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Trump’s Peace Board Faces Cash Crunch, Stalling Gaza Plan, Sources Say

USPresident Donald Trump, Indonesia’s President Prabowo Subianto, Albania’s Prime Minister Edi Rama, Saudi Minister of State for Foreign Affairs, Cabinet Member, and Climate Envoy Adel Al-Jubeir, Azerbaijani President Ilham Aliyev, and Jordan’s Foreign Minister Ayman Safadi attend the inaugural Board of Peace meeting at the US Institute of Peace in Washington, DC, US, Feb. 19, 2026. Photo: REUTERS/Kevin Lamarque

Donald Trump’s Board of Peace has received only a tiny fraction of the $17 billion pledged for Gaza, preventing the US president from pushing ahead with his plan for the shattered Palestinian enclave’s future, sources told Reuters.

Ten days before US-Israeli attacks on Iran plunged the region into war, Trump hosted a conference in Washington that saw Gulf Arab states pledge billions for the governance and reconstruction of Gaza after a two-year pulverization by Israel.

The plan envisages large-scale rebuilding of the coastal enclave after the disarmament of Palestinian terrorist group Hamas – whose attacks on Israel triggered the assault on Gaza – and the withdrawal of Israeli troops.

The funding pledges were also meant to pay for the activities of a nascent National Committee for the Administration of Gaza (NCAG), a US-backed group of Palestinian technocrats intended to assume control of Gaza from Hamas.

‘NO MONEY CURRENTLY AVAILABLE’

One of the sources, a person with direct knowledge of the peace board‘s operations, said that out of ten countries who pledged funds, only three – the United Arab Emirates, Morocco, and the US itself – had contributed funding.

The source said funding so far was under $1 billion but did not give more details. The Iran war “has affected everything,” exacerbating previous funding difficulties, the source said.

NCAG could not enter Gaza due to both funding and security issues, the source added. Even after a ceasefire was agreed last October, Israeli attacks have killed at least 700 people in Gaza according to Hamas-controlled health officials there, while terrorist attacks have killed four soldiers according to Israel.

The second source, a Palestinian official familiar with the matter, said the board informed Hamas and other Palestinian factions that NCAG is unable to enter Gaza right now due to a lack of funding.

“No money is currently available,” the official cited board envoy Nickolay Mladenovas as informing Palestinian groups.

Hamas has repeatedly said it is ready to hand over governance to NCAG, led by Ali Shaath, a former deputy minister with the Palestinian Authority, which currently exercises limited self-rule in parts of the West Bank.

Shaath’s committee is meant to assume control of Gaza‘s ministries and run its police force.

He and his 14 committee members have been cloistered in a hotel in Cairo under supervision by American and Egyptian handlers, said a diplomatic source.

Representatives for the Board of Peace and NCAG did not immediately respond to a request for comment.

Rehabilitation of Gaza, where four-fifths of buildings were destroyed in two years of Israeli bombardments, has been projected by global institutions to cost around $70 billion.

The stuttering plan for Gaza‘s future echoes other ambitious initiatives by Trump, who has sought to project himself as the world’s peacemaker but has struggled to end the Ukraine war as he said he would and is seeing this week’s truce with Iran come under immediate severe strain.

DISARMAMENT TALKS

Egypt, which has been hosting the disarmament talks, invited Hamas for more meetings on Saturday, according to a source in the Islamist group.

The ceasefire halted full-blown war but left Israeli troops in control of a depopulated zone comprising well over half of Gaza, with Hamas in power in a narrow coastal strip.

Trump’s board has been leading negotiations with Hamas and other Palestinian factions on disarmament. Israel says Hamas must lay down arms before it pulls troops out of Gaza; Hamas says it will not comply without guarantees of Israel’s withdrawal and a halt to firing in Gaza.

The diplomatic source familiar with the disarmament talks said they remained in deadlock and feared Israel was looking for an excuse to relaunch a full-scale offensive on Gaza.

Israeli military officials have said they are preparing for a swift return to full-scale war if Hamas does not lay down its weapons.

The Gaza war began with Hamas’s Oct. 7, 2023, ⁠attacks ​on Israel that killed 1,200 people.

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Israel’s Eurovision Delegation Departs for Austria Led by Singer Noam Bettan

Noam Bettan, Israel’s representative for the Eurovision Song Contest 2026, poses in this undated handout photo. Photo: Courtesy of Kan, Timor Elmalach/Handout via REUTERS

The Israeli delegation for the 70th Eurovision Song Contest, led by Israel’s representative in the competition Noam Bettan, departed the Jewish state on Friday morning and traveled to Austria for the annual event taking place this month.

Israel’s national airline El Al shared photos on Facebook of Bettan aboard the plane taking him to Vienna, where he will compete in the Eurovision with his original song “Michelle.” The song features lyrics in Hebrew, French, and English. Bettan, 27, will perform the track at the Eurovision with five dancers on stage, Israel’s national broadcaster Kan announced.

The Ra’anana native, whose parents are French, will represent his home country in the Eurovision this year after winning the latest season of the Israeli televised singing competition “Hakochav Haba” (“The Next Star”) in January.

“I am very happy and excited to represent our beautiful country in the biggest music competition in Europe, on the biggest stage in the world,” Bettan said before taking off on Friday morning, as reported by Kan. “I am coming with an open heart, and I want to give all the light and love I receive from everyone, back to the whole world … We have given our souls to bring the most amazing performance possible on stage with lots of surprises. There is going to be great joy on stage! It is a great privilege and responsibility, and I will do everything to represent with honor.”

El Al CEO Levi Halevi said he is confident Bettan will be successful in the competition. “Noam is going to represent us in a challenging time when it is of great significance to represent the country with honor around the world,” he added.

The first semi-finals for the Eurovision, in which Bettan will perform, will take place on May 12, followed by another semi-final on May 14. The grand final will be held on May 16.

Thirty-five countries are participating from around the world. Ireland, Slovenia, and Spain have announced they will not air the 70th Eurovision Song Contest or compete because of Israel’s participation. Iceland and the Netherlands will also not compete in the Eurovision this year due to Israel’s inclusion, but they will broadcast the competition.

Eurovision Song Contest Asia will launch in November 2026 and will be hosted in Bangkok, Thailand.

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Albanian Prime Minister Promotes Kanye West’s Upcoming Concert in New 60,000-Seat Stadium

Ye, formerly known as Kanye West. Photo: BANG Showbiz via Reuters Connect

Albanian Prime Minister Edi Rama confirmed on Thursday an upcoming concert in the country by Ye, formerly known as Kanye West, despite a number of the rapper’s previous shows being canceled across Europe because of his past antisemitic behavior.

Rama shared a video on Facebook that features footage of the Grammy winner during his previous concerts, along with a message that announces the date of the concert in Tirana, Albania. The “Flashing Lights” singer will perform one night only on July 11.

The Yeezy founder will also reportedly have a temporary venue built for him in the city that will be called “Eagle Stadium.” It is expected to hold approximately 60,000 people and will be located near the Tirana-Durra axis, Albania’s Minister of Tourism, Culture, and Sports Blendi Gonxhja confirmed in a Facebook post, which was also shared on the ministry’s official Facebook page.

The Ministry of Culture noted that the concert will be paid for through ticket sales, but some partnered institutions will “facilitate” its progress, according to BalkanInsight.

“In every aspect, it is our obligation to welcome and facilitate the development of such events that bring numerous benefits to tourism and the economy,” the ministry reportedly said. It added that the concert “will have an extraordinary impact on the promotion of tourism and the local economy.”

The United Kingdom, France, Poland, and Switzerland have all recently canceled Ye’s concerts amid controversy over his past antisemitic actions and comments, which include selling T-shirts that feature a Nazi swastika, expressing admiration for Nazi leader Adolf Hitler, releasing a song titled “Heil Hitler,” and posting several antisemitic comments about Jews on X. Australia banned Ye from entering the country last year.

Italy is still set to have Ye headline its Hellwatt Festival in July, but Pina Picierno, vice president of the European Parliament and senior member of Italy’s Democratic Party, said the government should take action to prevent the concert from taking place. “The United Kingdom denied the visa. France effectively prevented the Marseille concert. Italy, meanwhile, is just staying idle with 68,000 tickets sold, as if nothing had happened,” Picierno told the local newspaper La Gazzetta di Reggio.

Ye apologized for his antisemitic and pro-Nazi comments in January in an advert in the Wall Street Journal. He attributed his offensive behavior to manic episodes related to untreated bipolar disorder and declared, “I am not a Nazi or an antisemite.”

As part of his world tour, Ye is set to perform this summer in India, Turkey, The Netherlands, Spain, and Portugal.

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Iran Hands Over New Proposal for Talks With US to End War

An Iranian flag lies amidst the rubble of a building of the Sharif University of Technology, which was damaged in a strike, amid the US-Israeli conflict with Iran, in Tehran, Iran, April 7, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS

Tehran has submitted its latest proposal for negotiations with the United States, Iranian state media and a Pakistani official said on Friday, a move that could break a deadlock in efforts to end the Iran war.

The official, involved in Pakistani mediation over the war, said Pakistan had received the proposal late on Thursday and had forwarded it to the US.

Neither the official nor Iranian state news agency IRNA gave details, and the White House declined to comment, while saying negotiations continued. Global oil prices, which remain well above $100 a barrel, eased following news of the proposal.

The closure of the Strait of Hormuz has caused unprecedented disruption to energy markets, choking off 20% of the world’s oil and gas supplies and causing a record rally in oil prices.

The blockade of the vital sea channel has also increased concerns that there will be an economic downturn. The US Navy is blocking exports of Iranian crude oil, and on Friday the US Treasury warned shippers that they risked sanctions if they paid tolls to Iran to pass through the strait.

A ceasefire has been in place since April 8 but reports that US President Donald Trump was to be briefed on plans for new military strikes to compel Iran to negotiate had pushed global oil prices up to a four-year high at one point on Thursday.

Iran has activated air defenses and plans a wide response if attacked, having assessed that there will be a short, intensive US strike, possibly followed by an Israeli attack, two senior Iranian sources told Reuters on condition of anonymity.

‘TREACHEROUS AGGRESSION’

Washington has not said what its next steps are. Trump said on Tuesday he was unhappy with the previous proposal from Iran, and Pakistan has not set a date for new talks on ending a war that has killed thousands, mainly in Iran and Lebanon.

After US and Israeli airstrikes on Feb. 28, Iran fired at US bases, infrastructure, and US-linked companies in Gulf states, while the Iran-backed Lebanese terrorist group Hezbollah launched missiles at Israel, which responded with strikes on Lebanon.

Underlining the concerns of the Gulf states, UAE presidential adviser Anwar Gargash said the “collective international will and provisions of international law” were the primary guarantors of freedom of navigation through the strait.

“And, of course, no unilateral Iranian arrangements can be trusted or relied upon following its treacherous aggression against all its neighbors,” Gargash wrote.

Trump faces a formal US deadline on Friday to end the war or make the case to Congress for extending it under the 1973 War Powers Resolution.

The date looks set to pass without altering the course of the conflict after a senior administration official said that, for the purposes of the resolution, hostilities had terminated due to the April ceasefire between Tehran and Washington.

Financial and energy markets remained on edge because of concerns about the impasse over negotiations and worries that there could be a prolonged closure of the Strait of Hormuz.

IRAN SAYS NOT TO EXPECT QUICK RESULTS FROM TALKS 

Iranian Foreign Ministry spokesman Esmaeil Baghaei cautioned on Thursday against expecting quick results from talks.

A senior official of Iran‘s Revolutionary Guards said any new US attack on Iran, even if limited, would usher in “long and painful strikes” on US regional positions, while Aerospace Force Commander Majid Mousavi was quoted by Iranian media as saying: “We’ve ​seen what happened to your regional bases; we will see the same thing happen to your warships.”

Trump repeated on Thursday that Iran would not be allowed to have a nuclear weapon, and said the price of gasoline – an important concern for his Republican Party before midterm elections in November – would “drop like a rock” as soon as the war ended.

Iran says its nuclear program is solely for civilian purposes.

The conflict has aggravated Iran‘s economic plight, which could head toward total collapse. However, the regime looks able to survive a standoff for now, despite the US blockade that has curtailed its energy exports.

Axios news site reported that one plan to be shared with Trump during a briefing by top US military leaders that was scheduled for Thursday involved using ground forces to take over part of the strait to reopen it to commercial shipping. Trump is also considering extending the US blockade or declaring a unilateral victory, officials have said.

Washington did not immediately announce any details of its plans.

In a sign that the US was also envisaging a scenario where hostilities cease, a State Department cable due to be delivered orally to partner nations by May 1 invited them to ‌join a new coalition, called the Maritime Freedom Construct, to enable ​ships to navigate the strait.

France, Britain, and others have held talks on contributing to such a coalition but said they would help to open the strait only when the conflict ends.

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