Germany’s Russia Question Is No Longer About Gas
The rise of the AfD in eastern Germany is usually presented as an electoral story. It is becoming an economic one. Its 44% result in...
Tag: Russia
Europe’s Next Inflation Shock Is Sitting in Its Gas Tanks
Europe’s inflation problem is changing shape again. Oil dominated the first phase of this year’s energy shock. Natural gas may dominate the next one. European...
Ukraine Is Entering the Escalation Trap
The war in Ukraine is moving into a more dangerous phase, not because Russia is suddenly winning or because nuclear war has become likely, but...
To Isolate Iran, Washington Must Confront the World
Scott Bessent has promised something extraordinary. The United States, he says, is preparing measures against Iran that would be unprecedented in the history of the...
The Next Supply Shock Is Already Underway
The next inflation shock may not begin with oil. It may begin with diesel shortages in Russia, dry fields in Europe and a growing inability...
The Black Sea Is Becoming the World’s New Supply Chokepoint
For most of the war, the economic significance of the Black Sea was measured through energy. Oil terminals, pipelines, refineries and Russia’s ability to finance...
The World Is Running Out of Safe Energy Routes
The latest developments in the Middle East make one thing increasingly clear: the energy shock is no longer only about oil prices. It is about...
America’s Iran War Is Becoming Trump’s Political Trap
For months, Donald Trump attempted to project absolute confidence over the Iran conflict. The war would be short. Iran would bend under pressure. Oil markets...
NATO, Tariffs and the Slow Divorce of the Atlantic Alliance
The United States is no longer simply asking Europe to spend more on defence. It is starting to make Europe pay for disobedience. Donald Trump’s...