trump on social media reignited debates around the Strait of Hormuz. The White House's confirmation that talks were completed, but without providing details, increased uncertainty about the fate of the agreement. In the same week, US attacks on southern Iran and Tehran's response with at least one counterattack also raised tensions. It was also reported that Trump called on countries such as Saudi Arabia, Qatar, Pakistan, Egypt, Turkey, and Jordan to join the Abraham Accords. Within this framework, it was noted that some countries adopted a cautious stance, especially Pakistan clearly expressing discomfort with any future agreement being associated with this package. On the Ukraine war front, the deadlock and increasing war fatigue drew attention. Warnings that Russia could continue missile attacks on Kyiv in a "continuous and systematic" manner kept concerns about escalating tensions alive. Meanwhile, Sweden's decision to donate 16 Gripen fighter jets to Ukraine stood out as a sign of Europe's continued support for Kyiv. The tension in the region was not limited to the battlefield. The crash of a drone, reportedly belonging to Russia, in Romania further heightened tensions between Moscow and NATO. China's messages of support to Russia also brought the impact of the war on great power balances back to the agenda. The last major headline of the week was Japan's demographic crisis. According to official data, the country's population decreased by more than 3 million in the last five years, falling to 123 million in 2025. This stood out as the largest decline recorded since 1920. Japan's aging population poses a long-term pressure on the country's economic strength and technological capacity. While discussions continue on how to open immigration gates, the strengthening of the "Japan First" line is forcing officials to take more cautious steps.