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LGBTQ Israelis fear setbacks as homophobic parties win a place in Netanyahu’s coalition
TEL AVIV and JERUSALEM (JTA) — It was the day before Israel’s Nov. 1 election. In a classroom in downtown Jerusalem, Avi Rose was teaching about Jewish identity through art to a group of Jewish students from abroad spending a gap year in Israel. Suddenly, movement outside caught his eye.
Rose stopped his lecture and approached the second-story window. He was unprepared for what he saw. Dozens of religious Jewish youth from the homophobic Noam party were marching down Jerusalem’s Jaffa Street, chanting and carrying large anti-LGBTQ signs.
The sight was distressing for Rose, a gay Israeli artist who emigrated from Canada 20 years ago. In 2007, he and his husband, Ben, became the first Israeli citizens to have their same-sex marriage certificate from abroad recognized in Israel.
“I’m teaching this wonderful group of young people that have come from all over the world to have their moment in Israel, to finally be free in their Jewish homeland, to be in this democratic Jewish safe space. And they have to see their own teacher going, ‘Oh my God. There are these people out there who their sole purpose is to hate me.’ And it was a dissonance,” recalled Rose, who lives in Jerusalem with his husband and their 10-year-old twins.
“I mean, what the hell am I doing here if that’s the way we are as a Jewish people?” he continued. “And I was scared. I won’t lie to you. I was scared…. I had flashbacks about what my grandparents went through in Europe. And I had to remind myself we aren’t quite there yet. I’m not at the point [where I am going to] pack my bags and protect my children and get out of here.”
By the end of the next day, 14 members of the union of three far-right parties — Noam, Otzma Yehudit (or Jewish Power) and National Union — became the third-largest slate in the Knesset and the second largest in the governing coalition that Benjamin Netanyahu is now assembling. Netanyahu’s other coalition partners are two haredi Orthodox parties, Shas and United Torah Judaism. It will be the most right-wing conservative, religious government in Israel’s history, and its leaders are already vowing to roll back rights that LGBTQ Israelis have only recently won.
Israel does not permit same-sex marriage. But its Supreme Court has strengthened protections for Israelis who enter same-sex marriages abroad, requiring that the marriages be recognized by the state and ensuring that same-sex couples be permitted to adopt children and pursue surrogacy. Now, a Shas lawmaker could be appointed to head the ministry in charge of granting marriage licenses, and a self-proclaimed “proud homophobe” is poised for a leadership position as well.
“I don’t think they’ll criminalize my marriage or take my children away,” said Rose. “But there is a general sense of fear seizing the LGBTQ community.”
Noam, the smallest of three factions making up the joint Religious Zionism list, has focused on advancing policies that prevent the creation of non-traditional families, such as same-gender parents or children created through surrogacy, which it calls “the destruction of the family.” The party’s election slogan was a call to make Israel “a normal” nation.
A man sits outside Shpagat, a gay bar in Tel Aviv, in November 2022. (Orly Halpern)
In a 2019 tweet, the party outlined its vision for what “normal” means. “A father and a father is not normal,” the list began. It ended by alluding to the party’s opposition to Pride flags: “Asking to remove a flag that represents all this madness — that’s actually quite normal.”
One afternoon last week, two male cooks wearing tight black T-shirts exposing prodigious biceps were preparing for opening hour at Shpagat, Tel Aviv’s first gay bar. “Ohad,” who asked not to use his real name out of fear of being harmed, told JTA that there was great concern among his peers about how the new government would shift budgets, change laws and policies and deny LGBTQ Israelis their rights.
“I’m concerned that we will lose all the rights we gained with the recent government and over the last few years,” said Ohad. The outgoing government, a centrist interlude after more than a decade of right-wing leadership, was the most progressive in Israel’s history in terms of the gay community. “We’re talking about the most basic things, like being allowed to donate blood, being allowed to parent children through surrogacy, cancelling the prohibition of LGBTQ+ ‘conversion therapy.’ It’s both to cancel things and to go backwards.”
Yair Lapid speaks at the Tel Aviv Pride Parade on June 10, 2022, weeks before becoming Israeli prime minister. His government was Israel’s most progressive on LGBTQ issues.(Alexi Rosenfeld/Getty Images)
Indeed, one of the memes that worried Israelis have shared widely since election results came out reads, “Don’t forget that tonight, we are moving the clock back 2,000 years.”
Another issue is the distribution of government funding. Israel’s Ministry for Social Equality, for example, allocated 90 million shekels ($26.7 million) this year to benefit the LGBTQ community, which included funding for LGBTQ centers in some 70 cities. The education ministry and local municipalities also provide budgets to the Israel Gay Youth organization, and for teaching in schools about LGBTQ inclusion. Avi Maoz, the head of the Noam party, said he wants to cancel “progressive study programs” about gender.
A spokesperson for the Noam party was unable to make Maoz available and declined to otherwise offer comment.
Transgender Israelis could face the most stark changes. About 40% of transgender people have attempted suicide at least once in their life, according to the health ministry, and more than half avoid receiving medical care. Last year, the outgoing government’s health minister, Nitzan Horowitz, who is gay, set new policies to make healthcare more accessible to the transgender community.
Now the fear is that these policies will be canceled, as will be subsidies for sex reassignment surgeries and drugs. “For all the boys and girls who are in the process of defining their gender identity physically and emotionally, it will make their treatments very expensive or unaffordable,” said Ohad. “That can jeopardize their lives.”
It’s clear that the right-wing party leaders are not sympathetic to the plight of LGBTQ Israelis. Bezalel Smotrich, the head of the Religious Zionist party, identifies himself as a “proud homophobe.” In August, his party protested the enrollment of a third-grader at a religious boys’ school who had transitioned from his gender assigned at birth.
“There is no place in the national religious school system for such confusion of opinions and views that seriously harm the values, natural health and identity of its students,” Smotrich wrote to the education ministry.
The right-wing parties have trained their sights on Israel’s Supreme Court, which has delivered crucial victories to LGBTQ advocates and other minorities. The parties say the court is out of step with Israeli values.
One of the first legislative measures the next government intends to pass is the High Court Bypass Law, which would allow a simple majority of the Knesset’s 120 lawmakers to override Supreme Court rulings on laws that the court struck down, thereby undermining the court’s ability to protect human and civil rights.
“It will leave us as a defenseless minority,” said Liad Ortar, the head of an environmental, social and corporate governance firm, who spoke to JTA from the Climate Change Conference in Egypt. Ortar and his husband have 8-year-old twins through a surrogate from Thailand.
Liad Ortar, right, is concerned that Israel’s incoming government could enact policies that hurt families like his where both parents are of the same sex. (Courtesy Ortar)
Many LGBTQ Israelis fear that lack of tolerance from government ministers could translate into incitement, harassment and physical attacks in the public sphere, and that the religious right-wing extremists who have directed violence towards Palestinians will now target them as well.
“In recent months there has been a very extreme escalation in what’s happening with the settlers and their violence, including the army, that doesn’t really provide protection,” said Ohad. “Not long ago there was an attack on a left-wing woman activist.… Those people are now going to become the ministers of education and culture. So aside from the Arabs and what the settlers do to them there, the next easy target is the gay community.”
In 2015, a religious Jewish man stabbed and killed Shira Banki, a 16-year-old girl marching with her family in Jerusalem’s gay pride parade — weeks after he completed a 10-year sentence for a similar attack in 2005. Now, members of the Religious Zionism slate have called to abolish gay pride parades.
“It’s not only that we are really afraid and worried about our own future. But it’s also our kids’ future. How will it look? And not just the kids of a gay couple, but gay children,” Ortar said. “We’re going to go back to the time where homosexuality can’t be shown publicly, whether at school or in the public sphere. Where they might beat the hell out of a gay couple because they walked hand in hand. Or cursing children in schools because their parents are gay.”
Not all LGBTQ Israelis are alarmed by the incoming government. Gilad Halahmi, a gay man who lives in Tel Aviv, has been active in promoting the Otzma Yehudit and has developed a personal rapport with its leader, Itamar Ben-Gvir. “The fact that he and Smotrich have an anti-LGBTQ agenda doesn’t mean they hate [us],” he said.
Halahmi said he believes his involvement has mitigated Religious Zionist stances on LGBTQ issues, and he also said Amir Ohana, a Knesset member from Netanyahu’s Likud party who is gay, had helped shift right-wing politicians’ views on those issues. But even without that, he said, the tradeoff to get the policies he wants on other issues is worth it.
“I give up LGBTQ rights, but I get something that is much more important to me in return, which is the economic issue, the security issue, the migration issue, governance,” Halahmi said. “It’s things that are 10 times more important to me than public transportation on Shabbat or whether I’ll get married in Israel or abroad.”
But for those who value religious pluralism and LGBTQ rights — and polls have shown that a majority of Israelis do — the current moment is alarming. On Sunday, Ben-Gvir vowed to revoke government recognition of non-Orthodox conversions to Judaism, in the latest sign that a far-right coalition would seek to create practical changes quickly.
For Rabbi Mikie Goldstein, the new government’s threatened assault on pluralism and LGBTQ rights offers a one-two punch that has him questioning whether he should continue living in Israel. Goldstein, an immigrant from England, was the first out gay pulpit rabbi in Israel when he took the reins of a congregation in Rehovot in 2014. Now, he leads the Conservative movement’s Rabbinical Assembly in Israel, working to support rabbis and their congregations who belong to the movement, known as Masorti in Israel.
“If I can’t do my work properly, if I’m not accepted — how much can you take?” Goldstein said. “I’m not prepared to give up yet [on Israel] but it’s certainly crossed my mind.”
LGBTQ activists say they won’t give up rights without a fight — and that they are prepared to mount one.
“We are very much united,” said Ortar. “We have a very strong civil infrastructure. The LGBTQ community is very well established in social and demographic groups. A lot of us are in the media, industry, high tech. After the statement about abolishing the parade, you could hear the drums beating. There will be demonstrations if that happens.”
In 2018, some 100,000 people demonstrated — outraged after then-prime minister Netanyahu voted against a bill to allow gay couples to use surrogacy.
Members of the LGBTQ community and supporters participate in a demonstration against a Knesset bill amendment denying surrogacy for same-sex couples, in Tel Aviv, July 22, 2018. (Tomer Neuberg/Flash90)
Last week, Netanyahu tried to assuage fears and ordered officials in his close circle to tell the press that his government would not allow any change to the status quo regarding LGBT rights. But he did not come out saying it himself.
“This is the time to be angry, not scared,” said Rose. “We can’t be complacent anymore. The privilege of complacency has come to an end. That has to be the message of this election. You have to fight for what you want.”
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Netanyahu is facing electoral catastrophe — and could place Israel in existential peril
For much of Prime Minister Benjamin Netanyahu’s current term, Israelis have been told that they are on the verge of a historic military triumph. Netanyahu has been promising “total victory” since early 2024.
Yet the public mood inside Israel has darkened rather than lifted. After nearly three years of war, none of our enemies have actually been vanquished.
The war with Iran may resume at any moment, and the Iranian regime shows no sign of collapse, or of acquiescence to Israeli-American terms. Iran’s proxies — Hezbollah in Lebanon, Hamas in Gaza, the Houthis in Yemen — all soldier on, certainly bruised but strangely unbowed.
And in Israel, reservists continue to be called up, and soldiers continue to die. Israel has absorbed devastating reputational damage, and the sense that the country has no positive political horizon has hardened into exhaustion.
As that exhaustion translates into polling that should terrify the prime minister, Israel faces an unprecedented internal danger: that Netanyahu will use a state of permanent emergency he has worked to enshrine to cancel upcoming elections altogether.
Over the weekend, the combined party of former prime ministers Naftali Bennett and Yair Lapid passed Netanyahu in many of the polls. Per one poll, the opposition together is now leading him by 71 to 49 seats — a 19-seat swing relative to the current Knesset. And because several small opposition-aligned parties are currently polling below the electoral threshold, the actual anti-government majority in a real election could be larger still.
The direction of travel is clear, the deficit in the polls for the right-religious bloc is huge, and the danger for Netanyahu is real. He faces a plausible future in which he not only loses power in the election that by law must be held by the end of October, but loses decisively.
That’s why many Israelis suspect the election may not occur.
In a recent Hebrew-language column, Haaretz writer Ravit Hecht wrote that when Netanyahu “ is vulnerable and lagging behind, he is at his most dangerous.”.
“Netanyahu will try to ignite an external front — preferably with Iran — in order to manufacture a state of emergency.,” Hecht added. “If he fails to maneuver Donald Trump into renewing the war with Iran, and if that leaves his hands tied in Lebanon or constrains his moves in Gaza, he will inflame the domestic front instead.”
Victory, or emergency
Netanyahu may see two possible lifelines.
The first: political redemption through the kind of overwhelming victory he’s been promising for years. If the Iranian regime were somehow destabilized or collapsed, Netanyahu could argue that history had vindicated him. Enough Israelis who currently view the wars as endless and inconclusive might reinterpret the sacrifices as the painful prelude to a transformative strategic success.
The trouble: years of promising such a victory, with no clear returns, make its likelihood at this late hour very dubious.
The second possibility is darker and more dangerous: capitalizing on a state of permanent emergency.
Israel adopted a siege mentality during the six weeks of war with Iran, weathering mass missile barrages, civilian deaths and profoundly disrupted routines. If those conditions re-emerged under a resumption of war, the government could attempt to argue that national elections are impossible during wartime.
Ministers in Netanyahu’s coalition have spent years preparing the ideological ground for precisely such a claim — and the confrontation it would spark with Israel’s democratic institutions.
Netanyahu’s allies have portrayed the Supreme Court as governed by an illegitimate elite conspiracy. They describe judges not as guardians of the constitutional order but as enemies of the popular will. The current chief justice, Yitzhak Amit, has faced relentless delegitimization campaigns. Senior ministers have openly suggested that court rulings need not be obeyed.
Any attempt to delay or suspend elections would almost certainly trigger intervention by the court. Israel lacks a formal written constitution, but it possesses a dense web of so-called Basic Laws, precedents, and institutional norms that collectively form its constitutional structure. If the government attempted to legislate an indefinite postponement of elections under emergency conditions, the Supreme Court would likely strike the move down.
At that point, Israel could face a constitutional crisis unprecedented in its history: a government claiming emergency authority against a judiciary insisting on democratic continuity.
The government’s position would be strong, because Israel’s institutions are deeply dependent on executive cooperation. If a determined government sought to sabotage the electoral process indirectly while claiming national necessity, the Central Electoral Commission would face immense practical obstacles. At the same time, the Supreme Court lacks any practical enforcement mechanisms
An uncomfortable bargain
None of this means Israeli democracy is doomed. Israeli institutions remain resilient, civil society remains energetic, and public resistance to authoritarian overreach would likely be massive. But it does mean that scenarios once dismissed as hysterical are now being discussed openly by serious observers.
There is, however, another path still faintly visible.
Increasingly, Israeli political circles are discussing the possibility of a negotiated Netanyahu exit from public life. Netanyahu has already sought ways to terminate or freeze his ongoing corruption trial. Under Israeli practice, a presidential pardon generally requires acknowledgment of wrongdoing and some expression of remorse.
If Netanyahu were willing to plead to a reduced offense such as breach of trust rather than the more severe bribery charges, President Isaac Herzog could potentially justify a pardon framed as an act of national reconciliation. Such an arrangement would go against Netanyahu’s pugnacious grain. But he may fear the humiliation of resounding defeat — and the end of any plausible excuses for delaying his trial — even more. It is even conceivable, although far from likely, that he would not choose to cause debilitating harm to Israel.
A bargain — Netanyahu steps back from politics in exchange for a pardon — would outrage many Israelis. Others would see it as a necessary escape hatch from national trauma. And Netanyahu himself would preserve a version of the story he has always wanted to tell: that of a historic statesman stepping aside after defending Israel through existential wars, not a defeated leader dragged from office in disgrace.
His supporters would accept the narrative. His opponents would accept the outcome. Israeli democracy, bruised and deeply damaged, would survive without crossing into outright institutional rupture.
It may be the least destructive option available. Democracies can survive flawed leaders. And Netanyahu, in his obsession with clinging to power, has made the need for this radical option existential.
The post Netanyahu is facing electoral catastrophe — and could place Israel in existential peril appeared first on The Forward.
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Texas Sex Therapist in Congressional Race Calls for Castrating, Incarcerating ‘American Zionists’
Maureen Galindo, a sex therapist running for US Congress in Texas as a Democrat. Photo: Screenshot
The Democratic Party has rushed to condemn one of their own — Maureen Galindo, a candidate for US Congress in Texas’s 35th district — following an Instagram post last weekend in which she threatened Americans who support Israel with castration and internment.
“When Maureen gets into Congress, she’ll write legislation so that all Zionism and support of Zionism is undoubtedly Anti-Semitic, since it’s Zionists harming the Semites,” a post appearing on Galindo’s campaign account read. “She’ll turn Karnes ICE [US Immigration and Customs Enforcement] Detention Center into a prison for American Zionists and former ICE officers for human trafficking. (It will also be a castration processing center for pedophiles which will probably be most of the Zionists).”
The post charged that Galindo’s Democratic primary opponent Johnny Garcia, the public information officer for Bexar County’s Sheriff Javier Salazar, “wants Jews and Mexicans in warehouses.” The campaign asserted that “the billionaire Zionists that control San Antonio and South Texas trafficking networks have coordinated a blitz campaign to propagate the conspiracy that anti-Zionist Maureen Galindo wants Jews in warehouses.”
The Instagram post added that “she would never blame ALL Jews for THE Jews (the Zionists) who have committed genocide on the indigenous Jews (the Semites) of the Middle East. Real Jews are VICTIMS of the Fake Jews (the Zionists).”
Galindo has also claimed that Jews control Hollywood and worship in a “synagogue of Satan,” perpetuating classic antisemitic ideas that have been promoted by both neo-Nazis and far-left extremists.
Democrats have started scrambling to ensure Galindo fails to advance to the general election. The Democratic primary runoff between Galindo, who finished first in the initial vote, and Garcia is scheduled for May 26.
US House Minority Leader Hakeem Jeffries (D-NY) and Democratic Congressional Campaign Committee chair Rep. Suzan DelBene (D-WA) released a statement blaming Republicans for spotlighting Galindo in an effort to damage Democrats politically.
“House Republican leadership must immediately cease propping up this antisemitic candidacy, pull spending in the race, and forcefully condemn these comments,” they said. “This vile language by her is disqualifying and has no place in American politics, and certainly not in the Democratic Party.”
According to Democrats, Republicans are the true backers of Galindo’s campaign, with almost the entirety of her funding coming from a mysterious group called Lead Left which emerged earlier this month. Researchers found metadata on the website which suggested alleged links to WinRed, a Republican fundraising platform.
On Wednesday, Reps. Josh Gottheimer (D-NJ) and Jared Moskowitz (D-FL) released a joint statement on X warning that “if for some reason, Maureen Galindo wins the congressional election in TX-35, as soon as she is sworn in, we will force a vote to expel her every single day we are here. Maureen’s insane, antisemitic views – including putting Americans in concentration camps – have no place in our party or country.”
Texas Democratic Senate nominee James Talarico has announced that he will refuse to campaign with Galindo.
“This antisemitic rhetoric has no place in our politics,” he told the Jewish Telegraphic Agency. “We need leadership in both parties willing to stand up and call out hate wherever it rears its ugly head.”
Rep. Alexandria Ocasio-Cortez (D-NY), called Galindo’s statements “absolutely disgusting.”
“This bigoted garbage and antisemitism should be nowhere near our politics,” she posted on X. “If you’re in TX-35, vote for @johnnygarciatx. And the donors behind the Republican super PAC funding her should be exposed.”
Galindo defended herself in a text exchange with the Texas Tribune, claiming that reports of her Instagram post were “miswording my proposal to sound anti-Jew,” adding, “All politicians who have taken Israeli money should be tried for treason for aiding a foreign national with materials to harm Americans.”
In response to a question about how she felt about Democrats opposing her, she the candidate said that she did not care “what any Zionist-owned politician thinks. They’re exposing themselves as Zionists which will backfire on them.”
Galindo operates a business she has christened Exulted Sex Therapy, which offers to “increase safety, increase pleasure” at rates of $200 hourly for individuals or $250 for couples. She states on her site that “with my judgement-free [sic] and systemic approach to sex and wellness, you’ll learn to navigate various facets of your sexuality: anatomy & physiology, thoughts & emotions, and heart & spirit. Through this integration, you’ll discover the keys that unlock your most authentic pleasures.”
Galindo also encourages her potential clients to “inquire about including an astrology report.” She previously operated Cosmic Kinks Tarot in Bexar County, where she offered “kinky birth chart readings” and “live Tarot therapy” with her goal of empowering individuals “through the exploration of their sexuality, spirituality, and the stars,” according to a report from the Daily Mail.
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Trump Says Negotiations With Iran in Final Stages, Warns of Attacks if Deal Fails
A man holds a flag with a picture of late leader of the Islamic Revolution Ayatollah Ruhollah Khomeini, late Supreme Leader of Iran Ayatollah Ali Khamenei, and Iran’s new Supreme Leader Mojtaba Khamenei, during a rally in Tehran, Iran, April 29, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
US President Donald Trump said on Wednesday that negotiations with Iran were “in the final stages,” while warning of further attacks unless Tehran agrees to a peace deal.
Six weeks since Trump paused Operation Epic Fury for a ceasefire, talks to end the war have shown little progress. Trump said this week he came close to ordering more attacks but held off to allow time for negotiations.
“We’re in the final stages of Iran. We’ll see what happens. Either have a deal or we’re going to do some things that are a little bit nasty, but hopefully that won’t happen,” he told reporters.
“Ideally I’d like to see few people killed, as opposed to a lot. We can do it either way.”
Speaking later at the US Coast Guard Academy, Trump reprised his either/or rhetoric – “We may have to hit them very hard … but maybe not” – and reiterated his determination not to allow Iran to acquire a nuclear weapon.
Tehran, for its part, accused Trump of plotting to restart the war, and threatened to retaliate for any strikes with attacks beyond the Middle East.
“If aggression against Iran is repeated, the promised regional war will extend beyond the region this time,” the Revolutionary Guards said in a statement.
Parliament Speaker Mohammad Baqer Qalibaf, Iran‘s top peace negotiator, said in an audio message on social media that “obvious and hidden moves by the enemy” showed the Americans were preparing new attacks.
‘SUSPICION OVER AMERICA’S PERFORMANCE’
Foreign ministry spokesman Esmaeil Baghaei later said the US had to end its “piracy” against Iranian ships – a reference to the US blockade of Iranian ports.
“Despite the negative record of the other side over the past year and a half, Iran is pursuing the path of negotiations with seriousness and good faith, but it has strong and reasonable suspicion over America’s performance,” Baghaei said.
In the latest diplomatic push, the interior minister of Pakistan – which hosted the only round of peace talks so far and has since been the conduit for messages between the sides – was in Tehran on Wednesday.
Baghaei said Washington and Tehran continued to exchange messages through the Pakistani minister’s mediation.
Iran submitted a new offer to the United States this week. Tehran’s descriptions suggest it largely repeats terms previously rejected by Trump, including demands for control of the Strait of Hormuz, compensation for war damage, lifting of sanctions, release of frozen assets, and the withdrawal of US troops from the area.
Trump has said he called off attacks this week at the last minute in response to requests from several of Iran‘s Gulf neighbors. On Tuesday he said he had been an hour away from ordering strikes.
CHINESE TANKERS CROSS STRAIT
Iran has largely shut the Strait of Hormuz to all ships apart from its own since the US-Israeli campaign began in February, causing a massive disruption to global energy supplies. The US responded last month with its own blockade of Iran‘s ports.
Iran says it aims to reopen the strait to friendly countries that abide by its terms. That could potentially include fees for access, which Washington says would be unacceptable.
Baghaei said late on Wednesday that Iran was ready to establish with Oman a mechanism to ensure sustainable security in the Strait of Hormuz.
Two giant Chinese tankers laden with a total of around 4 million barrels of oil exited the strait on Wednesday. Iran had announced last week, while Trump was in Beijing for a summit, that it had agreed to ease rules for Chinese ships.
South Korea’s foreign minister said on Wednesday a Korean tanker was crossing the strait in cooperation with Iran.
Shipping monitor Lloyd’s List said at least 54 ships had transited the strait last week, about double the previous week. Iran said 26 ships had crossed in the past 24 hours, still only a fraction of the 140 per day before the war.
PRESSURE TO END WAR
Trump is under pressure to end the war, with soaring energy prices hurting his Republican Party ahead of congressional elections in November. Since the ceasefire, his public comments have veered from threats to restart bombing and claims that a deal is close.
The fluctuating US stance has sent oil prices swinging. Benchmark one-month Brent crude futures dropped to $105.76 per barrel late on Wednesday, down 4.95% on the day on revived hopes of a deal.
“Investors are keen to gauge whether Washington and Tehran can actually find common ground and reach a peace agreement, with the US stance shifting daily,” said Toshitaka Tazawa, an analyst at Fujitomi Securities.
The US-Israeli bombing devastated Iran’s military capabilities, including its defense industrial base, before it was suspended in a ceasefire in early April.
Trump and Israeli Prime Minister Benjamin Netanyahu said when they launched the war that their aims were to curb Iran‘s support for regional militias, dismantle its nuclear program, destroy its missile capabilities, and make it easier for Iranians to topple their rulers.
But Iran has so far retained its stockpile of near-weapons-grade enriched uranium, and its ability to threaten neighbors with missiles, drones, and proxy militias, though toa lesser degree. Its clerical rulers, who put down a mass uprising at the start of the year, have faced no sign of organized opposition since the war began.