Road from Damascus

Israel, Syria, Ukraine, Russia, Spain, Afghanistan, China, and Hong Kong.

The Conversion of Saint Paul on the road to Damascus, Adam Elsheimer, c. 1598, oil on copper, Städel Museum, Frankfurt.

Hello,

Here are the five things you need to know today:

• ISRAEL. SYRIA. The US tries to solve two intractable conflicts at once.

• UKRAINE. RUSSIA. A summit is eyed in another historically awkward place.

• SPAIN. Sanchez fights fires on all fronts.

• AFGHANISTAN. CHINA. A trilateral with the Taliban is a big gamble.

• HONG KONG. CHINA. Proof you may not need freedom for free markets.

And don’t forget to connect with me on LinkedIn.

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ISRAEL. SYRIA. Barrack’s nirvana

The US tries to solve two intractable conflicts at once.

Syria and Israel held direct talks in Paris, Syrian state media said Tuesday. US envoy Tom Barrack said he would press Israel for a ceasefire after Lebanon agreed to Hezbollah's disarmament. Israel said it was weighing a Hamas truce offer.

INTELLIGENCE. Barrack, a former private equity baron, is rivalling Steve Witkoff for original diplomacy. Not all observers are impressed, but like others in Trump's orbit, such as Jarrod Kushner on the Abraham Accords, he might perform a miracle. Using links to the UAE, Barrack is said to be opening new backchannels. Israeli Strategic Affairs Minister Ron Dermer, who reportedly met Syria's foreign minister in Paris, is said to have secretly visited Abu Dhabi.

FOR BUSINESS. A grand bargain involving Syria and Lebanon, supported by the Gulf, may overcome obstacles to a bilateral accord between Israel and the Palestinians. For the US, it could also trump any Ukraine victory lap should that remain out of reach. Yet the added complications – including the interests of the region’s Druze, Alawite and Kurdish minorities – could make it worse. And Israel's intransigence is increasingly less about security than politics.

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UKRAINE. RUSSIA. Budapest momentum

A summit is eyed in another historically awkward place.

The White House was planning a trilateral summit with Vladimir Putin and Volodymyr Zelensky in Budapest, Politico said Tuesday. Switzerland said it would grant immunity to Putin should he visit for bilateral peace talks with Ukraine.

INTELLIGENCE. Donald Trump has asked JD Vance, Marco Rubio, and Steve Witkoff