<p>To the west of Eurasia lays Europe, a region predisposed to division. It is surrounded on nearly all sides by islands and peninsulas that make it difficult for Europe to cohere. The northern half of the continent, moreover, sits on a plain whose short, meandering rivers tend to empower countries without forcing them to work with others. The southern half is situated on more mountainous terrain that has historically impeded the creation of strong, unified economies. As a result, Europe is a continent riven by pockets of distinct cultures whose differences are all too often irreconcilable.</p>

Europe is a continent riven by pockets of distinct cultures whose differences are all too often irreconcilable.

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Beyond Quantitative Easing

The Ukraine Conflict

The Politics of Pipelines

EU: Regional Blocs

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European Disintegration

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The third quarter of 2025 will be defined by disruptive trade policies fueling supply chain volatility and the persistent risk of escalation in major conflicts.

2025 Third-Quarter Forecast: An Excerpt

United States

Iran

Israel

Australia

China

Japan

India

A photo taken in Tehran, Iran, on June 26, 2025, shows an Iranian political banner hanging near the remains of a residential building struck by an Israeli attack. 

Global Trade

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: Fragile Iran-Israel Ceasefire Holds, U.S. Tariff Deadline Approaches

U.S.-Iran Relations

Media

Forecast Webcast

Join our analysts for this webcast recording exploring key topics identified in RANE's 2025 Third-Quarter Forecast.

2025 Third-Quarter Forecast Webcast

U.S.-China Relations

Snapshots

French Prime Minister Francois Bayrou speaks during a press conference at a hotel in Paris on June 24, 2025. 

The collapse of negotiations over potential changes to President Macron's controversial pensions reform will increase the risk of more no-confidence votes against the government, budgetary deadlock and another early election.

In France, the Collapse of Pension Reform Talks Risks Worsening Political Instability

The entrance of the building where the 2025 NATO summit will be held is seen in The Hague, the Netherlands, on June 22, 2025.

The June 24-25 summit will likely yield a political agreement on higher defense spending and highlight Europe's move toward greater defense autonomy, though structural and financial limitations will make it hard to maintain this shift over time. 

Previewing the 2025 NATO Summit

Democratic Republic of the Congo

Rwanda

Ukraine

Russia

Israeli air defense systems are activated to intercept Iranian missiles over the Israeli city of Tel Aviv early on June 18, 2025. 

The Weekly Rundown: Israel-Iran Conflict Rages On, NATO Holds Annual Summit

Italian Prime Minister Giorgia Meloni speaks to media during the closing press conference of the G7 Summit in Fasano, Italy, on June 15, 2024. 

Energy

Italy is seeking to embed its Mattei Plan into EU policy to gain support for its immediate goals of energy security and migration control, but structural issues will likely limit Rome's long-term influence in Africa.

Italy Syncs Its Mattei Plan for Africa With EU Initiatives

Canada

Australian Defense Minister Richard Marles and British Defense Secretary John Healey sit together for the AUKUS Defense Ministers Meeting at Old Royal Naval College on Sept. 26, 2024, in London, England.

Environment, Science & Technology

Despite growing U.S. skepticism, strong imperatives to counter China's maritime presence will likely lead Washington to see a revised version of the AUKUS defense pact through.

U.S. Review of AUKUS Pillar I Puts Pact on Shaky Ground

Rescue teams work at damaged buildings in Nobonyad Square following Israeli airstrikes on June 13, 2025, in Tehran, Iran. 

The Weekly Rundown: G7 Leaders' Summit, More Israeli Attacks on Iran

An image shows a row of flags from the G7 members.

The June 15-17 summit will provide an opportunity for the bloc to discuss trade tensions and the war in Ukraine, but the meeting is more likely to expose transatlantic divisions over Trump's tariffs and reluctance to pressure Russia.

What To Expect From the First G7 Summit Following Trump's Return to the White House

The European Commission said it received a U.S. proposal outlining potential cooperation on tariff reductions, trade barriers and strategic sectors, though specific terms and tariff rates were not disclosed, Bloomberg reported on June 30. 

EU, U.S.: Brussels Opens to 10% U.S. Tariff in Deal Ahead of July 9 Deadline, Seeks U.S. Concessions

The European Union and Ukraine reached an agreement on June 30 about the future of their trade in agricultural products, establishing three tiers of product quotas that reflect the products' importance to EU producers, The Kyiv Independent reported the next day. 

EU, Ukraine: Negotiators Reach Deal on Agricultural Exports

Key provisions of the May U.S.-UK Economic Prosperity Deal -- covering tariff reductions on cars, aircraft engines and aerospace parts -- officially took effect on June 30, the United Kingdom confirmed in a press release the same day.

U.K., U.S.: Tariff Relief Deal Takes Effect for Auto and Aerospace Sectors

Ukraine's government announced on June 29 that overnight, Russia had launched what Kyiv described as its biggest air attack since the beginning of the war in February 2022, The Kyiv Independent reported the same day.

Russia, Ukraine: Russia Launches Major Air Attack Amid Stalled Negotiations

Australia's Defense Department slashed maintenance and training budgets by 10% to help pay for AUKUS submarines and missile purchases, sparking warnings that Australian Defense Force personnel, warships and aircraft were no longer fully operational, The Australian Financial Review reported on June 27. 

Australia: Naval Deficiencies Spell More Risk for AUKUS

U.K. Prime Minister Keir Starmer will water down key parts of planned welfare reforms in response to mounting pressure from within his own Labour Party, the BBC reported June 27. 

U.K.: Labour Government Scales Back Welfare Cuts to Avoid Internal Rebellion

The European Union on June 26 failed to agree on the 18th package of sanctions against Russia due to refusals by Hungary and Slovakia, but the bloc agreed to extend for another six months all current sanctions against Russia, The Guardian reported on June 27.

EU: Bloc Fails To Adopt New Sanctions Package Against Russia

China continues to delay or deny export licenses for rare earth magnets and raw materials, disrupting supply chains for Western manufacturers despite a recent pledge to ease restrictions, The Wall Street Journal reported on June 26.

China: Rare Earths Delays Undermine Export Pledge

Europe

SITUATION REPORTS

EU, U.S.: Brussels Opens to 10% U.S. Tariff in Deal Ahead of July 9 Deadline, Seeks U.S. Concessions

EU, Ukraine: Negotiators Reach Deal on Agricultural Exports

U.K., U.S.: Tariff Relief Deal Takes Effect for Auto and Aerospace Sectors

Russia, Ukraine: Russia Launches Major Air Attack Amid Stalled Negotiations

Australia: Naval Deficiencies Spell More Risk for AUKUS

U.K.: Labour Government Scales Back Welfare Cuts to Avoid Internal Rebellion

EU: Bloc Fails To Adopt New Sanctions Package Against Russia

China: Rare Earths Delays Undermine Export Pledge

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