Iranian media reported a loud explosion on Lavan Island in southern Iran.

German Chancellor Merz said in Ankara participants again reaffirmed their commitment to NATO Article 5, calling it very important.

Trump's push to let Ukraine indigenously produce Patriot air-defense systems and Tomahawk cruise missiles signals a shift in US support from direct fiscal aid to a tech-transfer plus supply-chain-export/outsourcing model. The change forces a re-evaluation of defense contractors' commercial logic: licensing of systems, supply of key components and long-term maintenance contracts can expand overseas revenue and convert one-off government orders into steadier global ecosystem income. It also signals US preparation for a more protracted security commitment, supporting a sustained lift in European defense spending and defense-sector investment. For markets, geopolitical risk is moving from episodic shocks toward structural industry and fiscal shifts; investors may reprice European security assets, the defense sector and energy/resource-linked defensive exposures accordingly.