On Friday, May 22, 2026, international developments between the United States and Iran indicate cautious movement towards diplomatic solutions.US President Donald Trump expressed determination to reclaim Iran’s stockpile of highly enriched uranium, despite Tehran’s refusal to surrender the material, labelling the country as 'crazy'.

Meanwhile, Iran is collaborating with Oman to potentially formalise control over maritime traffic through the Strait of Hormuz via a permanent toll system.

In parallel, Israel has deported hundreds of foreign activists who attempted to breach its naval blockade of Gaza, after national security minister Itamar Ben-Gvir posted a controversial video taunting the activists.

Domestically, in Australian politics, Prime Minister Anthony Albanese signalled willingness to reverse a previous budget measure imposing a 30 per cent minimum tax on discretionary testamentary trusts, referred to by the Coalition as a 'death tax', although he remains firm against changing capital gains tax policy.

These developments highlight ongoing geopolitical tensions in the Middle East alongside domestic fiscal policy debates in Australia, reflecting both international security concerns and internal economic policy deliberations.