MNI POLITICAL RISK - Iran War Weighs On Global Economy

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Executive summary:

• President Donald Trump will participate in a round table event at 15:30 ET 19:30 GMT, before delivering remarks to the House Republican annual policy retreat at the Trump Doral resort in Florida at 16:30 ET 20:30 GMT.
• Seven Americans have been confirmed killed in the US war on Iran. Civilian casualties in Iran could be as high as 1,300. Israel’s military campaign against Iran-backed Hezbollah in Lebanon has killed up to 400 people and displaced hundreds of thousands of civilians.
• Israel’s military said it struck around 400 targets in western and central Iran over the weekend, including what appears to be the first attacks on Iran’s energy infrastructure. 
• Iran’s Assembly of Experts elected Mojtaba Khamenei, the 56-year-old son of the late Ayatollah Ali Khamenei, as the country’s new supreme leader. Little is publicly known about Mojtaba, but analysts agree that the appointment is likely to bolster the Iranian Revolutionary Guard (IRGC) as the central node of power within the country.
• G7 economy ministers may respond to surging oil prices with a joint release of emergency oil reserves. White House officials dismissed oil market moves as misplaced "fear and perception" of a prolonged conflict. 
• Chinese Foreign Minister Wang Yi gave no suggested the Middle East conflict could impact the upcoming summit between Trump and Chinese President Xi Jinping.
• The Trump administration is reportedly preparing an economic deal with Cuba. 
• Poll of the Day: Most Americans are against the military action in Iran.

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