The United States and Iran inked a long-awaited provisional ceasefire deal on June 17, 2026. After months of uncertainty, the people of the Gulf region can, potentially, breathe a sigh of relief, and global markets look set to be boosted by the reopening of the Strait of Hormuz.
What about those who have endured the war’s spillover in Lebanon? After all, the memorandum of understanding signed is not just a peace agreement between the U.S. and Iran alone. Rather, on Tehran’s insistence, the deal is intended to provide a cessation of hostilities on all fronts – including in Lebanon.
kAm!C6D:56?E s@?2=5 %CF>A :D k2 9C67lQ9EEADi^^HHH]C6FE6CD]4@>^H@C=5^>:55=6\62DE^ECF>A\:C2?\562=\D2JD\=@F5\4=62C\E92E\E69C2?\H@?E\92G6\?F4=62C\H62A@?\a_ae\_e\`e^Qm7C2>:?8 E96 562=k^2m 2D 2 H:? 7@C E96 &]$] 2?5 E96 4=@D:?8 @7 E96 =2E6DE 492AE6C :? (2D9:?8E@?’D |:55=6 t2DE 6?E2?8=6>6?E] qFE xDC26=: !C:>6 |:?:DE6C q6?;2>:? }6E2?J29F[ H9@D6 4@F?ECJ H2D k2 9C67lQ9EEADi^^HHH]>:55=662DE6J6]?6E^?6HD^FD\92D\C67FD65\D92C6\:C2?\562=\E6IE\:DC26=\C6A@CEQmC6A@CE65=J D9FE @FE @7 E96 5:A=@>2E:4 AC@46DDk^2m[ >2J 92G6 @E96C A=2?D E92E H@F=5 492==6?86 %CF>A’D 2FE9@C:EJ :? E96 C68:@?]k^Am
kAmp7E6C ?6HD @7 E96 6>6C8:?8 562= 3C@<6 @? yF?6 `c[ }6E2?J29F 2=>@DE :>>65:2E6=J 2??@F?465 E92E k2 9C67lQ9EEADi^^HHH]7C2?46ac]4@>^6?^>:55=6\62DE^a_ae_e`d\:DC62=\E@\DE2J\:?567:?:E6=J\:?\=2?5D\D6:K65\:?\=632?@?\DJC:2\2?5\82K2\D2JD\5676?46\>:?:DE6CQmxDC26= H:== @44FAJ {632?@? “:?567:?:E6=Jk^2m]” xDC26= E96? 7@==@H65 FA H:E9 2 k2 9C67lQ9EEADi^^HHH]2=;2K66C2]4@>^?6HD^a_ae^e^`e^:DC26=:\DEC:<6D\<:==\7@FC\:?\D@FE96C?\=632?@?\2>:5\462D67:C6\E2=<DQm7C6D9 H2G6 @7 2:CDEC:<6D E92E <:==65 7@FC A6@A=6 :? {632?@?k^2m]k^Am
kAmp 4=62C=J 5:DA=62D65 %CF>A AF3=:4=J k2 9C67lQ9EEADi^^HHH]J@FEF36]4@>^H2E49nGl\I`r2`J~&"&Qm4C:E:4:K65 E9@D6 24E:@?Dk^2m 2?5 6G6? DF886DE65 E92E $JC:2 4@F=5 8@ :? 2?5 5:D>2?E=6 k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^5@6D\96K3@==29\C6AC6D6?E\=632?@?\2?5\H92E\:>A24E\H:==\E96\562E9\@7\=@?8E:>6\=6256C\92DD2?\?2DC2==29\92G6\ac__eaQmw6K3@==29k^2m[ E96 %69C2?\324<65 {632?6D6 8C@FA E92E 92D 7@C ?62C=J 7:G6 564256D 7@F89E xDC26= :? D@FE96C? {632?@?]k^Am
kAm(:E9 xDC26= 4@?E:?F:?8 E@ 3@>3 {632?@? 2?5 k2 9C67lQ9EEADi^^HHH]2>?6DEJ]@C8]2F^=632?@?\:DC26=\C25:42==J\6IA2?5D\FD6\@7\F?=2H7F=\>2DD\6G24F2E:@?\@C56CD\2?5\4@>>:ED\H2C\4C:>6\@7\F?=2H7F=\EC2?D76C^QmC6>@G6 {632?6D6 4:E:K6?D 7C@> E96:C =2?5Dk^2m – :? 567:2?46 @7 (2D9:?8E@?’D H:D96D – E96 72E6 @7 E96 &]$]\xC2? 562= :? {632?@? C6>2:?D @3D4FC6]k^Am
kAmpD 2 k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^AC@7:=6D^>:C6:==6\C636:K\`d_bd_dQmD49@=2C @7 |:55=6 t2DE DEF5:6Dk^2m[ x 762C E96 28C66>6?E =62G6D >@C6 BF6DE:@?D 23@FE E96 56=:42E6 D:EF2E:@? :? {632?@? E92E :E D@=G6D] |@C6@G6C[ 2?J DA=:E :? xDC26=\&]$] A@=:4J 2:>D @G6C {632?@? >2J 92G6 8C2G6 :>A=:42E:@?D 7@C %CF>A’D 56\6D42=2E:@? 2EE6>AED H:E9 xC2? 2?5 2=D@ 92>A6C 9@A6D 7@C 2 A6246 562= 36EH66? {632?@? 2?5 xDC26= 52JD 367@C6 k2 9C67lQ9EEADi^^E:>6]4@>^2CE:4=6^a_ae^_e^_c^96K3@==29\C6;64ED\:DC26=\=632?@?\462D67:C6\28C66>6?E\DEC:<6D^QmC6AC6D6?E2E:G6D @7 3@E9 4@F?EC:6D A=2? E@ >66Ek^2m :? (2D9:?8E@?]k^Am
k9amp 567:2?E xDC26=k^9am
kAmw:DE@CJ D9@HD E92E 2?J &]$] 72:=FC6 E@ C6:? :? xDC26=: >:=:E2CJ 24E:@? ?@CE9 @7 :ED 3@C56C 42? 92G6 5:D2DEC@FD 4@?D6BF6?46D]k^Am
kAmp D:>:=2C D46?2C:@ 92AA6?65 324< :? `hga 27E6C xDC26= =2F?4965 “k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^:DC26=\92D\:?G2565\=632?@?\D:I\E:>6D\:?\E96\A2DE\d_\J62CD\2\E:>6=:?6\@7\6G6?ED\ac_`dfQm~A6C2E:@? !6246 7@C v2=:=66k^2m[” :?G25:?8 {632?@? 2?5 :>A@D:?8 2 3CFE2= D:686 @? q6:CFE E92E k2 9C67lQ9EEADi^^HHH]H2D9:?8E@?A@DE]4@>^2C49:G6^A@=:E:4D^`hga^_h^_b^H2C\42DF2=E:6D\AFE\2E\cg___\:?\=632?@?^47dhbhc`\e_ef\cabh\2cdb\f`35427h632_^Qm<:==65 @G6C `f[___ {632?6D6 2?5 !2=6DE:?:2? 4:G:=:2?D 2?5 7:89E6CDk^2m]k^Am
k7:8FC6mk:>8 2=ElQ%H@ >6? :? DF:ED D92<6D 92?5D]Q DC4lQ9EEADi^^:>286D]E964@?G6CD2E:@?]4@>^7:=6D^fcaf`c^@C:8:?2=^7:=6\a_ae_e`g\df\h`eI3_];A8n:I=:3lC3\c]`]_U2>AjBlcdU2>Aj2FE@l7@C>2EU2>AjHlfc_U2>Aj7:El4=:AQ ^mk7:842AE:@?m!C6D:56?E s@?2=5 %CF>A D92<6D 92?5D H:E9 xDC26=: !C:>6 |:?:DE6C q6?;2>:? }6E2?J29F 5FC:?8 2 ?6HD 4@?76C6?46 2E |2C\2\{28@ :? =2E6 a_ad] k2 9C67lQ9EEADi^^?6HDC@@>]2A]@C8^56E2:=^xC2?(2C}6E2?J29FDv2>3=6^4`g_ed3fhc7dc6363ef5ddegb7d2e234^A9@E@Qmp! !9@E@^p=6I qC2?5@?k^2mk^7:842AE:@?mk^7:8FC6m
kAmx? 2? 2?8CJ A9@?6 42== :? pF8FDE `hga[ &]$ !C6D:56?E #@?2=5 #6282? 2D<65 xDC26=: !C:>6 |:?:DE6C |6?2496> q68:? E@ DE@A E96 962GJ 3@>32C5>6?ED @7 q6:CFE] “|6?2496>[ E9:D :D 2 9@=@42FDE[” k2 9C67lQ9EEADi^^HHH]C6282?7@F?52E:@?]@C8^C@?2=5\C6282?^H9:E6\9@FD6\5:2C:6D^5:2CJ\6?ECJ\_g`a`hgaQm#6282? C642==65 D2J:?8k^2m]k^Am
kAmqFE xDC26= :8?@C65 E96 &]$] 56>2?5D 7@C 2 462D67:C6] pD 2 C6DF=E[ #6282? D6?E 2 k2 9C67lQ9EEADi^^HHH]9:DE@CJ]?2GJ]>:=^3C@HD6\3J\E@A:4^H2CD\4@?7=:4ED\2?5\@A6C2E:@?D^>:55=6\62DE^=632?@?]9E>=Qm2? :?E6C?2E:@?2= A6246<66A:?8 7@C46 :?E@ {632?@?k^2m] r@>A@D65 @7 uC6?49[ xE2=:2? 2?5 p>6C:42? EC@@AD[ E9:D >F=E:?2E:@?2= 7@C46 :? {632?@? H2D E2D<65 E@ 24E 2D 2 3F776C K@?6 36EH66? 76F5:?8 A2CE:6D 2?5 AC@G:56 A@CE D64FC:EJ E@ !2=6DE:?:2? 7:89E6CD =62G:?8 {632?@?]k^Am
kAm}@E @?=J 5:5 xDC26= :8?@C6 #6282?’D 2EE6>AED 2E 56\6D42=2E:@?[ :E 2=D@ 567:65 E96 >F=E:?2E:@?2= 7@C46[ 92C2DD65 :ED EC@@AD 2?5 6?52?86C65 E96:C =:G6D[ k2 9C67lQ9EEADi^^HHH]HC>62]@C8^`hgb\2AC:=\c^=6EE6C\7C@>\>2C:?6\4@>>2?52?E\32CC@H\E@\5676?D6\D64C6E2CJ\H6:?36C86C]9E>=Qm244@C5:?8 E@ &]$] >:=:E2CJ =6256CDk^2m]k^Am
kAmxC@?:42==J[ H96? xDC26= :?G2565 q6:CFE :? `hga 2?5 E9C62E6?65 E96 p>6C:42? EC@@AD[ :E 5:5 D@ FD:?8 k2 9C67lQ9EEADi^^HHH]H2D9:?8E@?A@DE]4@>^2C49:G6^A@=:E:4D^`hga^_f^a_^AC6D:56?E\92=ED\D9:A>6?E\@7\4=FDE6C\D96==D\E@\:DC26=^2632c`54\32eb\c3a3\g3e7\h`7bb7eech7h^QmH62A@?D DFAA=:65 3J (2D9:?8E@?k^2m 2D A2CE @7 E96 EH@ 4@F?EC:6D’ =@?8\DE2?5:?8 5676?D6 2CC2?86>6?E]k^Am
k9amw:DE@CJ C6A62ED :ED6=7k^9am
kAmp D:>:=2C D46?2C:@ :D F?7@=5:?8 E@52J]k^Am
kAmyFDE =:<6 #6282? 2?5 q68:?’D 4=2D9 :? `hga[ %CF>A 2?5 }6E2?J29F 2C6 6?82865 :? H92E =@@<D =:<6 2 5625=@4<] x? 2 C646?E A9@?6 42== 23@FE {632?@?[ %CF>A H2D C6A@CE65=J @G6C962C5 J6==:?8 2E }6E2?J29F[ “k2 9C67lQ9EEADi^^HHH]E:>6D@7:DC26=]4@>^ECF>A\D2:5\E@\J6==\2E\?6E2?J29F\J@FC6\7<:?8\4C2KJ\J@F5\36\:?\AC:D@?\:7\?@E\7@C\>6^Qm*@F’C6 7–<:?8 4C2KJ] *@F’5 36 :? AC:D@? :7 ?@E 7@C >6k^2m[” H9:=6 AC6DD:?8 E96 xDC26=: 8@G6C?>6?E E@ D42=6 324< :ED @A6C2E:@? :? {632?@?]k^Am
kAm%@52J[ 2D :? `hga[ xDC26= 4@?E:?F6D E@ 36?67:E 7C@> k2 9C67lQ9EEADi^^HHH]>:=:E2CJ]4@>^52:=J\?6HD^a_ae^_`^b`^FD\2AAC@G6D\>2;@C\?6H\2C>D\D2=6D\:DC26=\H@CE9\eef\3:==:@?\2?5\D2F5:\2C23:2\H@CE9\h\3:==:@?]9E>=Qm&]$] DFAA@CE 2?5 2C>D D2=6Dk^2m] r@?8C6DD 92D 6G6? >@G65 E@ k2 9C67lQ9EEADi^^HHH]2=;2K66C2]4@>^?6HD^a_ae^d^b_^FD\4@?8C6DD\25G2?46D\2>6C:42?\:DC26=:\>:=:E2CJ\:?E68C2E:@?\A=2?Qm:?E68C2E6 &]$] 2?5 xDC26=: >:=:E2C:6Dk^2m]k^Am
kAmp=D@[ ;FDE =:<6 `hga[ E96 p>6C:42? AC6D:56?E :D 4@?D:56C:?8 k2 9C67lQ9EEADi^^HHH]4??]4@>^a_ae^_e^`e^H@C=5^ECF>A\DJC:2\=632?@?\96K3@==29\2?2=JD:D\:?E=QmD6?5:?8 7@C6:8? EC@@ADk^2m :?E@ {632?@?]k^Am
kAmqFE 56DA:E6 E96 p>6C:42? >:=:E2CJ 2?5 A@=:E:42= DFAA@CE[ xDC26= k2 9C67lQ9EEADi^^E969:==]4@>^A@=:4J^:?E6C?2E:@?2=^dh`ddf_\:DC26=\567:6D\ECF>A\:C2?\DEC:<6^Qm4@?E:?F6D E@ 3CFD9 2D:56k^2m 2?J &]$ A@=:4J E92E 2:>D E@ A=246 =:>:ED @? :ED C68:@?2= A@H6C[ 67764E:G6=J D9@H:?8 2 8=2C:?8 =:>:E2E:@? @7 &]$] 5@>:?2?46 @G6C E96 C68:@?]k^Am
k7:8FC6mk:>8 2=ElQp >2? H2=<D 3J 2 8:2?E 3:==3@2C5]Q DC4lQ9EEADi^^:>286D]E964@?G6CD2E:@?]4@>^7:=6D^fcaf_g^@C:8:?2=^7:=6\a_ae_e`g\df\AdC6Ih];A8n:I=:3lC3\c]`]_U2>AjBlcdU2>Aj2FE@l7@C>2EU2>AjHlfc_U2>Aj7:El4=:AQ ^mk7:842AE:@?mp >2? A2DD6D 3J 2 8:2?E 3:==3@2C5 :? D@FE9 q6:CFE E92E D9@HD E96 =2E6 xC2?:2? =6256C pJ2E@==29 p=: z92>6?6:[ 46?E6C[ 2?5 xC2?:2? $FAC6>6 {6256C pJ2E@==29 |@;E232 z92>6?6:[ H:E9 pC23:4 HC:E:?8 E92E C625Di ‘%92?< J@F xC2?]’ k2 9C67lQ9EEADi^^?6HDC@@>]2A]@C8^56E2:=^{632?@?xDC26=xC2?(2C^gd2``63e37c3ch2f33d422hdh`c47f`f^A9@E@Qmp! !9@E@^wFDD6:? |2==2k^2mk^7:842AE:@?mk^7:8FC6m
k9am{632?@? 2D 2? 27E6CE9@F89Ek^9am
kAm(96? k2 9C67lQ9EEADi^^HHH]2=;2K66C2]4@>^?6HD^a_ae^c^g^FD\:C2?\462D67:C6\562=\H92E\2C6\E96\E6C>D\2?5\H92ED\?6IEQmE96 &]$] 2?5 xC2? :?:E:2==J 28C665 E@ 2 EH@\H66< 462D67:C6k^2m :? pAC:= a_ae[ E96C6 H2D 4@?7FD:@? @G6C H96E96C {632?@? H2D :?4=F565 :? E92E 562=] (9:=6 xC2? 2DD6CE65 {632?@?’D :?4=FD:@?[ k2 9C67lQ9EEADi^^HHH]56>@4C24J?@H]@C8^a_ae^c^h^:DC26=:06D42=2E:@?0:?0=632?@?QmxDC26= 56?:65 :E 2?5 4@?E:?F65 E@ 3@>3 E96 4@F?ECJk^2m]k^Am
kAm{632?@? 3642>6 A2CE @7 E96 6BF2E:@? 3642FD6 @7 w6K3@==29’D 24E:@?D 27E6C E96 &]$]\xDC26=: 2EE24< @? xC2? :? =2E6 u63CF2CJ a_ae] $:>:=2C E@ 9@H E96 %69C2?\324<65 8C@FA k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^96K3@==29\568C2565\H62<6?65\3FE\?@E\J6E\5:D2C>65\56DE23:=:K6D\=632?@?\@?46\282:?\affbafQmG@H65 D@=:52C:EJ H:E9 w2>2Dk^2m 27E6C xDC26= 3@>365 v2K2 :? C6DA@?D6 E@ !2=6DE:?:2? >:=:E2?ED’ k2 9C67lQ9EEADi^^HHH]3C:E2??:42]4@>^6G6?E^~4E@36C\f\2EE24<Qm2EE24< @? xDC26=: D@:= @? ~4E]f[ a_abk^2m[ w6K3@==29 DECF4< xDC26= H96? xC2? H2D 9:E]k^Am
kAmxE C6:8?:E65 E96 D:>>6C:?8 w6K3@==29\xDC26=: H2C] %@52J[ k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^:DC26=:\E9C62ED\E@\@44FAJ\@C\2??6I\D@FE9\=632?@?\5FDE\@77\2\564256D\@=5\A=2J3@@<\afhf_cQmxDC26= @44FA:6D D@FE9 {632?@? 2?5 :D E9C62E6?:?8 E@ 2??6I :Ek^2m]k^Am
kAm%96 &]$]\C6=62D65 k2 9C67lQ9EEADi^^HHH]E968F2C5:2?]4@>^H@C=5^a_ae^;F?^`f^ECF>A\FD\:C2?\H2C\>@F\562=QmE6IE @7 E96 =2E6DE xC2? A6246 A=2?k^2m k2 9C67lQ9EEADi^^HHH]2=;2K66C2]4@>^?6HD^a_ae^e^c^=632?@?D\=2E6DE\ECF46\H92E\:D\5:776C6?E\7C@>\E96\2AC:=\28C66>6?EQm6IA=:4:E=J :?4=F56Dk^2m {632?@?]k^Am
kAm(9:=6 E92E H:== :?EC@5F46 D6C:@FD A@:?ED @7 7C:4E:@? H:E9 xDC26=: k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^:DC26=:\E9C62ED\E@\@44FAJ\@C\2??6I\D@FE9\=632?@?\5FDE\@77\2\564256D\@=5\A=2J3@@<\afhf_cQm56D:8?D @? E96 4@F?ECJk^2m[ E96 A6@A=6 :? {632?@?[ E@@[ H:== 92G6 >2?J BF6DE:@?D 2?5 4@?46C?D]k^Am
kAmx 36=:6G6 E96 562= H:== 36 D66? 2D 2 H6=4@>6 DE6A 3FE 2=D@ 2 A@E6?E:2= 3=@H E@ {632?@?’D D@G6C6:8?EJ] (9:=6 E96 E6IE 2:>D E@ AC@E64E {632?@?’D “E6CC:E@C:2= :?E68C:EJ[” :E 5@6D ?@E C676C6?46 xDC26=’D 24EF2= H:E95C2H2= 7C@> E96D6 =2?5D[ 2?5 :E :D F?4=62C H96E96C E9:D :DDF6 H:== 36 5:D4FDD65 :? 7FEFC6 ?68@E:2E:@?D 36EH66? xDC26= 2?5 {632?@? @C 36EH66? E96 &]$ 2?5 xC2?]k^Am
kAmuFCE96C>@C6[ E96 ?6H 562= :8?@C6D {632?@?’D 677@CED E@ 7C66 :ED6=7 7C@> xC2?’D :?7=F6?46 :? E96 4@F?ECJ E9C@F89 :ED w6K3@==29 2==J]k^Am
kAmx? 2? F?AC64656?E65 >@G65 :? |2J[ {632?@? 7:=65 2 7@C>2= k2 9C67lQ9EEADi^^6?8=:D9]2=2C23:J2]?6E^}6HD^>:55=6\62DE^a_ae^_d^`b^=632?@?\7:=6D\F?\4@>A=2:?E\282:?DE\:C2?\@G6C\:?E6C76C6?46\96K3@==29:DC26=\H2CQm4@>A=2:?E 282:?DE xC2? 2E E96 &?:E65 }2E:@?D $64FC:EJ r@F?4:=k^2m[ 5:C64E=J 244FD:?8 %69C2? @7 G:@=2E:?8 E96 k2 9C67lQ9EEADi^^=682=]F?]@C8^:=4^E6IED^:?DECF>6?ED^6?8=:D9^4@?G6?E:@?D^h0`0`he`]A57Qm':6??2 r@?G6?E:@? @? s:A=@>2E:4 #6=2E:@?Dk^2m 7@C :?E6C76C:?8 :? :ED D@G6C6:8? 564:D:@?D 2?5 5C288:?8 E96 4@F?ECJ :?E@ H2C]k^Am
kAmx? DA:E6 @7 k2 9C67lQ9EEADi^^6?8=:D9]22HD2E]4@>^2C23\H@C=5^dadcdfb\96K3@==29\6D42=2E6D\:ED\C96E@C:4\E9C62E6?D\=632?6D6\8@GEQmw6K3@==29’D @A6? E9C62ED 282:?DE E96 {632?6D6 8@G6C?>6?Ek^2m[ {632?6D6 C6AC6D6?E2E:G6D 96=5 E96 7:CDE @7 k2 9C67lQ9EEADi^^HHH]=6>@?56]7C^6?^:?E6C?2E:@?2=^2CE:4=6^a_ae^_d^`c^=632?@?\2?5\:DC26=\>66E\:?\H2D9:?8E@?\7@C\E@F89\?68@E:2E:@?D\F?56C\8C@H:?8\AC6DDFC60efdbccf0c]9E>=QmD6G6C2= A=2??65 5:C64E ?68@E:2E:@?D H:E9 xDC26=: 4@F?E6CA2CED :? (2D9:?8E@?k^2m]k^Am
k7:8FC6mk:>8 2=ElQp E2?< 7:C6D :? 2 3=24< 2?5 H9:E6 A9@E@]Q DC4lQ9EEADi^^:>286D]E964@?G6CD2E:@?]4@>^7:=6D^fcaf`e^@C:8:?2=^7:=6\a_ae_e`g\f`\<CFIJ>];A8n:I=:3lC3\c]`]_U2>AjBlcdU2>Aj2FE@l7@C>2EU2>AjHlfc_U2>Aj7:El4=:AQ ^mk7:842AE:@?mxDC26=: EC@@AD 4@G6C E96:C 62CD 2D E96J 7:C6 E96:C p>6C:42?\>256 9@H:EK6C :? yF?6 `hga] k2 9C67lQ9EEADi^^?6HDC@@>]2A]@C8^56E2:=^x$#pt{xx}'p$x~}`hga^dgdd3b7_3_gccda`h4g`f5h5bc736bee^A9@E@Qmp! !9@E@^w2CCJ z@F?52<;:2?k^2mk^7:842AE:@?mk^7:8FC6m
k9am{632?@?[ $JC:2 2?5 2 C@4<J A2E9 7@CH2C5k^9am
kAmx?5665[ E96 ?6H &]$]\xC2? 562= 42? 36 :?E6CAC6E65 2D 2 DE6A 324< 7@C E96 DEC6?8E9 @7 2? 2=C625J H62< {632?6D6 DE2E6] x?5:C64E=J[ E96 562= 46>6?ED xC2?’D 4@?EC@= @? E96 4@F?ECJ’D A@=:E:4D 2?5[ 3J 6IE6?D:@?[ w6K3@==29]k^Am
kAmuFCE96C>@C6[ 2?5 ;FDE =:<6 :? `hga[ E96 &]$] :D AC@A@D:?8 2 7@C6:8? 7@C46 E@ 6?E6C {632?@? 2?5 96=A 6?5 E96 G:@=6?46] x? 724E[ k2 9C67lQ9EEADi^^HHH]H2D9:?8E@?:?DE:EFE6]@C8^A@=:4J\2?2=JD:D^FD\D9@F=5\?@E\6?4@FC286\DJC:2\6?E6C\=632?@?Qm%CF>A 92D ?@H EH:46 >6?E:@?65 E96 A@DD:3:=:EJ @7 $JC:2 A=2J:?8 2 C@=6 :? {632?@?k^2m E@ 6?E6C 2?5 6I64FE6 “2 DFC8:42= 2EE24< @? w6K3@==29]”k^Am
kAmxE :D F?4=62C H96E96C E96 &]$] AC6D:56?E :D FD:?8 E96D6 4@>>6?ED ;FDE 2D 2 H2J E@ AC6DDFC6 xDC26= @G6C {632?@? @C H96E96C E96C6 :D 2? 24EF2= A=2? E92E :?4=F56D 2 $JC:2? C@=6 :? E96 4@F?ECJ’D 7FEFC6] qFE ;FDE E96 >6?E:@? @7 $JC:2? :?E6CG6?E:@? k2 9C67lQ9EEADi^^HHH]C6FE6CD]4@>^3FD:?6DD^26C@DA246\5676?D6^DJC:2\D6?5D\E9@FD2?5D\EC@@AD\=632?@?\3@C56C\D@FC46D\D2J\a_ae\_b\_b^Qm6G@<6D E92E 4@F?ECJ’D =@?8E:>6 @44FA2E:@?k^2m @7 {632?@?]k^Am
kAmx? 724E[ 2E E96 6?5 @7 E96 {632?6D6 4:G:= H2C :? `hh`[ $JC:2 6DE23=:D965 H92E 2>@F?E65 E@ k2 9C67lQ9EEADi^^HHH]9CH]@C8^C6A@CED^`hha^(#ha^|t(a\_b]9E>Qm23D@=FE6 A@=:E:42=[ >:=:E2CJ 2?5 64@?@>:4 9686>@?J @G6C {632?@?k^2m[ 5FC:?8 H9:49 k2 9C67lQ9EEADi^^HHH]?JE:>6D]4@>^a_ad^_f^`h^H@C=5^>:55=662DE^=632?@?\DJC:2?\@44FA2E:@?\56E2:?66D]9E>=QmE9@FD2?5D @7 {632?6D6 5:D2AA62C65k^2m]k^Am
kAm%96 2DD2DD:?2E:@? @7 {632?6D6 !C:>6 |:?:DE6C #27:4 w2C:C: :? a__d 2?5 E96 k2 9C67lQ9EEADi^^?G52E232D6]DH2CE9>@C6]65F^4@?E6?E^=632?6D6\42>A2:8?\56>@4C24J\:?56A6?56?46\:?E:7252\@C\4652C\C6G@=FE:@?\a__dQmr652C #6G@=FE:@? E92E 7@==@H65k^2m 7@C465 E96 $JC:2? EC@@AD @FE @7 {632?@?]k^Am
kAm%96 724E E92E E96 ?6H =6256CD9:A :? $JC:2 :D $F??: 255D 2?@E96C 4@>A=:42E:@? 5F6 E@ k2 9C67lQ9EEADi^^HHH]4;A>6]@C8^7D0_aeQm{632?@?’D 56=:42E6 D64E\32D65 32=2?46 @7 A@H6Ck^2m] x7 s2>2D4FD :?E6C76C6D :? {632?@?[ D64E2C:2? G:@=6?46 4@F=5 7@==@H[ 2D E96 $JC:2? >:=:E2CJ AC6D6?46 H@F=5 =:<6=J 36 :?E6CAC6E65 2D 5:C64E @AA@D:E:@? E@ w6K3@==29’D $9::E6 7:89E6CD]k^Am
kAm%9:D :D A2CE:4F=2C=J ECF6 D:?46 p9>65 2=\$92C22’D 8@G6C?>6?E H2D 244FD65 @7 k2 9C67lQ9EEADi^^?6HD]F?]@C8^6?^DE@CJ^a_ad^_g^``edechQmG:@=6?46 282:?DE C6=:8:@FD >:?@C:E:6D :? $JC:2[ :?4=F5:?8 E96 p=2H:E6Dk^2m – 2 C6=:8:@FD D64E 4=@D6 E@ $9:2 xD=2> – 2?5 k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^E96\5CFK6\2C6\2\E:89E=J\<?:E\4@>>F?:EJ\2?5\E96\G:@=6?46\:?\DJC:2\:D\EC:886C:?8\762CD\:?\=632?@?\ae`hb`QmE96 sCFK6k^2m]k^Am
kAm(96E96C $JC:2 A=2JD 2 564:D:G6 C@=6 :? {632?@? 8@:?8 7@CH2C5[ E96C6 :D =:EE=6 5@F3E E92E E96 7FEFC6 @7 E96 &]$]\xC2? 562= 56A6?5D @? 3@E9 xC2? 2?5 xDC26=’D 24E:@?D] $@ 72C[ xDC26= D66>D F?:?E6C6DE65 :? 7@==@H:?8 %CF>A’D =6256CD9:A :? E96 C68:@? 2?5 :D 862C:?8 FA E@ A=2J 2 DA@:=6C C@=6]k^Am
kAmu@C ?@H[ 2?5 23D6?E ?6H 3C62<E9C@F89D[ {632?@?[ H:E9 :ED D@G6C6:8?EJ 2=>@DE 6?E:C6=J 6C@565[ D66>D 56DE:?65 E@ C6>2:? 2E E96 >6C4J @7 :ED =2C86C ?6:893@CD :? xC2?[ xDC26= 2?5 $JC:2 – 2?5 E96 6CC2E:4 :?G@=G6>6?E @7 E96 &]$] 23C@25]k^Am
kAmk6>m%9:D 2CE:4=6 :D C6AF3=:D965 7C@> k2 9C67lQ9EEAi^^E964@?G6CD2E:@?]4@>^FDnFE>0D@FC46l{66U2>AjFE>0>65:F>lC6=2E65\=:?<U2>AjFE>042>A2:8?lC6=2E65\=:?<\_U2>AjFE>04@?E6?El2CE:4=6\agdbc_Qm%96 r@?G6CD2E:@?k^2m[ 2 ?@?AC@7:E[ :?56A6?56?E ?6HD @C82?:K2E:@? 3C:?8:?8 J@F 724ED 2?5 ECFDEH@CE9J 2?2=JD:D E@ 96=A J@F >2<6 D6?D6 @7 @FC 4@>A=6I H@C=5] xE H2D HC:EE6? 3Ji k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^AC@7:=6D^>:C6:==6\C636:K\`d_bd_dnFE>0D@FC46l{66U2>AjFE>0>65:F>lC6=2E65\=:?<U2>AjFE>042>A2:8?l3J=:?6\=:?<U2>AjFE>04@?E6?El2CE:4=6\agdbc_Qm|:C6:==6 #636:Kk^2m[ k6>mk2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^:?DE:EFE:@?D^5:4<:?D@?\4@==686\baggnFE>0D@FC46l{66U2>AjFE>0>65:F>lC6=2E65\=:?<U2>AjFE>042>A2:8?l3J=:?6\=:?<U2>AjFE>04@?E6?El2CE:4=6\agdbc_Qms:4<:?D@? r@==686k^2mk^6>mk^6>mk^Am
kAmkDEC@?8m#625 >@C6ik^DEC@?8mk^Am
kF=mk=:mk2 9C67lQ9EEAi^^E964@?G6CD2E:@?]4@>^ECF>AD\FD\:C2?\462D67:C6\562=\:D\2\4@DE=J\C6EFC?\E@\AC6H2C\4@?5:E:@?D\2?5\C6D@=G:?8\?F4=62C\BF6DE:@?D\H:==\CF?\:?E@\E96\:?5:G:D:3:=:EJ\AC@3=6>\agdahanFE>0D@FC46l{66U2>AjFE>0>65:F>lC6=2E65\=:?<U2>AjFE>042>A2:8?lC6=2E65\=:?<_U2>AjFE>04@?E6?El2CE:4=6\agdbc_Qm%CF>A’D &$‑xC2? 462D67:C6 562= :D 2 4@DE=J C6EFC? E@ AC6H2C 4@?5:E:@?D – 2?5 C6D@=G:?8 ?F4=62C BF6DE:@?D H:== CF? :?E@ E96 ‘:?5:G:D:3:=:EJ AC@3=6>’k^2mk^=:mk=:mk2 9C67lQ9EEAi^^E964@?G6CD2E:@?]4@>^:DC26=:\E9C62ED\E@\@44FAJ\@C\2??6I\D@FE9\=632?@?\5FDE\@77\2\564256D\@=5\A=2J3@@<\afhf_cnFE>0D@FC46l{66U2>AjFE>0>65:F>lC6=2E65\=:?<U2>AjFE>042>A2:8?lC6=2E65\=:?<`U2>AjFE>04@?E6?El2CE:4=6\agdbc_QmxDC26=: E9C62ED E@ @44FAJ @C 2??6I D@FE9 {632?@? 5FDE @77 2 564256D‑@=5 A=2J3@@<k^2mk^=:mk=:mk2 9C67lQ9EEAi^^E964@?G6CD2E:@?]4@>^:?\:C2?\H2CD\D925@H\:DC26=D\C6?6H65\=632?@?\42>A2:8?\C:D<D\C6A62E:?8\72:=65\=6DD@?D\2?5\@44FA2E:@?D\@7\E96\A2DE\agc_danFE>0D@FC46l{66U2>AjFE>0>65:F>lC6=2E65\=:?<U2>AjFE>042>A2:8?lC6=2E65\=:?<aU2>AjFE>04@?E6?El2CE:4=6\agdbc_Qmx? xC2? H2C’D D925@H[ xDC26=’D C6?6H65 {632?@? 42>A2:8? C:D<D C6A62E:?8 72:=65 =6DD@?D – 2?5 @44FA2E:@?D – @7 E96 A2DEk^2mk^=:mk^F=m
kA 4=2DDlQ7:?6\AC:?EQmk6>mkDA2?m|:C6:==6 #636:K :D 277:=:2E65 H:E9 E96 p>6C:42? #65 rC@DD]k^DA2?mk^6>mk^Am
kAmk:>8 DC4lQ9EEADi^^4@F?E6C]E964@?G6CD2E:@?]4@>^4@?E6?E^agdbc_^4@F?E]8:7n5:DEC:3FE@Cl=66Q DEJ=6lQ96:89Ei`AIjH:5E9i`AIjQ 2=ElQQ ^mk^Am
