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Tariffs, debt, inflation, and markets: who pays the bill, and when.
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EDITORIAL: Three hundred billion for Iran: the exorbitant price of a peace Trump calls victory
Editorial· No. 1091

EDITORIAL: Three hundred billion for Iran: the exorbitant price of a peace Trump calls victory

Three hundred billion dollars. That is the figure. That is what the Islamabad memorandum — sketched at the close of the Swiss talks on…

DECODING: Sixty days to seal it all: the fragile roadmap between Washington and Tehran
Analysis· No. 1089

DECODING: Sixty days to seal it all: the fragile roadmap between Washington and Tehran

Since June 21, 2026, a diplomatic clock has been ticking in Washington, in Tehran, and in the capitals holding their breath. Sixty days. That…

ANALYSIS: Hormuz, the strait that shakes the world: decoding the US-Iran $300-billion deal
Analysis· No. 1088

ANALYSIS: Hormuz, the strait that shakes the world: decoding the US-Iran $300-billion deal

The Strait of Hormuz. Twenty-one kilometres at its narrowest point. Two two-mile-wide shipping lanes. And yet this tiny passage between Iran and Oman represents…

ANALYSIS: The 1260H list — how Beijing retaliates against Washington and arms the economic war for Taiwan
Analysis· No. 1083

ANALYSIS: The 1260H list — how Beijing retaliates against Washington and arms the economic war for Taiwan

There are administrative documents that resemble declarations of war. The so-called "1260H list" — an inventory of companies designated by the U.S. Department of…

REPORT: Russian regions drowning in debt — the hidden face of an economy sacrificed at the front
Reportage· No. 1075

REPORT: Russian regions drowning in debt — the hidden face of an economy sacrificed at the front

There is the Russia of the propagandists — the Russia of military parades on Red Square, of hypersonic missiles and Vladimir Putin's triumphant speeches.…

ANALYSIS: Russian bonds collapse — the debt market has already condemned the Kremlin's war
Analysis· No. 1074

ANALYSIS: Russian bonds collapse — the debt market has already condemned the Kremlin's war

There are truths that missiles cannot tell, realities that Kremlin communiqués cannot mask, and verdicts that only money delivers with implacable coldness. The Russian…

DECODING: Structural Exhaustion: What the Kiel Institute Report Really Says About Russia's Economy
Analysis· No. 1072

DECODING: Structural Exhaustion: What the Kiel Institute Report Really Says About Russia's Economy

The Kiel Institute (IfW Kiel) is one of the most respected and widely cited economic institutes in Europe. Founded in 1914, it has earned…

DECODING: Five percent of GDP: the budget revolution Rutte wants carved in marble at Ankara
Analysis· No. 1063

DECODING: Five percent of GDP: the budget revolution Rutte wants carved in marble at Ankara

Five percent. Two digits, one percentage sign, and a seismic shift in how the Western alliance understands its own survival. When NATO Secretary General…

ANALYSIS: Ankara July 7-8: the NATO summit where the West stakes its credibility against Putin
Analysis· No. 1062

ANALYSIS: Ankara July 7-8: the NATO summit where the West stakes its credibility against Putin

On July 7 and 8, 2026, the leaders of 32 allied nations plus partners from the Indo-Pacific and the Middle East will gather at…

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