Nine European countries, Ukraine establish anti-ballistic missile coalition

Nine European countries and Ukraine on Monday established an anti-ballistic missile coalition to strengthen Europe's capabilities against ballistic missile threats.

According to a joint declaration released by the French presidency, the leaders of Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden, Britain and Ukraine announced the creation of the "purely defensive" Anti-Ballistic Missile Coalition, citing the growing threat posed by such weapons and the increasing importance of defense capabilities for Europe's security.

The declaration said protecting Europe requires an integrated missile defense architecture to deter and counter future missile threats.

The announcement came as French President Emmanuel Macron hosted leaders of the Coalition of the Willing in Paris on Monday to discuss strengthening military support for Ukraine, particularly in air defense.

Nine European countries, Ukraine establish anti-ballistic missile coalition

Oil prices jumped on Monday as ceasefire between Washington and Tehran collapsed.

The West Texas Intermediate for August delivery rose 6.73 U.S. dollars, or 9.42 percent, to 78.14 dollars per barrel on the New York Mercantile Exchange, while Brent crude for September delivery rose 7.29 dollars, or 9.59 percent, to 83.30 dollars per barrel on the London ICE Futures Exchange.

U.S. President Donald Trump said Monday that the United States was reinstating a naval blockade on Iran in the Strait of Hormuz.

Traffic in the strait has plummeted as renewed strikes between the U.S. and Iran heightened safety concerns. Maritime data firm Kpler said 14 ships transited the strait on Sunday, the fewest in a month.

Crude futures surge as Trump reinstates Iran blockade