The Alliance Unravelling

The ContextOn 4 December 2025, the Trump administration released a National Security Strategy that fundamentally recalibrates the U.S.-Europe relationship. This is not a policy tweak. It is a strategic rupture. The document directs stronger language at European allies...

The Contagion Risk

The ContextThis isn’t a few companies failing. It’s a systemic rupture. In the first half of 2025, 17 mega-bankruptcies (companies with over $1bn in assets) were filed—the highest half-year count since the 2020 pandemic shock. Through November 2025, 717...

The Sanctions Laundromat

The ContextOn 24 July 2025, the U.S. State Department announced a $7 million reward for information on Sim Hyon-Sop, a North Korean national. Simultaneously, the Department of Justice filed to seize $7.74 million in laundered funds linked to his network. This is not a...

The Sanctions Mirage

The ContextOn 24 November 2025, the US Office of Foreign Assets Control (OFAC) imposed a $4,677,552 civil penalty on a US individual investor. The individual, acting through a real estate company, knowingly mortgaged, renovated, and sold a blocked property owned by a...

The Shredder Verdict

The ContextIn April 2022, a worker at ME Jukes & Son in Gisborne was killed after becoming trapped in a waste shredder. In 2025, Judge Warren Cathcart found the company guilty of a charge under the Health and Safety at Work Act 2015. The specific fine is pending,...