Morning Briefing: May 20, 2026

Here’s a rundown of all the news you need to start your Wednesday, including a meeting between Russian President Vladimir Putin and Chinese President Xi Jinping in Beijing, President Donald Trump saying that the US is moving rapidly toward ending the war with Iran, and Israel seizing all boats in Gaza-bound aid flotilla.

TOP STORIES

• Putin says Russia-China relations at 'unprecedentedly high level' amid surging bilateral trade

Putin said Wednesday that relations between Russia and China have reached “an unprecedentedly high level” while bilateral trade has increased more than thirtyfold over the past 25 years.

Speaking at a meeting with his Chinese counterpart in Beijing, Putin described Chinese President Xi Jinping as a “dear friend,” recalling a Chinese proverb that “if friends have not seen each other for one day, it feels as though three autumns have passed.”

Putin said at the opening of negotiations in the Fujian Hall of the Great Hall of the People that relations between Russia and China had reached “an unprecedentedly high level” and now “serve as a model of partnership.”

“Against the backdrop of the crisis in the Middle East, Russia continues to maintain its role as a reliable supplier of resources, while China remains a responsible consumer of these resources,” he said.

• US will end war with Iran 'very quickly': Trump

Trump said the US is moving rapidly toward ending the war with Iran.

"We're going to end that war very quickly. They want to make a deal so badly, they're tired of this," Trump said at the White House. "I think we're going to be finished with that very quickly, and they won't have a nuclear weapon, and hopefully we're going to get it done in a very nice manner."

The president also highlighted the US’s military strength, crediting recent operations with degrading Iranian capabilities.

“Our military is the greatest in the world…We wiped out their navy. Their air force is gone. Their anti-aircraft is gone. All of their material that they use for warfare is gone ... I don't want to say their leaders are gone, because it's not very nice, but that happens to be true," he said. Trump stressed that Iran will not be allowed to develop nuclear weapons under any circumstances.

• Israel seizes all boats in Gaza-bound aid flotilla, organizers say

Gaza-bound humanitarian mission Global Sumud Flotilla said all vessels in its aid convoy had been seized by Israel.

"We are awaiting more information about their illegal abduction," organizers of the flotilla said in a statement on Telegram.

Vowing to continue its mission for Palestine, it called on people to "demand safe passage."

"Send emails to your foreign ministers," it added.

NEWS IN BRIEF

• The US has seized an Iran-linked oil tanker in the Indian Ocean, the Wall Street Journal reported, as Washington maintains military and economic pressure on Tehran even while negotiations continue.
• The head of the UN nuclear watchdog warned that a direct attack on the Barakah nuclear power plant in the United Arab Emirates could lead to severe radioactive consequences.
• The US Senate advanced a war powers resolution seeking to require congressional authorization for continued military action against Iran.
• Iran rejected US military claims about a reported missile strike on an elementary school in the southern city of Minab, calling Washington’s explanation
  
• "a baseless fabrication."
• Israeli Finance Minister Bezalel Smotrich said he had been informed of an international arrest warrant issued against him by the International Criminal Court (ICC).
• Rep. Thomas Massie lost his Kentucky Republican primary after facing sweeping opposition from pro-Israel groups and Trump.
• The Pentagon said Tuesday that it is reducing the number of US Brigade Combat Teams (BCTs) stationed in Europe from four to three.
• Vice President JD Vance said the US has never considered sending Iran's stockpile of enriched uranium to Russia.
• Police said they seized more than 30 guns and one crossbow from residences associated with the teenage gunmen who killed three people at a San Diego mosque.
• Rival government in eastern Libya said that only Libyan nationals among the activists on the Gaza-bound Global Sumud humanitarian aid land convoy would be allowed to travel from Libya on the way to the Palestinian enclave.
• United Arab Emirates said its air defense systems detected and engaged with "six hostile drones that attempted to target civilian and vital areas within the country" in the past 48 hours.
• Turkish President Recep Tayyip Erdogan held a phone call with European Commission President Ursula von der Leyen, stressing that rising tensions in the region once again highlight the strategic importance of Türkiye-EU relations.

BUSINESS & ECONOMY

• Oil prices retreat after Trump delays Iran military strike

Oil prices declined on Tuesday as Trump said he postponed a military strike against Iran after direct appeals from the leaders of Qatar, Saudi Arabia, and the United Arab Emirates.

International benchmark Brent crude traded at $110.60 per barrel at 9.46 a.m. local time (0646 GMT), down around 1.3% from the previous close of $112.10.

US benchmark West Texas Intermediate (WTI) decreased about 0.6% to $103.74 per barrel, compared with $104.38 in the previous session.

• Iranian president defends talks with US amid oil export difficulties

Iranian President Masoud Pezeshkian defended negotiations with the US, saying Iran was facing serious economic pressure and could not remain in permanent confrontation.

"They blocked the route, and we are not exporting oil either," Pezeshkian told a meeting, according to remarks carried by Iran’s semi-official ISNA news agency.

"We cannot easily export oil," he added.