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.

Joseph Nye considers lessons from his own work on preventing the spread of nuclear technology in the 1970s.

To keep oil flowing and diminish the U.S., Beijing brokers a deal between Iran and Saudi Arabia.

President-elect Joe Biden’s decision to create a new cabinet-level position for climate-related issues — and to choose so prominent a figure as former Secretary of State John Kerry to fill it — demonstrates Biden’s sincerity over putting climate at the very center of U.S. foreign policy. It is easy to understate the importance of this appointment, given the flurry of czars created by most new administrations.

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.

The world is on the cusp of a geopolitical reset. The global pandemic could well undermine international institutions, reinforce nationalism and spur de-globalization. But far-sighted leadership could also rekindle cooperation, glimmers of which appeared in the G-20’s offer of debt relief for some of the world’s poorest countries, a joint plea from more than 200 former national leaders for a more coordinated pandemic response and an unprecedented multinational pact to arrest the crash in oil markets.  

Henry Kissinger warns that many existing domestic and international institutions that have helped govern the past decades will not survive the Covid-19 crisis. He is surely correct.

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.

Despite the continuing debate in Tehran, the principle of “no negotiation under pressure” with the United States remains a consensual principle among all members of the current regime. The Supreme Leader has expressed this position by stating that the negotiations with the Trump administration are “double poison”. While Iran’s regional enemies are pushing for confrontation, the international community remains supportive of Tehran’s political position, as long as it stays committed to the nuclear deal. Existing indicators do not point at any willingness for confrontation from either side – at least at the moment. And although some regional actors have attempted to pacify the tension, the prospects for a truce remain unlikely within the current context.