Trump Declares Iran Ceasefire Over, Oil and NATO Both Move

The ceasefire this column noted as thin on Tuesday is now broken: Trump told the NATO summit in Ankara it is over, and US strikes hit dozens of Iranian targets after tanker attacks in the Strait of Hormuz, per CBS and Bloomberg. Iran answered by targeting Bahrain and Kuwait, and four tankers have already turned back from the strait. That retreat is about insurer nerves, not the strikes themselves. NATO's response was to fund the problem rather than solve it: allies pledged £37 billion for a new missile programme in the same Ankara session, alongside arms deals for Ukraine that SCMP says caught even the alliance by surprise. Separately, SCMP reports Beijing has publicly warned of a backdoor risk in Anthropic's Claude Code, and Anthropic has pushed back. That is a live procurement question for any bank or fund running Claude-based tooling on China-facing infrastructure. A compliance officer at any HK asset manager using AI coding tools now needs a documented answer on data residency before the next audit cycle, not after. Watch the strait reopening figures and Beijing's next move on Anthropic today.