The US is demanding that Iran issue a public statement that all channels of the Strait of Hormuz are open to shipping and that they will not attack transiting civilian vessels. US officials warned that failure to do so by Tehran would result in consequences.

Also this weekend, Russia and Ukraine attacked each other’s key grain export gateways overnight after shipping across the Sea of Azov was disrupted the previous day, triggering a spike in wheat prices. Ukraine targeted four vessels with drones in Taganrog Bay in the Sea of Azov following a strike on the area on Friday that disrupted shipping through a key export corridor.

On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- Bloomberg Economics Defense Lead Becca Wasser and Geoeconomics Lead Dina Esfandiary, on what the US is demanding of Iran and the future of the Strait of Hormuz.

- Representative Michael McCaul of Texas (R) on the ground in Ukraine, where President Volodymyr Zelenskyy is meeting with US lawmakers while hoping to obtain Patriot Missiles.

- Bloomberg Pursuits Staff Writer Hannah Elliott, on the millions of Americans living with tinnitus.

Plus, David, Christina, and Lisa Mateo play Pointed: The News Quiz for Risk Takers.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

See omnystudio.com/listener for privacy information.

Lindsey Graham, the South Carolina senior senator and foreign policy hawk who changed from a Donald Trump skeptic to one of the US president’s strongest allies, died on Saturday. He was 71. The cause of death was “a brief and sudden illness,” Graham’s office said in a post on X. Emergency personnel responded to a call for “cardiac arrest” at Graham’s Capitol Hill home on Saturday night, NBC reported, citing police scanner audio.

Also this weekend, the US struck Iran for a third time in a week, prompting retaliatory attacks on at least five Arab nations. Iran said the Hormuz strait would now be closed “until further notice,” but the US Central Command denied that, saying the waterway was still open to all vessels.

On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- Bloomberg Congressional Reporter Erik Wasson on the death of Senator Lindsey Graham.

- Bloomberg Mideast Correspondent Abeer Abu Omar and ABC News State Department Reporter Shannon Kingston, on the US military hitting 140 targets in Iran after Iran's navy attacked a merchant ship passing through the Strait of Hormuz.

- Former US Ambassador to NATO Kurt Volker, who says the NATO summit strengthens support for Ukraine and sends a tougher message to Russian President Vladimir Putin.

- Bloomberg Intelligence Senior Analyst for US Banks, Herman Chan, and Investopedia Editor in Chief, Caleb Silver, on the big bank earnings coming this week, and Netflix's struggle with slowing growth.

- Erin Lyall, creator of the "Food Under Fire" blog, on the food that can be found in conflict zones around the world.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

See omnystudio.com/listener for privacy information.

President Donald Trump gave a speech on the National Mall after thunderstorms delayed the start of his remarks, celebrating the nation's 250th anniversary and highlighting his own political priorities.
Trump declared communism a "loser" and pushed for passage of a measure to restrict mail-in voting and require the use of voter identification for elections, while also inviting veterans to the stage.

Also this weekend, Trump Accounts arrive with a powerful promise: Give a child a head start, let decades of compound growth do the work and potentially build millions of dollars over a lifetime. Whether they live up to that potential will depend less on the account itself than on how families use the option alongside other available savings plans.

On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- Bloomberg News White House Correspondent Jeff Mason, Yale School of Management Lecturer Gautam Mukunda, and Politico's New York Playbook Co-Author, Madison Fernandez, on President Trump's July 4th address, and how Democratic Socialists factor into the party.

- Bloomberg News Personal Finance Reporter Sarah Foster, on how parents can get the most out of the newly-launched Trump Accounts.

- Randall Williams, Bloomberg Business of Sports Reporter, on Team USA's run in the FIFA World Cup.

Plus, David, Christina, and Lisa Mateo play Pointed: The News Quiz for Risk Takers.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

See omnystudio.com/listener for privacy information.