ANALYSIS: Fortress Europe — How the June 2026 Summit Buried the Peace Dividend

Introduction: The continent rearming at a forced march

A summit like no other

On June 18 and 19, 2026, in Brussels, the twenty-seven heads of state and government of the European Union held what some observers do not hesitate to call a war summit. Behind the carefully weighed diplomatic phrases — "security," "resilience," "competitiveness" — there is, in reality, a program of historic proportions: massive rearmament, industrial mobilization, the transformation of civilian infrastructure for military purposes, and the projection of an Europe ready for combat by 2030. The watchword is now laid out in black and white in the official conclusions of the European Council: Europe's defensive preparation must be "decisively ramped up" before the end of the decade.

This isn’t some semantic drift. It’s a doctrinal break. The European Union, born from the desire to never again let war tear the continent apart, has now set as its existential priority becoming a credible military power once again. Russia is officially designated as an "existential challenge" — existential challenge — for the EU. This vocabulary, borrowed from NATO strategists, marks the end of an era: that of the peace dividend, that naïve conviction which persisted from 1991 to 2022 that commercial prosperity would render wars obsolete.

Thirty years of illusion settled in forty-eight hours

For three decades, Western democracies slashed their military budgets, privatized their defense industries, closed bases, and disbanded regiments. They chose trade over tanks, treaties over troops. This bet — reasonable on paper — shattered on February 24, 2022, against the raw reality of a large-scale invasion. Since then, the EU has been trying to catch up on thirty years of underinvestment in just a few budget cycles. The June 2026 summit represents the maximum acceleration of this catch-up effort.

The conclusions adopted in Brussels call on Member States to intensify their efforts "with renewed urgency" to deliver "at the necessary pace and scale." This phrasing is unusual for an institution that ordinarily prefers circumlocution. It signals that European leaders themselves perceive the gap between the real threat and current capabilities — and that they no longer have the luxury of stalling.

The "war-ready 2030" doctrine: What it means in concrete terms

Named and quantified capability priorities

For the first time, the European Council conclusions explicitly list the priority capability areas on which the Union intends to concentrate its collective efforts. The list is telling: drone and counter-drone systems, early warning, air defense, long-range precision strike capabilities — a technocratic term for the ability to destroy distant targets with guided munitions — and finally space assets and services. This is not a wish list. These are the areas where "capability coalitions" must concretely form between Member States.

The Council calls on Member States to "resolutely accelerate work across all capability coalitions" and invites the European Defence Agency to continue supporting coordination. The implicit goal is to fill the critical capability gaps identified since 2022: the lack of artillery ammunition, insufficient missile defense systems, dependence on American satellites, and the absence of a European battlefield surveillance architecture. The June 2026 summit does not resolve these gaps — but it creates the political and legislative framework to fill them before 2030.

The 2030 horizon: A deadline, not a metaphor

The 2030 date is not symbolic. It corresponds to the horizon set by the 2030 Defense Readiness Roadmap, adopted at the October 2025 summit, which established precise milestones: capability coalitions formed by late 2026, 40% joint procurement by 2027, contracts covering critical gaps by 2028, and full delivery via the SAFE instrument by 2030. The June 2026 summit fits into this trajectory and accelerates its pace.

What "war-ready" means operationally is the ability for the EU — or a coalition of its members — to deter, defend, and if necessary respond to large-scale armed aggression on European soil without total dependence on the United States. The 2026 U.S. National Defense Strategy stated it unequivocally: Washington no longer considers the defense of Europe its primary strategic obligation. The Europeans have heard the message.

Military mobility: Transforming Europe into a war logistics zone

Roads, rails, bridges, and ports aligned with troop movement

One of the most concrete — and least publicized — aspects of the June 2026 summit concerns military mobility. The Council is asking co-legislators to reach an agreement by the end of 2026 on the proposed regulation for military mobility. This proposal, presented in November 2025, aims to create a European military mobility area: a harmonized framework allowing for the movement of troops and heavy equipment across the Union in a few days — or even hours in an emergency — where current bureaucratic procedures sometimes took weeks.

Concretely, this means aligning roads, railways, bridges, ports, airports, and border crossings with the requirements of heavy military transport. Priority corridors — particularly on the eastern flank — will need to be reinforced to support vehicles exceeding 60 tons. More than 500 infrastructure "hotspots" have been identified that require investments estimated at €100 billion. The European Commission has already obtained general Council agreement on its negotiating mandate — a key step reached on June 18, 2026 itself.

The "Military Schengen": A silent revolution

The project bears an evocative name among experts: the "Military Schengen". Just as the Schengen Area abolished border controls for people and goods, the European military mobility area aims to remove administrative and regulatory obstacles to the movement of armed forces. The proposal notably introduces a maximum three-day limit for processing cross-border military movement authorizations, with fast-track lanes for emergency operations.

This isn't just a bureaucratic reform. It is the physical and regulatory transformation of an entire continent to meet the imperatives of modern warfare. According to the European Commission, "To ensure credible deterrence, the European Union must be able to move troops quickly and effectively when needed." This phrase, sober and technical, summarizes a profound mutation: Europe's civilian infrastructure is becoming, de facto, dual-use infrastructure — civilian in times of peace, military in times of crisis.

Russia as an "existential challenge": A designation with major strategic consequences

What the word "existential" means in international law

The conclusions of the June 2026 summit reiterate the designation of Russia as an "existential challenge for the European Union" — a phrasing that was already used during the October 2025 summit but which now takes on a new operational dimension. Qualifying a foreign power as an "existential" threat in an official EU document is not trivial: it places Russia in a separate category, above simple "security challenges," and justifies responses of proportional intensity.

This framing has concrete implications for European law and budget mobilization. An existential threat authorizes extraordinary spending, emergency procedures, and derogations from the usual rules of the internal market. It also legitimizes — politically, if not legally — an expansive interpretation of Article 42(7) of the Treaty on European Union, the mutual assistance clause which obliges Member States to "aid and assist" any Member State that is the victim of armed aggression on its territory. The Cypriot presidency has moreover indicated that work is underway to "give more concrete substance" to this clause.

The Russian drone in Romania: The eastern flank's alarm bell

The designation of an existential threat is not theoretical. On May 29, 2026, a Russian drone loaded with explosives crashed into a residential building in Romania — an EU and NATO member state. The Council conclusions condemn this incident in the strongest terms and express "the European Union's full solidarity with Romania and all Member States affected by similar incidents." The Council calls for the acceleration of the "Eastern Flank Watch" project, intended to strengthen surveillance and protection of the Union's eastern borders.

This incident illustrates the concrete and immediate dimension of the threat. It’s not a strategic hypothesis for the 2030 horizon — it’s an enemy drone falling on an apartment in an EU country in May 2026. Faced with this reality, the calls to "resolutely accelerate" defensive preparation are no longer rhetorical postures. They correspond to an operational urgency felt on the eastern flank, where the Baltic States, Poland, Romania, and Finland face very real, daily Russian pressure — cyberattacks, sabotage, flyovers, and disinformation.

The defense budget: From 218 to 392 billion, and this is just the beginning

The explosion of European military spending

The numbers are staggering. According to the 2030 Defense Roadmap, European defense spending rose from €218 billion in 2021 to €392 billion in 2025 — an 80% increase in four years. And the projected trajectory is even steeper: the "ReArm Europe" program is mobilizing up to €800 billion through new financing mechanisms, including the SAFE instrument. If we add "dual-use" military infrastructure spending, experts estimate the total could reach 5% of GDP in some Member States — roughly an additional €215 billion annually.

The June 2026 summit calls on Member States to go further. The Council "welcomes the substantial and continuous increase in Member States' defense spending" but specifies that this increase "must be accompanied by reinforced efforts to invest better and faster together." Translation: spending more is necessary but not sufficient. The money must go toward joint and coordinated procurement, not toward disparate national orders that would reproduce the inefficiencies of the past. The goal of 40% joint procurement by 2027 is central to this logic.

The EU budget itself is being reoriented toward defense

The new multiannual financial framework for 2028-2034, negotiations for which began during the summit, will be deeply marked by the defense priority. With a Commission proposal hovering around €2 trillion, discussions focus on reorienting traditional spending — agriculture, cohesion — toward defense, border security, strategic industrial policy, and "strategic investments." German Chancellor Friedrich Merz set the stage a week before the summit in a statement to the Bundestag: the population must "accept restrictions in other areas as well" to finance rearmament.

This zero-sum logic — fewer structural funds, more defense funds — will provoke major political tensions in the coming years. Southern and Eastern EU states, which largely depend on cohesion funds, will not accept it without concessions. But the direction of travel is clear: the EU budget itself is becoming an instrument of military power.

Drones at the heart of the new war doctrine

Ukraine as a technological laboratory for the EU

The June 2026 summit places drones and counter-drone systems at the top of the capability priority list. This is no accident: the war in Ukraine has irrefutably demonstrated that drones — from small commercial quadcopters to sophisticated cruise missiles — have transformed the nature of modern warfare. Ukraine has become the largest military technology laboratory in contemporary history, and the EU intends to systematically learn its lessons.

The Council conclusions explicitly state that "Europe must continue to learn from Ukraine's experience with new technologies, apply them in innovation and capability development processes, and work with the Ukrainian industry, notably within capability coalitions." The EU-Ukraine Drone Alliance, launched in early 2026, gives weight to this cooperation: Ukrainian engineers, who now produce thousands of drones per month with negligible marginal costs, are sharing their know-how with their European counterparts. Furthermore, the German government has concluded an agreement with Kyiv to jointly develop and produce long-range drones capable of deep strikes.

Counter-drones: An absolute priority on the eastern flank

Faced with the proliferation of Russian drones — which are now crashing into Romanian buildings — counter-drone systems have become an operational urgency. The Action Plan on Drone Security and Counter-Drones, welcomed in the summit conclusions, aims to equip Member States with detection, jamming, and neutralization capabilities for hostile drones. The EDIP instrument (European Defence Industry Programme) has already allocated over €700 million to counter-drone systems, missiles, and ammunition.

The space dimension is also integrated into this equation. "Space assets and services" figure explicitly in the Council's list of priorities — because modern wars are also won through satellites: surveillance, secure communications, precision guidance, and ballistic missile warnings. Europe has depended on American satellites for these functions for too long. The June 2026 summit accelerates the ambition for an autonomous space defense architecture.

Support for Ukraine: 90 billion and much more

An unprecedented financial commitment in EU history

The summit reaffirmed the EU's "unwavering" support for Ukraine, and this support is now quantified at levels no one would have imagined before 2022. The conclusions confirm that the first disbursement of a €90 billion loan for 2026 and 2027 must take place before the end of June 2026 — a structural financing line that goes far beyond the emergency aid of the first few months. Since the invasion, the EU has already provided over €177.5 billion to Ukraine in all its forms.

Leaders have also requested the acceleration of priority equipment deliveries — air defense systems, ammunition, drones, missiles — in the face of intensifying Russian attacks on Ukrainian cities, energy infrastructure, and civilian targets. The Council also calls for repairing and strengthening the Ukrainian energy system before winter. Volodymyr Zelensky, whose presence at the summit marked a new stage in the EU-Ukraine rapprochement, embodies the resilience of a people who, for more than four years, have stood up to the largest army in Europe.

Strengthened sanctions: A total economic lever

On the sanctions front, the summit welcomed the adoption of the twentieth package of restrictive measures against Russia, targeting the Russian military-industrial complex, energy revenues, the "shadow fleet" network, propaganda networks, hybrid activities, and human rights violations. Sanctions against Russia have also been extended by twelve months instead of six — a strong political signal, as Ursula von der Leyen stated. A twenty-first package is in preparation to maintain pressure on the Russian war economy.

The "whole of route" strategy against the Russian shadow fleet — those tankers that allow Moscow to bypass oil embargos — is particularly important. Depriving the Kremlin of its hydrocarbon revenues means drying up the funding for the war machine. Every sanction adopted, every tanker blocked, every oligarch whose assets are frozen, contributes to pushing back the horizon of financial exhaustion for a regime that funds the death of thousands of Ukrainian civilians with its oil exports.

Enlargement to Ukraine and Moldova: The geopolitics of accession

Opening the first accession cluster: A historic decision

The June 2026 summit officially recorded the opening of the first cluster of accession negotiations with Ukraine and Moldova — a historic milestone that President António Costa called a "step forward toward unity." The moment has all the more weight as it comes after the Hungary of Prime Minister Péter Magyar — who succeeded Viktor Orbán following the May 2026 elections — withdrew its veto against Ukraine's accession, thus unblocking a situation that had paralyzed discussions for months.

Enlargement to Ukraine is not just a symbolic gesture of solidarity. It is an act of calculated geopolitics. By integrating Ukraine into its institutional orbit, the EU definitively anchors the country into the Western security architecture, transforms its integration into an irreversible fait accompli, and makes any Russian reconquest politically and diplomatically catastrophic for Moscow. Accession, even partial and progressive, is an implicit security guarantee more powerful than any declaration.

Moldova, Georgia, and the Balkans: An Europe expanding eastward

Moldova's accession follows a parallel trajectory. Further East, Georgia — theoretically a candidate — remains in a complex political situation since the 2023-2024 protests. As for the Western Balkans, the parallel summit held during the same period confirmed that their progressive integration now serves a primarily strategic objective: blocking the path to Russian and Chinese influence in a region that remains the soft underbelly of the European security architecture. The armed forces of Balkan states are receiving funding via the European Peace Facility, and their alignment with the EU's Common Foreign and Security Policy is now set as an implicit condition for advancing their candidacy.

The logic is consistent: a Europe that expands is a Europe that defends itself. Every new member on the eastern flank adds a kilometer of border to monitor, certainly — but it also adds an army, an infrastructure, an industrial fabric, and above all, one more vote in common institutions. Enlargement has become a collective defense tool just as much as military spending.

Germany, the engine of continental rearmament

The return of German power — and its ghosts

Among the twenty-seven Member States, it is the Germany of Chancellor Friedrich Merz that is giving the strongest impulse to rearmament. A week before the Brussels summit, Merz declared to the Bundestag that rearmament, European "competitiveness," and the pushing back of refugees were "the central tasks of the EU." He also warned that the population would have to "accept restrictions in other areas" to finance military rearmament. This framing — rearmament as the absolute priority, other spending as an adjustment variable — is assumed, head-on, and unambiguous.

Germany is implementing the most ambitious rearmament program in its history since 1945. The "Zeitenwende" operation — the historic turning point announced by Olaf Scholz in 2022 — has been profoundly deepened by the Merz government: hundreds of billions of euros in military investment, preparations for a possible return of conscription, the transformation of national infrastructure into war logistics, and a bilateral agreement with Kyiv to jointly develop long-range drones capable of deep strikes into Russian territory — officially to defend Ukraine, but with obvious offensive implications.

The German Operational Plan: A model for all of Europe

The military mobility plan adopted at the European level corresponds, according to WSWS analysts, exactly to what Germany had unilaterally developed in its "Operations-Plan Deutschland" — a plan that prepares the whole of society, the economy, and infrastructure for a major war on the eastern flank. This German plan is now, de facto, the model for the European plan: civilian infrastructure adapted for heavy military convoys, railway networks calibrated for transporting armored vehicles, and ports equipped for the rapid embarkation/disembarkation of heavy military equipment.

The convergence between the German national plan and European doctrine is significant. It signals that Berlin no longer simply claims to "contribute" to European defense — it claims to set the standards. This forceful return of German power in the continent's security architecture is not without raising questions in some Central and Eastern European capitals about the distribution of command and influence within a future common defense architecture.

The peace dividend: Autopsy of an illusion

How Europe disarmed while threats grew

The "peace dividend" — that economic expression coined in the 1990s to designate the resources freed up by the end of the Cold War — corresponded to an undeniable reality: European armies were reduced, defense budgets squeezed, conscription abandoned, and military industries privatized or liquidated. Between 1991 and 2014, European military spending plummeted as a percentage of GDP, and the operational capabilities of many armies silently degraded.

The invasion of Crimea in 2014 should have been a wake-up call. It only produced a modest startle. The full invasion of 2022 forced the realization. But intellectual realization is not the same as industrial and operational transformation. Rebuilding a defense industrial base eroded for thirty years takes time, massive investment, recovering lost skills, and reconstituting supply chains. The 500 infrastructure "hotspots" identified for military mobility are the concrete symbol of this catch-up: thirty years of underinvestment have left bridges too weak for tanks and train stations without the necessary platforms.

The end of deep strategic naivety

Beyond the material balance sheet, the June 2026 summit buries a deep strategic naivety. The conviction that commercial prosperity would render wars obsolete, that economic interdependencies would deter aggression, that international law would suffice to contain revisionist ambitions — all of this has been refuted by facts. Vladimir Putin was not deterred by the billions of euros in Russian-European trade. China is developing its military capabilities while integrating into global markets. Iran and North Korea are arming Russia despite sanctions.

The lesson, which some realist strategists never stopped repeating but liberal optimists refused to hear, is simple: peace is maintained through power, not through wishes. The peace dividend was real — but it was financed on credit. The bill is arriving now, and it is colossal. The June 2026 summit represents the moment when European governments explain to their populations that this credit must be repaid.

The transatlantic dimension: Trump, NATO, and the new burden-sharing

An America redeploying toward the Pacific

The transatlantic context of the June 2026 summit is radically different from the Obama or even Bush years. The 2026 U.S. National Defense Strategy, published a few months earlier, formalized what many refused to admit: the United States no longer considers the defense of Europe its primary strategic obligation. Washington is reordering its priorities — with U.S. continental defense and China deterrence in the Indo-Pacific at the top, and Europe in a secondary position. This reformulation is not an abandonment — the Americans are maintaining their presence in Europe — but it is a redefinition of the terms of the alliance.

Donald Trump — a polarizing figure if ever there was one — has exerted constant pressure on European allies to increase their defense spending. On this specific point, his brutal pragmatism produced a result that years of soft diplomacy had not: Europeans are finally spending. At the 2025 Hague Summit, NATO members committed to reaching 3.5% of GDP in defense spending by 2035 — a level unseen since the Cold War. Trump is a necessary evil for the West: his institutional crudeness is intolerable, but his pressure on burden-sharing forced a conversation that should have happened much earlier.

NATO remains the bedrock, but the EU is filling the gaps

The June 2026 European Council conclusions reaffirm that "NATO remains, for those Member States which are part of it, the foundation of their collective defense." This phrasing, which has become almost ritualistic, masks a more complex reality: the EU is now developing its own instruments — SAFE, EDIP, capability coalitions, military mobility, satellite surveillance — which give it increasing autonomy in defense matters. Not to replace NATO, but to filling the gaps that America no longer fills.

The "Coalition of the Willing" — led by France and the United Kingdom — is preparing concrete security guarantees for Ukraine after a potential ceasefire. The EU plans to contribute to monitoring mechanisms via its Satellite Centre. European military missions (EUMAM Ukraine, EUAM Ukraine) are already in operation. Burden-sharing is no longer a summit slogan: it is an institutional architecture under construction, with its own commands, its own supply chains, and its own intelligence capabilities.

China in the equation: The systemic competitor arming the enemy

The policy of "reducing strategic dependencies"

The June 2026 summit did not only target Russia. In terms of "competitiveness," "economic security," and "reducing strategic dependencies," it is China that is being targeted. The EU is tightening its trade policy in the face of what it perceives as "global macroeconomic imbalances" — a circumlocution to describe the massive state subsidies that allow Beijing to dump its products on European markets in strategic sectors: electric vehicles, semiconductors, telecom equipment, and solar energy.

But the military dimension is also present. China continues to provide Russia with dual-use goods — machinery, electronic components, technology — that fuel Russian military production. This indirect support for Putin's war machine is at the heart of Sino-European tensions. The EU has imposed export controls on dual-use goods and integrated Chinese companies into its secondary sanctions framework. Reducing technological dependence on China — in telecommunications equipment in particular — is now perceived as a national security imperative.

Economic war and hot war: Europe's two fronts

Europe thus finds itself having to simultaneously manage two types of confrontations: a hot war to the east, led by Russia, and a structural economic war led by China. The two are linked — China supports Russia, Russia absorbs the resources and attention of Western democracies — and both require different but complementary responses. The June 2026 summit attempts to address both fronts simultaneously, but the cognitive and budgetary burden is considerable for Member States, some of whom are already struggling to finance their bilateral rearmament.

Iran and North Korea complete this threat landscape. Tehran provides Shahed drones to Russia, which uses them to strike Ukrainian cities. Pyongyang has sent troops to fight alongside the Russian army in Western Russia — an unprecedented development since the Korean War. The axis of autocracies is a geopolitical reality, not a propaganda slogan. The EU is taking note of this in its foreign policy.

Legislative proposals by the end of 2026: The timetable of transformation

Defense program and military mobility: Two key texts

The June 2026 summit sets a precise legislative calendar: the co-legislators (European Parliament and Council) must reach an agreement before the end of 2026 on two major texts. The first is the Agile and Rapid Defense Innovation Program — known as PARD or "Brave Tech EU" in Commission documents — which aims to quickly fund and test new technological solutions responding to needs identified on the Ukrainian battlefield. The second is the military mobility proposal already mentioned, which aims to create the European military mobility area by late 2027.

These two texts add to the instruments already adopted or in the process of being adopted: the Omnibus on Defense Readiness (the political agreement for which was welcomed at the summit), the European Projects of Common Interest in defense, and the new provisions of the Connecting Europe Facility (CEF) which must integrate a specific window for military mobility by late 2027, with a tenfold budget increase — from €1.76 billion to €17.65 billion.

The European Investment Bank in support

The Council also invites the European Investment Bank to step up its support for defensive readiness, "notably by strengthening the European defense industry, including by attracting private investment." This implies a revision of EIB guidelines, which until 2022 categorically excluded the financing of defense-related projects for ethical reasons. The mutation is total: the EU's financial institution, long a symbol of European "soft power," is becoming a player in defense financing.

The agenda for the October 2026 European Council meeting has also been announced: heads of state will return to defense issues "based on the annual defense readiness report, which will be prepared by the European Defence Agency." This report will constitute the first systematic assessment of the trajectory toward the 2030 objectives. If results are insufficient — which is likely, given the scale of the necessary catch-up — new decisions to accelerate should be expected at that autumn summit.

Conclusion: Fortress Europe — The birth of a war power

An irreversible historic turning point

The European Council summit of June 18 and 19, 2026, will remain in history books as one of the sharpest turning points in the history of European integration. Not because it solved the problems — rearmament will take years, capability gaps will take decades to fill, and the Russian threat will not disappear with the end of hostilities in Ukraine. But because it set the framework, the vocabulary, and the institutional architecture of a Europe that finally decides to take its security seriously. Fortress Europe — fortress Europe, not in the sense of anti-migrant walls but as an armed and deterrent continental power — is being born.

The "peace dividend" is officially dead and buried in Brussels in June 2026. It allowed thirty years of relative prosperity and progressive disarmament. It also allowed Putin's Russia to patiently build the war machine that swept into Ukraine in 2022 and continues to threaten Europe. The bill for the naïve optimism of the 1990s is now being presented, and it is colossal. European citizens will have to bear it — by accepting budget restrictions, by supporting increased military spending, and by seeing their civilian infrastructure adapted to the necessities of war.

The question that remains open: Can one build a fortress without losing one's soul?

But a question remains, a crucial one, which the Council conclusions do not address: how to build a militarily powerful Europe without renouncing the values that define it — democracy, fundamental rights, social solidarity, and the rule of law? The risk is real that the logic of rearmament and social austerity will feed nationalisms, weaken social cohesion, and fuel the far right — which thrives precisely on the frustrations generated by the "restrictions" that populations must "accept." A Europe rearming to protect its values must not sacrifice those values on the altar of rearmament.

The bet of June 2026 is that a strong Europe can also be a just Europe. That the fortress can have interior gardens. That deterrence can coexist with democracy. It is possible — the history of democracies at war has shown it. But it is not automatic. It requires a political vigilance that current governments, in their unanimity on rearmament, do not always seem ready to exercise upon themselves. The future of Fortress Europe depends as much on its ability to defend itself from external enemies as on its will to preserve itself from its internal demons.

Signed Maxime Marquette, columnist

Sources

Primary Sources

European Council conclusions on defence and security — Europe Diplomatic, June 19, 2026

Commission welcomes Council agreement paving way for stronger EU military mobility — European Commission, June 18, 2026

2030 Defense Readiness Roadmap — European Parliament (EPRS), 2026

Secondary Sources

EU summit accelerates war course: Arms build-up, trade war, social cuts and anti-refugee measures — World Socialist Web Site, June 20, 2026

Europe's Strategic Turn: Ukraine, China, Russia, and the New Architecture of EU Power — Simon Gros, June 21, 2026

EU leaders urge 'decisively ramped up' defense by 2030 — Yeni Safak, June 19, 2026

Is Europe ready for war and what is Brussels doing to prepare? — Euronews, January 13, 2026

Europe and the 2026 U.S. Defense Strategy — Beyond the Horizon ISSG, January 28, 2026