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Washington allowed General License 134B—the last waiver permitting limited Russian crude sales—to lapse at midnight 16 May 2026, abruptly restoring full U.S. sanctions on Moscow’s seaborne oil despite a still-tight global market caused by the Iran war.
SpaceX unexpectedly advanced its Wall-Street timetable, locking in Nasdaq ticker SPCX, a June 4 roadshow and June 11 pricing that could raise up to $75 billion at a ~$1.75–2 trillion valuation—easily the biggest IPO in U.S. history.
On May 15 SpaceX quietly advanced its initial public offering by roughly three weeks, planning to publish its prospectus around May 20, launch a roadshow June 4, and price shares on June 11 for a June 12 Nasdaq debut at about a $1.75-$2 trillion valuation.
On 15 May 2026, during a two-and-a-half-hour stopover, PM Modi and UAE President Mohamed bin Zayed inked deals giving ADNOC capacity to store 30 million barrels in India’s strategic reserves, launched a formal Strategic Defence Partnership, and secured a US$5 billion Emirati investment package.
On 15 May 2026 Samsung’s 45,000-strong semiconductor union confirmed it will strike from 21 May after wage talks collapsed, forcing the company into pre-strike production ‘warm-down’ and prodding the South Korean government to warn it may invoke rarely-used emergency arbitration.
On 13 May 2026 the U.S. Senate installed Kevin Warsh to succeed Jerome Powell as Federal Reserve chair after the tightest, most partisan confirmation in the institution’s history.
On 15 May 2026, state-run fuel retailers raised petrol and diesel prices nationwide by roughly ₹3 a litre, their first increase since 2022, passing a slice of Brent-above-$100 crude costs sparked by the West Asia war and Strait of Hormuz disruptions.
On 14 May 2026, Honda froze its C$15 billion Ontario EV supply-chain project and abandoned its pledge to sell only battery-electric and fuel-cell vehicles by 2040 after announcing a ¥424 billion annual loss.
On 13 May 2026, the Republican-controlled Senate installed Kevin Warsh as the 17th chair of the U.S. Federal Reserve, ending Jerome Powell’s tenure after a months-long confirmation standoff tied to a now-dropped DOJ probe and clearing Warsh to lead the June 16-17 FOMC meeting.
Fresh April 2026 data show inflation re-accelerating worldwide—U.S. CPI hit 3.8% and Romania broke into double digits at 10.7%—after the two-month closure of the Strait of Hormuz tightened global fuel supplies.
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