March 2026

When Markets Whisper War: Suspicious Trading Risks Exposing Military Operations

A growing body of evidence suggests that financial markets may be doing more than reacting to geopolitical shocks. In several recent cases, they appear to have anticipated them. That raises a harder question than legality. If trading activity reveals patterns ahead of military decisions, it may also be revealing those plans to adversaries. Recent reporting

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Rearming the Baltic Sea: NATO’s Northern Maritime Shift

Baltic Sea naval modernisation is building a layered regional architecture. Crewed vessels are being renewed for patrol, mine warfare, and air defence. Coastal and land-based missile forces are expanding. Submarines remain central to intelligence and deterrence. Unmanned systems are emerging as the connective tissue that enables persistent surveillance. As Nordic suppliers play a growing role

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Bringing the War to NATO’s Northern Edge: Ukraine strikes Russia’s Baltic Oil Hub

Ukraine’s drone strike on Russia’s Primorsk and Ust-Luga oil terminals has pushed the war into the narrow waters of the Gulf of Finland, less than 50 kilometres from NATO territory, and exposed a critical vulnerability in Moscow’s Baltic export system. One drone already crossed from Russian airspace and struck a chimney at the Auvere power

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Opening ceremony of BEDEX 2026 - with Theo Franken, the Belgian Minister of Defence and NATO Secretary General Mark Rutte.

NATO’s Rutte at BEDEX: “Belgium is back”

The first BEDEX functioned more as a political-industrial meeting point, less as a traditional arms fair. NATO messaging, European defence industrial cooperation and supply-chain building all converged in Brussels. BEDEX served mainly as a venue for industrial cooperation announcements rather than large procurement contracts. The Belgian Minister of Defence raised a current topic: How the

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Denmark and Hungary Vote Under Pressure as Foreign Influence Campaigns Shadow European Elections

Denmark went to the polls on amid heightened warnings of foreign interference, with intelligence services and European analysts pointing to sustained Russian influence activity in the final phase of the campaign. There is evidence of foreign attempts to interfere in elections in Germany, Hungary and Slovenia, too. The Hungarian Foreign Minister is accused of briefing

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Europe is Still Falling Behind as the Race for Critical Minerals Intensifies

EU industry leaders warn of strategic vulnerability while US officials unveil financing tools to secure supply chains: Remaining passive is no longer an option. Europe is Late in the Game, discussions at Giga Europe 2026 in Brussels revealed. Europe’s vulnerability is political. But there’s no one-size-fits-all solution. And Europe is still reluctant to pay the

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Record Growth for Nordic Defence Industry Leaders – Kongsberg, Patria and Saab in 2025

Sweden’s Saab AB, Norway’s Kongsberg Gruppen and Finland’s Patria each delivered outstanding results in 2025, reflecting a historic surge in European defence demand. All three reported double-digit revenue growth and record order backlogs. Together, they captured numerous major contracts and invested heavily to expand capacity. All three Nordic firms are clear beneficiaries of the unprecedented

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Who Will Defend Europe

Bunker Books: Who Will Defend Europe? An Awakened Russia and a Sleeping Continent by Keir Giles (2025)

Keir Giles’s Who Will Defend Europe? An Awakened Russia and a Sleeping Continent argues that Europe has spent three decades behaving as if history had ended, while Russia did the opposite. The Sleeping Continent is a verdict on political leadership, procurement culture, and the strategic habit of assuming the United States will keep turning up

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Kaja Kallas (screenshopt of Zurich discussion)

Kaja Kallas: Russia Has to Lose Its Last Colonial War

If we want lasting peace, we cannot reward aggression. Because if aggression pays off, then aggression will continue, reminded, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas in Zurich. Historically, empires change only when they lose their final colonial war, she said. In an interview in Zurich, discussing Russia’s negotiating tactics and

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