Energy

Russia's 2022 invasion of Ukraine illuminated the long profound shadow of nuclear weapons over international security. Russia's nuclear threats have rightfully garnered significant attention because of the unfathomable lethality of nuclear weapons. However, the use of such weapons in Ukraine is only one way—albeit the gravest— that Russia could challenge the global nuclear order. Russia's influence extends deep into the very fabric of this order—a system to which it is inextricably bound by Moscow's position in cornerstone institutions such as the Nuclear Non-Proliferation Treaty (NPT) and the International Atomic Energy Agency (IAEA). From withdrawing from key treaties to stymieing resolutions critical of misconduct, Moscow has demonstrated its ability to challenge the legitimacy, relevance, and interpretations of numerous standards and principles espoused by the West.

In this episode of "Intelligence Matters," host Michael Morell speaks with former senior CIA operations officer and Moscow station chief Rolf Mowatt-Larssen about the likely trajectory of the war in Ukraine, including the possibility of a negotiated peace — or dangerous escalation. Mowatt-Larssen offers insights on Putin's options, potential rifts among his intelligence agencies, and persistent rumors about the Russian leader's health. Morell and Mowatt-Larssen also discuss Western involvement in the conflict and the lingering potential for the Kremlin to use weapons of mass destruction. 

By many measures, Russia’s state-controlled nuclear energy company, Rosatom, has primacy in the global nuclear energy market. At any given moment, the firm provides technical expertise, enriched fuel, and equipment to nuclear reactors around the world. The Russian invasion of Ukraine and, more acutely, the Russian military’s dangerous actions at the Zaporizhzhia nuclear power plant and in the Chernobyl exclusion zone have many countries rethinking their dependence on Russian nuclear products and searching for alternatives. Additionally, the ensuing global effort to cripple Russian access to international markets calls into question the viability of current contracts, government licensing, and financial instruments involved in Russia’s nuclear exports.

A comparative analysis of the United States’ and the Soviet Union’s previously underexplored radiological weapons programs identifies the drivers behind their rise and demise. The findings of this analysis illuminate the factors likely to affect the pursuit of radiological weapons by other states in the future.

Juergen Braunstein and Sachin Silva argue that sovereign wealth funds may be central to governments' efforts to balance public responsibility with private interests in post-pandemic economies.

Today’s economic crisis leaves us with an unsettling and perplexing regret. Why weren’t financial portfolios already adjusted for risks that stem from health events such as pandemics? After all, financial portfolios are adjusted for liquidity risks, market risks, credit risks, and even operational and political risks.

The man whose childhood dream was becoming “world king” and whose charismatic leadership energized the Brexit campaign has become Britain’s new prime minister. On July 24, Boris Johnson replaced Theresa May as leader of the Conservative Party and assumed the country’s top job. Following a campaign premised on delivering Brexit “do or die” by Halloween and with only 99 days until the departure deadline, Johnson wasted no time appointing a pro-Leave cabinet. Given EU resistance to renegotiating the withdrawal agreement and a divided British Parliament, odds are increasing for a no-deal Brexit or a general election.

Unlike the socialist revolutions of the last century, the Islamic Revolution of Iran did not identify itself with the working class or the peasantry, and did not bring a well-defined economic strategy to reorganize the economy. Apart from eliminating the interest rate from the banking system, which was achieved in name only, the revolution put forward few specific economic policies that could be called an Islamic economic development strategy. To be sure, its populist and pro-poor rhetoric was quite distinct from the Pahlavi regime it replaced, but its actual policies could be found in the toolboxes of most developing countries and international organizations.