Middle East Escalation: Iran and Israel traded strikes again, with Israel hitting Iran’s Mahshahr petrochemical site and Iran firing missiles toward Gulf neighbors; oil jumped ~5% as markets priced higher risk to Strait of Hormuz flows. Gulf Mediation & Pressure: Pakistan’s interior minister reached Tehran to restart US-Iran talks while the US weighs letting Gulf allies tap frozen Iranian assets for war damages. Defense Tech Contracting: Teledyne won an $11.2M US Army deal for ~45 CBRN sensor drone kits, aiming to speed detection and mapping of hazardous zones. AUKUS Submarine Reality Check: Australia’s Virginia-class plan is being reshaped by US/UK constraints, raising questions about whether the “leap” is turning into a compromise. Space & Sensors Procurement: Observable Space secured a $94M Space Force contract for mobile, off-grid robotic optical telescopes to boost space domain awareness. EU Defense Focus: EU defense ministers met in Cyprus to coordinate maritime security, sanctions enforcement tied to freedom of navigation, and continued support for Ukraine. Armenia Politics: Nikol Pashinyan’s Civil Contract claimed a parliamentary win near 50%, signaling continued EU-leaning while balancing ties with Russia. US-UK Base Strategy: Reports say Trump is considering buying the Chagos Islands to secure Diego Garcia, potentially bypassing UK sovereignty plans. Industrial Safety: Hanwha Aerospace CEO booked over a June 1 plant explosion that killed five and injured two. Market Watch: India’s Rajesh Exports faced SEBI allegations and a sharp share drop, while defense stocks in India traded mixed.