Globe at a glance: From Iran resuming oil exports to PM Modi at G7

Iran gets oil lifeline: Iran has been allowed to immediately resume oil and fuel sales under a Trump-backed agreement aimed at ending the war, according to the Wall Street Journal. The deal reportedly includes sanctions waivers covering banking, transportation and insurance services needed to facilitate exports.

PM Modi at G7: Speaking at the G7 Summit in France, Prime Minister Narendra Modi stressed the need for secure maritime routes and safe trade, saying several Indians had lost their lives recently. He urged global cooperation to ensure seafarers can work without fear and supply chains remain protected.

Trump rebukes Israel at G7: At the G7 summit, Trump voiced frustration with Israel’s campaign against Hezbollah in Lebanon, saying the conflict was dragging on and causing excessive civilian deaths. He suggested Syria’s new leadership could do a better job tackling the Iran-backed group.

Neet re-exam: Telegram CEO Pavel Durov criticised India's temporary restriction on the messaging app ahead of the Neet-UG re-exam, saying it unfairly impacts over 150 million users while failing to stop paper leaks, which he claimed had simply shifted to other platforms.

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SpaceX overtakes Amazon: Elon Musk’s SpaceX briefly surpassed both Amazon and Microsoft in market capitalisation amid a post-IPO trading frenzy. Surging investor demand and heavy options activity pushed the company’s valuation above $2.6 trillion, placing it among the world’s most valuable firms.

Bolsonaro’s son jailed: Brazil’s Supreme Court sentenced Eduardo Bolsonaro, son of former president Jair Bolsonaro, to four years and two months in prison for lobbying US officials to impose sanctions and economic pressure on Brazil while his father faced trial over an alleged coup plot.

US-Iran peace MoU: The United States and Iran are set to formally sign their war-ending memorandum of understanding on June 19 at the Bürgenstock resort near Luzern, Switzerland. Swiss officials said the secure mountain venue was jointly proposed by US, Iranian, Pakistani and Qatari mediators.

The big number: Gold held onto recent gains after Donald Trump said the Strait of Hormuz could reopen this week under the US-Iran peace framework. Bullion traded near $4,315 an ounce as investors weighed easing energy risks, lower oil prices and the outlook for interest rates.

Quote of the day: "It was a delight to meet Prime Minister Carney on the sidelines of the Evian G7 Summit. In less than a year, it is our fourth meeting, indicating our commitment to strong India-Canada ties. We reviewed the full range of relations between our nations, notably the ground covered."

- Indian PM Modi at G7 summit

This day in history: On this day in 1885, The Statue of Liberty Arrived in New York. Dismantled into 350 individual pieces and packed into 214 wooden crates, France's iconic gift of friendship arrived in New York Harbor aboard the French ship Isère.