๐Ÿ“ฐ Europeans warn China

and White House seeks $87.6 billion

Good morning,

The leaders of Europe's five largest military powers have met in Berlin to align on Ukraine and NATO ahead of July's Ankara summit, as Washington scales back its European troop presence and demands greater burden-sharing.

Meanwhile, Alibaba has sued the Pentagon over its Chinese military company designation, Trump has asked Congress for $87.6 billion for Iran war costs, and oil fell below $75 for the first time since the conflict began.

Read more below โคต๏ธ

Top 5 Stories

1๏ธโƒฃ ๐Ÿ‡จ๐Ÿ‡ณ๐Ÿ‡บ๐Ÿ‡ธ Alibaba takes Pentagon to court over military firm label: The tech giant filed a lawsuit challenging its designation as a Chinese military company, saying the ruling is legally unfounded and disrupting its US business partnerships. Alibaba argues it holds no military certification and that cooperation with Chinese government ministries is a legal requirement imposed on all firms operating in China.

2๏ธโƒฃ ๐Ÿ‡ฌ๐Ÿ‡ง๐Ÿ‡ฉ๐Ÿ‡ช๐Ÿ‡ซ๐Ÿ‡ท๐Ÿ‡น๐Ÿ‡ผ Britain, France and Germany warn China over Taiwan activities: The three European powers issued a joint statement from Taipei expressing concern over Chinese military activities east of Taiwan, saying they pose a threat to regional stability and freedom of navigation. China's newest aircraft carrier transited the Taiwan Strait as Taiwan launched a five-day military exercise to test its combat readiness.

3๏ธโƒฃ ๐Ÿ‡ฏ๐Ÿ‡ต๐Ÿ‡ง๐Ÿ‡ช Japan's imperial couple arrive in Belgium for state visit: Emperor Naruhito and Empress Masako landed in Brussels to mark 160 years of bilateral diplomatic ties, with engagements including a state banquet at the Castle of Laeken and meetings with Belgian political leaders. The two nations highlighted shared commitments to the rule of law, with over 280 Japanese companies employing around 30,000 people across Belgium.

4๏ธโƒฃ ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡ฎ๐Ÿ‡ท White House seeks $87.6 billion from Congress for Iran war: The supplemental request covers operational and munitions costs under Operation Epic Fury, including $21 billion for weapons and $17.3 billion for military operations, and faces resistance from Republican lawmakers ahead of November's midterms. Trump held a combative meeting with senators the day after Congress passed a war powers resolution, calling four Republicans who supported it "losers."

5๏ธโƒฃ ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡ฎ๐Ÿ‡ท IAEA confirms Iran nuclear inspections will proceed: Director general Rafael Grossi said the US-Iran memorandum of understanding unambiguously provides for inspections of Iran's enrichment sites, with dates to be finalised in the coming days. Iran's deputy foreign minister pushed back, insisting that access to sites damaged in US strikes would only be negotiated as part of a final deal, contingent on a full lifting of American sanctions.

Major Story

๐Ÿ‡ฉ๐Ÿ‡ช๐Ÿ‡ซ๐Ÿ‡ท๐Ÿ‡ฌ๐Ÿ‡ง๐Ÿ‡ฎ๐Ÿ‡น๐Ÿ‡ต๐Ÿ‡ฑ Europe's five military powers align on Ukraine and NATO in Berlin

The leaders of Europe's five largest military powers gathered in Berlin for an E5 summit ahead of July's NATO summit in Ankara, with discussions focused on security guarantees for Ukraine, European burden-sharing and replacing US military capabilities as Washington scales back its continental presence.

Germany's Friedrich Merz hosted France's Emmanuel Macron, UK's Keir Starmer, Italy's Giorgia Meloni and Poland's Donald Tusk, with NATO Secretary-General Mark Rutte joining via video from his White House meeting with Trump.

The summit built on what Macron called the "ร‰vian moment" of G7 unity on Ukraine, with all five leaders pledging to boost defence spending and coordinate on long-range weapons, air defence and artificial intelligence ahead of the Ankara summit on July 7-8.

The gathering came amid heightened pressure from Washington, with US Defence Secretary Hegseth having ordered a six-month review of American troop levels in Europe after publicly lambasting NATO allies at a Brussels meeting for insufficient support.

Other News

1๏ธโƒฃ ๐Ÿ‡ฉ๐Ÿ‡ช๐Ÿ‡ท๐Ÿ‡บ Germany raids suspects over alleged Russian gas sabotage: Authorities conducted searches in Berlin and Frankfurt targeting individuals linked to the suspected sabotage of Germany's gas supply, connected to the 2022 transfer of Gazprom's German subsidiary. A Moscow-based company with no energy sector background acquired Gazprom Germania, which held a quarter of Germany's gas storage capacity, and subsequently ordered its liquidation.

2๏ธโƒฃ ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡ฎ๐Ÿ‡ท Iran pledges no Hormuz charges as oil prices fall: Trump said Tehran had personally assured him no fees or tolls would be imposed on vessels transiting the Strait of Hormuz, as Secretary of State Rubio launched a Gulf tour to brief regional allies on the US-Iran deal. Oil dropped below $75 a barrel for the first time since the conflict began, with 20 million barrels passing through the strait in a 24-hour window.

3๏ธโƒฃ ๐Ÿ‡บ๐Ÿ‡ฆ๐Ÿ‡ท๐Ÿ‡บ Ukraine strikes Crimea railway bridge as Trump backs Zelenskyy: Ukrainian forces hit a key Crimea rail crossing and launched attacks on a Russian oil refinery and gas processing plant as part of a widening aerial campaign against Russian infrastructure. Trump described Zelenskyy as "courageous" and said he was "doing pretty well," as E5 leaders in Berlin reaffirmed their support, with the UK committing ยฃ290 million for Ukraine's recovery and energy security.

If you like our newsletter, we also recommend these:

Exec Sum - A concise daily snapshot of what matters across markets, tech, and business, Exec Sum is a solid read.

Hodl Report โ€“ A short daily briefing covering crypto market news, trends, and developments, designed to help readers stay informed.

The Wealth Potion โ€“ A weekly deep dive into personal finance, macro, and entrepreneurship, blending analysis, ideas, and big-picture thinking.

Techpresso - If you want a quick way to keep up with AI and tech each day, Techpresso delivers the key stories in about five minutes.

TLDR Newsletter - A fast daily rundown of the most interesting stories across tech, startups, and programming.

What would you rate this newsletter?

Login or Subscribe to participate in polls.

Weekly Updates?

Want weekly updates as well as daily?

Subscribe to our sister publication Geopolitics Weekly here โคต๏ธ

Our Shop