“If the G-Zero world is winning, one of the things that's also winning is impunity,” says Ian Bremmer, president and founder of Eurasia Group and GZERO Media.

Speaking at the 2025 Munich Security Conference, Bremmer highlights the rise of global impunity and the challenges of deterrence in today’s volatile geopolitical climate. He recalls the brief effectiveness of deterrence after Biden’s 2021 meeting with Putin, and how Russia’s invasion of Ukraine shattered the notion of deterrence in global politics. Bremmer warns that Russia’s growing alliance with North Korea, which includes sending troops to the front lines inside Russia to fight the Ukrainians, only emboldens Putin to act more aggressively and that ‘they're not going to be as easily deterred either.”

Watch the full conversation: Is the Europe-US rift leaving us all vulnerable?

This conversation is presented by GZERO in partnership with Microsoft from the 2025 Munich Security Conference in Munich, Germany. The Global Stage series convenes global leaders for critical conversations on the geopolitical and technological trends shaping our world.