Trump’s familiar slogan, Make America Great Again, risks taking on a different meaning. It may come to suggest a country that stands increasingly alone. Allies are being unsettled, while rivals appear more confident. Germany is in talks with Washington over the future of American bases on its soil. France, Italy and Spain have restricted access to their airspace for military flights bound for Israel.
It is not often said outright, but the latest Gulf conflict underlines a simple point. Europe is still a long way from replacing oil and gas with renewable energy. The first effects can already be seen in the UK, where spot gas prices have started to rise. They are nowhere near the peaks of 2022, but if the conflict continues, the pressure is likely to build.
The UK’s new Industrial Strategy (IS-8), launched in June 2025, commits over £86 billion to boost productivity, innovation and competitiveness across eight key sectors — from Clean Energy to Life Sciences. Early indicators show rising investment and job creation, particularly in AI, Energy and Defence, as the government accelerates efforts to drive industrial growth.
Ukraine’s defence sector is rapidly transforming amid ongoing conflict, with homegrown technologies like the long-range “Flamingo” missile boosting military autonomy and shifting the strategic balance. As Russia’s economy weakens under falling energy revenues and rising costs, pressure is mounting for a ceasefire — especially if the rouble again breaches 100 to the dollar, a threshold that could make continued war unsustainable.
Britain’s push to be both an AI superpower and a climate leader faces a growing energy crunch. Data centres demand heavy power, costs are soaring, and grid upgrades lag behind. Without credible solutions, the UK risks losing tech investment and undermining its green ambitions.
