SAUDI AIRLINES TO RESUME FLIGHTS TO DUBAI AND ABU DHABI ON APRIL 11

Domestic News: 1. He Lifeng meets with Ray Dalio, founder of Bridgewater Associates. 2. The General Office of the State Council announces "Several Measures on Accelerating the Construction of a Tiered Medical System". 3. The Ministry of Commerce responds to rare earth export controls: China and the US will maintain communication through trade consultation mechanisms. 4. The Ministry of Industry and Information Technology and three other departments hold a symposium with companies in the power and energy storage battery industry to deploy work related to regulating industry competition. 5. Two departments: Focusing on supporting approximately 30 cities (clusters) to implement a new round of national comprehensive freight hub supply chain strengthening and upgrading actions over about three years. International News: 1. Putin announces a 32-hour ceasefire for Orthodox Easter; Ukraine announces it will follow suit. 2. The Intercontinental Exchange significantly increases margin requirements for Brent crude and European diesel futures contracts. 3. US media: The US government is expected to extend sanctions waivers for Russian oil this week, potentially paving the way for waivers for Iranian oil. 4. Polish Central Bank Governor: Will continue gold purchases; currently holds 580 tons of gold; reiterates goal of increasing gold reserves to 700 tons. 5. Iran Situation— ① Iranian Deputy Foreign Minister: The Strait of Hormuz remains open; passage requires coordination with Iran. An Iranian delegation will travel to Islamabad for negotiations. Iran nearly responded to (Israel's) ceasefire violation. ② Israeli Prime Minister orders direct negotiations with Lebanon, stating fighting will not cease until Hezbollah is disarmed. Trump says he has asked Netanyahu to be "more discreet" in his actions in Lebanon. Direct negotiations between Lebanon and Israel will begin next week in Washington. ③ Trump warns Iran against charging tolls for passage through the Strait of Hormuz. Iran has performed very poorly regarding oil transport through the strait. This is completely inconsistent with our agreement. ④ Yemen's Houthi rebels threaten to tighten passage through the Red Sea over attacks in Lebanon. ⑤ Iran denies launching missiles at other countries during the ceasefire. ⑥ Sources say Iran will not negotiate with the US until a ceasefire is achieved in Lebanon.

HASSETT: ASIA FEELING REAL PAIN BECAUSE THEY ARE RUNNING OUT OF OIL