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Ukraine drone strikes deep inside Russia
In this episode of Europe in :60, Carl Bildt provides an update on the ongoing war between Russia and Ukraine.
Bildt highlights Ukraine’s recent drone strikes on Russian bomber bases that was “beyond what you see in James Bond movies.” The bold Ukrainian operation comes amid a shifting geopolitical landscape that may be encouraging Russia to double down. Bildt notes that Russia’s maximalist demands and Trump’s apparent withdrawal of pressure on Putin have emboldened Moscow to continue military operations. Bildt warns, “we are facing further tragic months of war in the East of Europe."
Ukraine’s drone strike shocks Russia and redefines modern warfare
Ukraine’s unprecedented drone strike deep inside Russian territory destroyed up to 20 aircraft, including nuclear-capable bombers and early warning systems.
Ian Bremmer calls it “one of the most extraordinary asymmetric attacks in modern warfare,” raising urgent questions about Russia’s nuclear deterrence and the global balance of power.
Powered by a homegrown drone program and diaspora technologists, Ukraine’s low-cost innovation dealt a massive blow to Moscow’s high-value assets. Ian draws parallels to Israel’s strikes on Hezbollah, showing how modern warfare is being redefined.
“The dangers are not just to the Ukrainian people—the dangers are increasingly global,” warns Ian.
Russian President Vladimir Putin visits the Kursk-II nuclear power plant under construction, in the Kursk region, Russia, on May 21, 2025.
What We’re Watching: Putin celebrates in Kursk, “Death camp” discovery in Mexico, & DRC seeks US help against China
Putin takes a victory lap
Russian President Vladimir Putin visited Kursk on Tuesday for the first time since the Kremlin declared that it had ejected Ukrainian fighters from the Russian region. It’s another flex for a leader who signals no interest in halting the war in Ukraine. The next challenge for Moscow: Can its army secure major battlefield gains this summer to further boost its bargaining position?
Activists press Mexico’s government on cartel “death camp”
Pressure is growing on Mexico’s government to take action against drug cartels that have kidnapped, tortured, and killed tens of thousands of people over the last two decades, after relatives of some of the 120,000 disappeared persons learnt this week about a “death camp” in the western state of Colima. Authorities discovered mass graves there 18 months ago, but only just passed on the information to victims’ families. Taking on these gangs is a complex task for President Claudia Sheinbaum, as local authorities lack the manpower and firepower to quell them.
US vs China in the DRC
Felix Tshisekedi, president of the Democratic Republic of Congo, has picked a fight with China over its cobalt and wants US help. The sub-Saharan nation banned exports of the metal – an essential input for the battery, defense, and aerospace industries – in February, but China’s top cobalt producer, COMC, is now pushing the DRC to lift the ban. The DRC produces about three-quarters of the world’s cobalt, and is seeking to engage the Trump administration to find new investment partners in a bid to limit Chinese influence in its cobalt trade.
Trump’s call with Putin fails to deliver Ukraine ceasefire
Ian's takeaways:
On Trump’s Ukraine policy: “Absent a ceasefire, there is no breakthrough deal between Trump and Putin. None of that’s going to happen.”
On Western backlash over Gaza: “At the end of the day, unless Trump is going to squeeze Israel hard and say, 'Suspend intelligence and aid,' the way he did with the Ukrainians, I have a hard time seeing the Israelis in any way backing down from what is at this point an completely unconscionable military intervention and ethnic cleansing across the board in Gaza."
On tech power vs. government: “In the US digital space, it’s the tech CEOs who hold the power and the government isn’t ready for what’s coming.”
Canada's Prime Minister Mark Carney leaves his office on Parliament Hill after his second day in office, on April 30, 202.
What we’re watching: G7 tries to find common ground, Putin and Trump differ on Ukraine call, Milei gets capital boost in Argentina
G7 Finance Ministers meet in Canada
Finance ministers from the G7 group of advanced democracies meet on Tuesday, with Trump’s huge “Liberation Day” tariffs still looming large. Can they really reach a common position on key issues such as commerce, climate, AI, and Ukraine? It’ll be a good bellwether for the upcoming G7 leaders summit next month.
No big breakthrough in Trump-Putin Ukraine phone call.
After the two leaders spoke Monday, Trump said bilateral ceasefire negotiations between Ukraine and Russia, apparently without US involvement, would begin “immediately.” But Putin said only that he’s ready to begin to draw up a memorandum that could lay the groundwork for a “possible” agreement. Is the US losing interest in brokering an end to the war?
Milei gets a boost in Buenos Aires election
Argentina’s radical, cost-cutting president Javier Milei got a boost after his party won the most legislative seats in the national capital. Later this year, Argentina heads into midterm elections, the first nationwide referendum on Milei’s approach since he won the presidency in 2023.Turkish President Recep Tayyip Erdoǧan and Ukrainian President Volodymyr Zelenskiy attend a meeting at the Presidential Palace in Ankara, Turkey, on May 15, 2025.
So far, no steps toward peace in Ukraine
Ukrainian President Volodymyr Zelenskykept a low-level Russian delegation waiting in Istanbul on Thursday while he met with Turkish President Recep Tayyip Erdoǧan in Ankara.
Why is Zelensky in Turkey at all? It was in fact Vladimir Putin who proposed peace talks there in response to a recent European call for a 30-day ceasefire, but the Russian president is not attending personally. Putin’s decision to send junior officials is seen as an indication that he is not really interested in ending his invasion of Ukraine.
European leaders have warned that if Putin does not agree to stop the invasion, they will intensify sanctions on Russia and increase military aid to Ukraine.
But Donald Trump, who also called for peace talks in a social media post, seemed to reduce the pressure on Putin when he told reporters in Qatar that he was not expecting much from the meeting.
“Look, nothing is going to happen until Putin and I get together,” he said.
And while there was some speculation that Trump and Putin could yet show up in Turkey on Friday — a development that would substantially increase chances of a breakthrough — there was no sign of that by Thursday afternoon.
If that holds, the negotiations are unlikely to yield much of substance, and the basic deadlock will remain: Putin, keen to play for time while his army slowly advances, is demanding impossible conditions from Zelensky, while Trump, who pledged a swift end to the war, has grown increasingly frustrated with Putin but so far seems unwilling to apply more pressure on him.
Members of US and Russian delegations, led by US special envoy Steve Witkoff and Russian President Vladimir Putin, attend a meeting in Moscow, Russia, on April 25, 2025.
Putin and Zelensky’s diplomatic dance
Both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky have called for direct Russia-Ukraine talks in Istanbul this Thursday.
Behind these calls for talks, though, is a battle over whether the US will continue funding Zelensky’s army.
Here’s the bottom-line: Putin won’t stop the war. He hopes instead that US President Donald Trump will grow frustrated (or bored) with the quagmire and withdraw support for Kyiv. That, Putin believes, would allow Russia to seize more of Ukraine.
Zelensky will keep calling for a ceasefire to persuade Trump – who toyed with the idea of coming to Istanbul on Thursday – that Putin’s the problem, in hopes of keeping some US support in place.
In the Philippines, Duterte edges latest edition of family feud
The battle for power in the Philippines is fought between two families: the Marcoses and Dutertes. Monday’s midterm elections favored the latter.
President Ferdinand Marcos Jr.’s partners look set to retain the Senate, but allies of Vice President Sara Duterte – who faces an impeachment trial – won more seats than expected. Duterte’s conviction is now less of a surefire bet.
In spite of the politics, House Republicans seek extra Medicaid requirements
When one House committee released its plan for adjusting Medicaid, it omitted the cuts that some ardent deficit hawks in the Republican Party sought. However, it still includes changes that could leave millions of recipients uncovered.
Politically, this is a risky move – polls show huge support for the welfare program. Fiscal conservatives in the GOP, though, will feel that the party must do it now, while they hold unified control of Congress.
Trump's weekend of geopolitical success
Lots of headline announcements from Trump himself, and the biggest one in terms of the markets is not necessarily something you'd call a success. It's more a backtrack, but a useful backtrack nonetheless and one that we're all glad to see. Trump, of course, kicked off this global trade war with pretty much everyone, but especially with the Chinese, where he was essentially talking about a decoupling between the two largest economies in the world, raising tariffs against China to 145%, meaning nobody's going to buy any goods from China. Chinese doing the same against the Americans, raising up to 125%.
China was not going to pick up the phone to call Trump, and he was surprised that they hit back. He thought that this was going to lead to a negotiation and much more careful caution from the Chinese. As you saw from a lot of American allies around the world, not the case. And so, not only did he get his own administration to respond and talk with the Chinese and say, "We'd like to engage in person." But also sent Treasury Secretary Scott Bessent and Jamieson Greer, US Trade Rep, by far the most capable on the trade side that are senior and report to Trump.
And after a couple of days of meetings in Geneva, we've got 90 days off, and we have 125% off the American tariffs. So, we're at, what? 30% or 115% off, or 30% for the Americans, 10% for the Chinese. In other words, trade can happen again. And a joint statement from the US and Chinese governments, which is very rare under any government, frankly, with China, certainly with an adversary, to show that there is no daylight on the desire to pull back against decoupling, and also to engage directly between the two countries over the coming months to try to ensure that these trade gets to a mutually more respectful place.
Now, what's interesting is Trump had been trying to push so many allies around the world to align with the US on decoupling from China as part of the trade negotiations, that obviously, that piece of the negotiations isn't going to move anywhere. Japan pushed back, most countries aren't interested, certainly not the Europeans. Now, it's not really going to be credible, and I think Trump will quietly drop it, and the markets of course shoot up as a consequence of that.
So, two steps forward, two steps back. We're kind of where we were before Liberation Day on US-China. Yes, there are some additional sectoral tariffs, and this is going to be costly. But on the bilateral relationship, frankly, not an enormous amount has actually changed. Okay, so that's not a win.
What do I mean that he's had successful time on the global stage? Well, internationally, there've been a bunch of wins. India, Pakistan, significant escalation on the back of this Kashmiri terrorist incident, with lots of Indians getting killed, Indian civilians. The Indians respond by hitting Pakistani terrorist targets, according to India, but in civilian locations, so they don't mind that Pakistani civilians are getting killed. Then Pakistan responded, then India responded, and the Americans stepped in and facilitated a ceasefire.
Marco Rubio probably his single win on the global stage that we've seen so far, helps him with Trump. He also announced there would be trilateral engagement going forward between the countries. That's not going to happen. But we are, I would say again, at the status quo ante on Pakistan, India at this time, the Americans facilitated.
The Houthis had been threatening US and other shipping through the Red Sea. The Americans decided to blow up lots of Houthis military leadership capabilities. That was the Signal Gate leak that came out. And a few weeks after that, the Houthis said, "Okay, we won't attack the shipping lanes anymore, as long as you stop attacking us." That's a win for the United States. It was facilitated by Iran, who's engaged in direct bilateral negotiations with the United States right now, and Iran in a much worse position geopolitically, the Gulf states would love to see that happening. They're hosting Trump this week. That's likely to progress significantly. Maybe even Trump will meet with high-level Iranians. We'll see if we get a surprise there. But nonetheless, that's all in a much better position than it was before. And so too relations between the Gulf States and the US. Saudi US bilateral relations, including a willingness to allow for nuclear energy and development in Saudi Arabia.
Lots of new investments that are going to be announced with all three stops. Yes, there's this unfortunate announcement of a gift that shouldn't be accepted from Qatar of a 747. And then that's going to wrap up the first trip that Trump makes internationally, as well as the release of the sole remaining US hostage in Gaza. And that had been driven by the Israelis together with the US and the US angry with Netanyahu, who's continuing to engage in a war and taking over lots of territory in Gaza and not allowing humanitarian aid in. The Americans deciding they were going to negotiate directly for themselves, and with success before that trip.
So, all of those things, announcements that are frankly welcome. And the one big conflict where we're not seeing progress is Russia, Ukraine. It is plausible that there will be a bilateral meeting between Putin and Zelensky on Thursday. Zelensky is calling for it, the Europeans, the Americans are calling for it directly. Let's see if Putin actually shows up, or if he says, "I want to do a lower level meeting to start." Either way, it looks very unlikely that he's going to actually accept a ceasefire on terms that would be remotely acceptable by the Ukrainians, the Europeans, or even the United States, which means not much progress there.
But at least Trump not willing to do a deal with Putin absent a ceasefire, which means the Americans, the Europeans, and even the Ukrainians are more aligned today than they were a week ago, two weeks ago. Certainly during that shambolic Zelensky visit to the Oval just a few weeks back. So, good news over the weekend, and some good news coming this week. And I'm personally delighted to be able to report some things that are positive about what's happening in Trump administration, as opposed to things that are breaking and things that are falling apart. Let's hope that continues. I'll talk to you all real soon.