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World leaders at Davos declare the end of the global order amid US disruption

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Leaders speaking on the first day of the World Economic Forum (WEF) in Davos have declared the end of the “global order as we know it,” driven by the actions of the US administration under Donald Trump.

In his address to the forum, Canadian Prime Minister Mark Carney stated that the rules-based international order is experiencing “not a transition, but a rupture,” calling on the world’s “middle powers” to unite in response.

Carney did not mention Trump by name, yet his speech received a standing ovation from attendees. The Canadian leader pointed out that the global order centered on “American hegemony” is now a “fiction,” stating that the era of multilateralism has ended with groups like the World Trade Organization and the UN having been “largely weakened.”

Carney spoke as follows:

“Canadians know that our old, comfortable assumption that our geography and alliance memberships automatically provide prosperity and security is no longer valid. Let me be clear. We are not in a period of transition; we are in the midst of a rupture.”

“You cannot live in the lie of mutual benefit through integration when that integration has become the source of your subservience,” Carney said.

Accusation of “economic coercion” against the US

Argued that major powers have recently begun weaponizing economic integration—using tariffs as tools of pressure, financial infrastructure as instruments of coercion, and supply chains as vulnerabilities to be exploited—Carney called on countries to begin openly condemning economic coercion even when applied by allies, a remark that served as another clear reference to the US.

The Prime Minister stated, “The old order is not coming back.”

Urging “middle powers,” including Canada, to cooperate with one another, the Canadian Prime Minister said, “If you are not at the table, you are on the menu. Nostalgia is not a strategy. But we believe we can build something bigger, better, stronger, and fairer from this rupture.”

Carney, whose Liberal Party won the election last year on a pledge to protect Canada from US tariffs, attempted to appease Trump while conducting trade agreement negotiations with him.

High-level European political figures praised Carney’s comments at the WEF. Alastair Campbell, adviser to former UK Prime Minister Tony Blair, wrote on X, “The speech today was true leadership.” Carl Bildt, co-chair of the European Council on Foreign Relations and former Prime Minister of Sweden, called it “very significant.”

As Ottawa seeks to diversify its relationships away from US trade, Carney traveled to Beijing last week for a historic meeting with Chinese President Xi Jinping, the first such encounter in nearly a decade.

Speaking to reporters during the visit, he said that China is a more “predictable” partner than the US and that the Canada-China partnership is part of the emerging “new world order.”

Call from Canadian leader for “middle powers” to act together

Quoting the famous ancient Greek historian Thucydides and Václav Havel at Davos, the Canadian leader said that countries like Canada must change course to avoid further “coercion” by powerful actors:

“When the rules no longer protect you, you must protect yourself. But let us see clearly where this leads. A world surrounded by fortresses will be poorer, more fragile, and less sustainable.”

Carney stated, “Canada strongly opposes the tariffs regarding Greenland and demands focused discussions to achieve our shared goals of security and prosperity in the Arctic.”

As an example of cooperation among middle powers, Carney said that Canada is strictly committed to the collective defense of Greenland within the scope of NATO. The Prime Minister said, “On the matter of Arctic sovereignty, we stand with Greenland and Denmark, and we fully support Greenland’s unique rights to determine its future.”

Carney’s fundamental argument was that middle powers should join forces rather than competing to curry favor with major powers:

“When we engage in only bilateral negotiations with a hegemonic power, we negotiate from a weak position. We accept what is offered. This is not sovereignty. This is obeying while accepting sovereignty.”

The Prime Minister said that middle powers must establish new institutions among themselves, strengthen their domestic economies, diversify international trade, and work together in coalitions—not bilaterally—in their relations with major powers:

“Instead of waiting for a great power to rebuild the order it destroyed with its own hands, create institutions and agreements that work as advertised. This is not naive multilateralism. Nor is it relying on weakened institutions. It is building coalitions that work, issue by issue, with partners who share enough common ground to act together.”

Promise of a joint response from von der Leyen

Earlier in the day, European Commission President Ursula von der Leyen told the World Economic Forum that the economic pressures threatened by Trump to seize Greenland were a mistake and warned that the EU’s response would be “decisive, united, and proportional.”

Von der Leyen pushed back against Trump’s threat to impose a 10% tariff on European allies and the UK until allowed to annex Greenland, as well as the warning that tariffs would rise to 25% in June.

Von der Leyen stated that the EU shares US concerns regarding the protection of Greenland and is ready to increase spending and protective measures there.

Stating that the “sovereignty and integrity” of Danish territory is “not open for debate,” von der Leyen said Brussels is working on a “major wave of European investment” in Greenland.

The Commission President said, “Hand in hand with Greenland and Denmark, we will explore how we can further support the local economy and infrastructure. We will work for broader Arctic security with the US and all partners.”

Arguing that “geopolitical shocks” could be an opportunity for Europe, von der Leyen said, “To me, the profound change we are experiencing today is an opportunity, even a necessity, to forge a new form of European independence”:

“Trying to buy time and hoping the situation will improve soon will not eliminate our structural dependencies. My point is this: If this change is permanent, Europe must also change permanently. It is time to seize this opportunity and build a new, independent Europe.”

Arguing that this new Europe is already emerging, von der Leyen cited the recent EU-Mercosur trade agreement as a sign of this. She said she would travel to India after Davos to negotiate an agreement with that country as well. Stating that a market of 2 billion people would be created through agreements made or to be made with countries such as Indonesia, the Philippines, Mexico, Australia, Thailand, and the UAE, alongside Latin America and India, von der Leyen noted that these would account for one-quarter of the world’s total GDP.

Macron: A world where rules are upended

Taking the podium wearing dark glasses due to illness, French President Emmanuel Macron stated it was clear that an era of “instability and imbalance” had begun in terms of both security and defense, as well as the economy.

Noting a “shift from democracy toward autocracy,” Macron argued that there is more war, that conflicts have normalized and become more complex, spreading to new demands, space, digital information, the cyber realm, and trade.

Emphasizing that there is also a shift toward a world without rules, the French leader continued:

“A world where international law is trampled underfoot and the only valid rule is the rule of the strongest. And imperial ambitions are resurfacing. Clearly, Russia’s war against Ukraine, which will enter its fourth year next month, and the conflicts continuing in the Middle East and Africa.”

According to Macron, this also signifies a slide toward a world where there is no “effective collective governance,” where “multilateralism” is weakened by powers that obstruct it or distance themselves from it, and where “rules are upended.”

Making a direct reference to the US, Macron noted that competition conducted by Trump through trade agreements that harm export interests, demand maximum concessions, and openly aim to weaken and subjugate Europe is combined with the endless accumulation of “new tariffs that are fundamentally unacceptable and become even more unacceptable when used as a tool of pressure against territorial sovereignty.”

Search for “rebalancing” with China on the table

Touching on China as well, Macron argued that competition from there poses a threat of upending entire industrial and trade sectors due to “massive overcapacity and disruptive practices.”

Suggesting that the solution to the problem is “more cooperation,” the French leader said that establishing greater “economic sovereignty and a strategic economy,” particularly for Europeans, is the fundamental answer.

Arguing that there are two approaches today, Macron called the first the vassal and colonial approach that accepts “the law of the strong,” noting that this is unacceptable.

Stating that the second is to adopt a “purely moral stance” and “limit ourselves to commenting,” Macron said, “This too would condemn us to marginalization and powerlessness.”

Macron stated that France and Europe, facing the “brutalization of the world,” must defend “effective multilateralism,” noting that this serves the interests of both Europe and everyone who refuses to bow to the use of force.

Arguing that “rebalancing” with China is crucial, Macron noted the following:

“Our door is open to China, but what we need is for more Chinese foreign direct investment to be made in certain key European sectors to contribute to growth and transfer certain technologies. Not to export to Europe certain devices or products that sometimes do not share the same standards as those produced in Europe or are much more heavily subsidized. This is not protectionism, it is simply restoring a level playing field and protecting our industry.”

Believing that Europe needs “simplification,” Macron called for the elimination of certain new regulations that prevent the EU from being “synchronized.” Stating that the deepening of the single market must also be accelerated in this context, Macron said, “In all sectors, the population and consumer market of 450 million must be the domestic market for all EU companies.”

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India’s Russian oil imports hit record high as Middle East tensions disrupt markets

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23/06/2026

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India is increasing imports of Russian oil and coal as supply chain disruptions and rising prices linked to tensions involving Iran reshape global energy flows.

According to a Reuters report citing data from analytics firm Kpler, shipments from Russia to India reached record levels in June.

Kpler estimates that Russian oil deliveries to India will rise to a record 2.55 million barrels per day in June.

That would surpass both the 2.13 million barrels per day recorded in May and the previous high of 2.16 million barrels per day registered in May 2023.

Russia’s share of India’s total oil imports in June is expected to come in at just under 50%. Before the outbreak of conflict in the Middle East, the figure averaged 23% during the three months preceding February 28.

India’s shift toward Russian crude followed the effective closure of the Strait of Hormuz by Iran and a temporary suspension of sanctions on purchases by the administration of US President Donald Trump in an effort to increase market supply.

However, the sanctions waiver expired on June 17 and was not extended by the US Treasury Department.

Reuters noted that this could lead to a decline in purchases of Russian crude, although the outcome will depend on the willingness of Indian refiners and government officials to return to sourcing shipments from Middle Eastern suppliers.

According to Kpler forecasts, imports from Saudi Arabia are expected to remain at 349,000 barrels per day in June. That compares with an average of 832,000 barrels per day during the three months before the conflict.

A similar trend is visible in coal imports. Imports of Russian coal across all grades are expected to reach 3.16 million tonnes in June, compared with 3.27 million tonnes in May.

Both figures would rank as the second and third highest on record, respectively, behind the peak of 3.76 million tonnes registered in May last year.

Russia is also expected to overtake Australia in June to become the second-largest supplier of coal to India, the world’s second-largest coal importer after China.

According to Reuters, Russia is likely to maintain its role as one of India’s key coal suppliers. Future purchases of Russian oil, however, will depend on whether Washington moves to tighten sanctions against Moscow.

New Delhi says oil shipments will not be affected by sanctions

Indian Foreign Minister Subrahmanyam Jaishankar said in mid-June that the country had increased purchases of Russian oil since 2022 at Washington’s request in order to help contain global energy prices.

Jaishankar criticised US restrictions on Russian commodities and urged policymakers not to present such measures as matters of grand principle.

Sujata Sharma, a representative of India’s Ministry of Petroleum and Natural Gas, also said in May that shipments from Russia were continuing and would do so regardless of US decisions concerning sanctions waivers.

Indian refiners reduced imports from Russia in 2025 and turned to suppliers in Saudi Arabia and Iraq amid pressure from the United States and threats of a 25% tariff on Indian goods.

However, Reuters data show that following the outbreak of war in the Middle East and the blockade of the Strait of Hormuz, Indian companies began increasing purchases of Russian crude again in early March.

Russia’s ambassador to New Delhi, Denis Alipov, said at the end of April that Moscow was prepared to supply as much raw material as India was willing to accept.

Russian Foreign Minister Sergey Lavrov later confirmed that Moscow remained committed to its agreements on energy shipments to India.

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EU, US and China intensify competition over Africa’s strategic minerals through Lobito Corridor

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23/06/2026

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Africa is becoming an increasingly intense arena of competition among China, the US and the European Union over access to strategic raw materials.

According to an analysis by German Foreign Policy, the Lobito Corridor, a rail link connecting the copper belt of Zambia and the Democratic Republic of the Congo to the Atlantic port of Lobito in Angola, is playing a pivotal role in that contest.

The infrastructure project is regarded as one of the flagship initiatives of the EU’s Global Gateway strategy and is also viewed by Washington, which is investing in the region, as a means of reducing dependence on China.

In the future, copper, cobalt, lithium and other raw materials essential for the production of batteries, electric vehicles, digital technologies and military equipment will be transported westward via this route.

The initiative builds on infrastructure originally constructed during the colonial era to facilitate the export of African raw materials.

Critics argue that the expansion of the Lobito Corridor perpetuates existing patterns of resource extraction under new conditions.

Global Gateway as a counter to the Belt and Road

The European Commission approved the Global Gateway programme in September 2021.

Under the programme, nearly €300 billion is to be invested in infrastructure projects across Africa, Asia, Oceania, Southeast Europe, and South and Central America by 2027.

The programme is widely viewed as a response to China’s Belt and Road Initiative.

One of its central objectives is to diversify Europe’s imports of critical raw materials, particularly by reducing dependence on supplies from China.

During a visit to China in late May 2026, German Economy Minister Katherina Reiche of the CDU underscored the importance of secure access to critical raw materials and rare earth elements. This is the area in which Germany remains most dependent on China.

Colonial-era infrastructure remains intact

One of the clearest examples is the 1,300-kilometre Lobito Corridor, which runs from the edge of the Zambia-Southern Congo copper belt to the port of Lobito in Angola.

The core infrastructure of this trade corridor was established through the Benguela Railway, which was built as early as 1902 at the height of European colonial expansion. The railway extended eastward from the port city of Lobito through what is now Angola, providing access to the mineral-rich regions of southern Congo and Zambia.

In 1931, following completion of the initial railway line, the British mining and railway company Tanganyika Concessions transferred its 99-year concession rights to Portugal’s colony of Angola.

The concession expired in 2001, after which the infrastructure, previously controlled by Portuguese authorities, was transferred to the Angolan government.

By 2030, annual copper shipments through the route are expected to reach one million metric tonnes.

Both the EU and the US are relying heavily on the Lobito Corridor in an effort to counter China’s dominant position in Africa’s raw materials sector.

Estimates indicate that roughly two-thirds of global cobalt production originates in the Congo, where Chinese companies are particularly active in mining operations.

China also accounts for approximately 75% of global cobalt processing capacity.

The colonial-era rail line leading to Lobito is intended to redirect exports of copper, cobalt and other raw materials, which have until now largely been shipped eastward via Tanzania, toward western markets, enabling processing in Europe or North America rather than China.

Europe seeks to reduce dependence on China for the green transition

In addition to copper and cobalt, the region holds substantial deposits of lithium, coltan, nickel and rare earth elements, giving it significant economic importance.

These materials are used in electric vehicle batteries, stationary energy storage systems and alloys required for military aircraft production.

Until now, the EU has sourced much of these materials from China. Strategic investment in a new logistics hub in Luau, Angola, located along the Lobito Corridor, is intended to reduce that dependence.

The railway line along the corridor is already operated by a European consortium.

The consortium includes Swiss commodities trader Trafigura, Portuguese construction group Mota-Engil and Belgian rail company Vecturis.

However, the majority of the mines remain under Chinese control. In the Congo, 24 of the country’s 33 cobalt-exporting companies are Chinese-backed.

The Lobito Corridor is being developed through an EU-US partnership

EU efforts to secure influence over the Lobito Corridor are advancing in parallel with similar initiatives by the United States.

In early 2022, the US signed a memorandum of understanding with the EU and other G7 members to mobilise more than $600 billion for infrastructure projects worldwide over the following five years as part of the G7’s Partnership for Global Infrastructure and Investment (PGII).

The Lobito Corridor is one of five key trade, transit and development corridors in Southern Africa designed to improve transport efficiency.

During the administration of President Joe Biden, financing for the Lobito Corridor was launched under the G7’s PGII framework as a flagship project in cooperation with the Global Gateway initiative.

The EU also regards the expansion of the Lobito Corridor as a critical project and has committed more than €2 billion in funding.

That support could increase further. The next EU budget cycle beginning in 2028 envisages nearly doubling spending on development and external assistance, from €108 billion to €200 billion.

EU officials present the strategy as an effort to offer a more comprehensive approach to infrastructure financing than China’s Belt and Road Initiative.

‘America First’ in Africa

The US has pledged hundreds of millions of dollars for the expansion of the Lobito Corridor.

In the final quarter of 2025 alone, it provided $553 million in loans for the project’s expansion.

An additional $200 million in support came from the Development Bank of Southern Africa.

Unlike the Biden administration, which frequently described the initiative as development assistance, the second Trump administration openly characterises the project as an effort to weaken China’s influence, strengthen US control over critical raw materials and diversify supply chains.

For example, Frank Garcia, a former naval officer appointed in late May as Deputy Assistant Secretary of State for African Affairs, praised the Trump administration’s continuing engagement on the continent.

Highlighting the Lobito Corridor in particular, Garcia said the project aligns key US interests in Africa with the “America First” approach.

Germany in Africa for the energy transition

Last autumn, German President Frank-Walter Steinmeier travelled several kilometres on the newly restored railway line along the Lobito Corridor and described it as “a strategic infrastructure project of enormous economic importance.”

The German politician added: “Of course, this infrastructure connection also creates investment opportunities for European and German companies along its route.”

Portuguese construction company MCA is currently building solar energy parks in 60 municipalities across Angola at a cost of just under €1.29 billion.

The client is Angola’s Energy Ministry, while the German government is supporting the project through export credit guarantees.

Should Angola fail to meet its payment obligations, Germany would step in. A total of 95% of the project value is guaranteed by the Federal Republic of Germany.

In return, Angola agreed to allow German companies to participate in the project. For example, the battery storage system is being supplied by SMA Solar Technology, based in Niestetal near Kassel.

German solar technology provider Gantner Instruments Environment Solutions is supplying the digital control system.

Critics of the Lobito Corridor expansion warn that the project will primarily benefit the EU and the US.

In their view, the initiative promotes the export of African raw materials rather than strengthening intra-African trade.

Although the EU presents these measures as a development project aligned with African interests, critics argue that they ultimately represent a continuation of Western exploitation of African resources.

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EU presses Türkiye for non-Russian gas supplies under future energy contracts

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22/06/2026

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The European Union is insisting that natural gas delivered to member states via Türkiye under new supply agreements must not be of Russian origin.

German Economy Minister Katherina Reiche said after an official visit to Ankara that “Türkiye understands that the EU attaches great importance to ending the supply of raw materials originating from Russia and accepts this reality.”

Reiche added that Turkish officials had made it clear that replacing supplies from Russia could not be achieved overnight, either economically or in terms of available alternative sources.

As of June 17, a ban on pipeline natural gas imports from Russia under short-term contracts signed more than a year ago entered into force across the European Union.

The measure was approved by the Council of the European Union and the European Parliament at the end of last year. In January 2025, EU member states also voted to phase out Russian gas completely by 2027. Under that decision, member states are required to verify the origin of gas supplies before authorizing deliveries.

Meanwhile, Swiss-based company Nord Stream 2 AG, the operator of the Nord Stream 2 pipeline, has launched legal action challenging the regulation imposing the ban on Russian gas imports.

Türkiye, for its part, is continuing negotiations with Gazprom on natural gas supplies for the period after 2026, as existing contracts are approaching expiration.

Energy and Natural Resources Minister Alparslan Bayraktar previously said the parties had yet to reach agreement on potential shipment volumes and the duration of any new contracts.

In December 2025, Ankara extended by one year two agreements with Gazprom covering gas deliveries through the TurkStream and Blue Stream pipelines.

Türkiye is seeking to reduce Russia’s share of its gas supply mix. Russia’s share of Türkiye’s natural gas imports has already fallen below 40%.

As part of its energy diversification strategy, Ankara plans to replace part of Russian gas imports with supplies from the United States and Central Asia.

Bayraktar previously said that despite US calls to abandon Russian energy resources, Türkiye would continue purchasing natural gas from Russia.

“We cannot tell our citizens there is no gas available. We have agreements with Russia. Winter is approaching. We need gas from Russia, Azerbaijan and Turkmenistan,” Bayraktar said.

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