Morning Briefing: March 8, 2026

ISTANBUL

Here’s a rundown of all the news you need to start your Sunday, including US President Donald Trump announcing a new military coalition across the Americas to combat transnational cartels; Turkish President Recep Tayyip Erdogan warning that attacks on Iran could undermine regional and global stability; and Iranian President Masoud Pezeshkian saying Tehran will halt attacks on neighboring countries unless they launch strikes against Iran first.

TOP STORIES

• Trump announces new military coalition to combat cartels across Americas

US President Donald Trump announced the creation of a new military coalition aimed at combating powerful criminal gangs and cartels across the Americas, saying the initiative is necessary to restore law and order in the Western Hemisphere.

Speaking at the Shield of Americas Summit, Trump said the new alliance, formally called the America’s Counter-Cartel Coalition (ACCC), will deepen military cooperation among regional partners to counter transnational criminal organizations that he described as a growing threat to regional and global security.

• Erdogan warns attacks on Iran threaten regional, global stability

Turkish President Recep Tayyip Erdogan spoke with UK Prime Minister Keir Starmer, highlighting concerns over the recent escalation following US-Israeli attacks on Iran.

“Türkiye is closely monitoring the process that began with the attacks on Iran. If the interventions are prolonged, they could cause significant damage to regional and global stability. There are still measures that can be taken to build a dialogue platform, and our peace-focused efforts continue,” Erdogan stressed during a call, according to a statement by the Turkish Communications Directorate.

• Iran is halting attacks on neighboring countries unless they launch strikes first: President

Iran’s president said Tehran will refrain from attacking neighboring states unless attacks are launched against Iran from their territories, state-run Press TV reported.

“The temporary leadership council announced yesterday that there will be no more attacks on neighboring countries and no missile launches unless attacks originate from those countries against Iran,” Masoud Pezeshkian said in a televised address to the Iranian people.

He apologized to neighboring countries amid rising regional tensions, saying Iran has “no intention of invading other countries.”

NEWS IN BRIEF

• The Trump administration approved a possible $151.8 million weapons sale to Israel, invoking “emergency” authority to waive congressional review requirements as Washington and Israel continue to attack Iran.
• Even a large-scale US military offensive would be unlikely to overthrow Iran’s military and clerical power structure, according to a classified National Intelligence Council report.
• Heavy explosions were heard in Erbil in northern Iraq amid escalating regional tensions, according to an Anadolu correspondent.
• Turkish President Recep Tayyip Erdogan spoke on the phone with the President of Iraq’s Kurdish Regional Government (KRG) Nechirvan Barzani, discussing the latest situation in the region.
• Bafel Talabani, leader of the Patriotic Union of Kurdistan (PUK) in Iraq, said that despite mounting tensions in Iran, he does not see a change of regime occurring at this stage.
• Chinese President Xi Jinping warned that there is "no place" for those who are "disloyal" to the ruling Communist Party, stressing "fully leveraging the unique strengths of enhancing political loyalty" in the military, state media reported.
• The United Arab Emirates said it detected 229 missiles and 1,305 drones since the start of “Iranian” attacks on Feb. 28.
• Thousands of anti-war demonstrators marched through central London, calling for an immediate halt to US and Israeli military operations against Iran, and an end to arms sales to Israel.
• Iranian President Masoud Pezeshkian said facilities in the region used to launch attacks against Iran are considered “legitimate targets” for Iranian defensive operations amid US-Israeli attacks.
• The Israeli military announced it targeted Imam Hossein University in Tehran, which is affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC).
• Türkiye’s Communications Directorate condemned CNN International for broadcasting a “misleading” map that misrepresents regions inhabited by Kurds, calling the channel’s editorial framing “seriously concerning."
• Guinea has dissolved 40 political parties for failures to meet legal obligations, according to a decree read on national television.
• Iran announced that a Marshall Islands-flagged oil tanker in the Persian Gulf was targeted for being “linked to the US.”
• Ukraine and Russia accused each other of carrying out overnight airstrikes that killed 10 people and injured 10 others in Ukrainian territory, while injuring one person in Russia.
• At least 15 militants were killed in two separate security operations in Pakistan’s southwestern Balochistan province, the Pakistan Army said.
• Indonesia has suspended all discussions on the proposed Board of Peace initiative launched by US President Donald Trump, citing the military escalation in the Middle East, media reports said.
• The American military carried out a targeted strike against an alleged narco-terror network in Ecuador as part of a joint operation with Ecuadorian forces, according to US Southern Command (SOUTHCOM)
• The US’ largest aircraft carrier, the USS Gerald R. Ford, has reached the Red Sea after passing through the Suez Canal, the US Naval Institute (USNI) reported.

BUSINESS & ECONOMY

• US approves $151.8M weapons sale to Israel, waiving congressional review

The Trump administration approved a possible $151.8 million weapons sale to Israel, invoking “emergency” authority to waive the congressional review requirements as Washington and Israel continue to attack Iran.

According to a statement from the State Department’s Bureau of Political-Military Affairs, the proposed sale includes 12,000 BLU-110A/B general purpose, 1,000-pound bomb bodies, along with engineering, logistics and technical support services.

“The Secretary of State has determined and provided detailed justification that an emergency exists that requires the immediate sale to the Government of Israel,” the agency said, waiving the congressional review requirements under Section 36(b) of the Arms Export Control Act.

• Kuwait announces ‘precautionary’ cut in oil production amid repeated Iranian attacks

Kuwait announced a “precautionary” reduction in crude oil production and refining operations following repeated Iranian attacks against the country.

The Kuwait Petroleum Corporation said the adjustment was taken in response to “repeated and hostile” Iranian attacks on Kuwait, according to the Kuwait News Agency.

The corporation stressed that the reduction is “purely precautionary” and will be reviewed as the situation develops.

The company remains fully prepared to restore production levels once conditions allow, it added.

• US stocks end week lower as fear index soars

US stock markets closed with losses as investors evaluated fresh economic data and its impact on interest rate paths.

The Dow fell 0.95%, or 453.19 points, to close at 47,501.55.

The Nasdaq composite declined 1.59%, or 361.31 points, to 22,387.68, while the S&P 500 slipped 1.33%, or 90.69 points, to 6,740.021.

The Volatility Index (VIX), often referred to as the market’s “fear index,” climbed 24.17% to 29.49.