Heatwave in Europe: Casualties Reported, Oil Below $75 & More
An extreme heatwave in Europe has led to human casualties, while global oil prices have reached their lowest levels in recent months. In the United States, there are discussions about converting car factories to missile production, which could alter the security balance, while Hungary has unblocked negotiations on European Union expansion.
Exercise caution when planning trips to Europe: dozens of people have died there due to extreme temperatures. On Monday, the heat forced the closure of about 1,350 schools; there are reports of the tragic deaths of two children in an overheated car. Authorities are urging residents and tourists to minimize their time in the sun as dangerous weather persists in several regions.
Global Brent crude oil prices have dropped below $75 per barrel for the first time since late February. Such a decrease in energy prices on the global market typically affects exchange rates and state budget revenues. The decline was recorded against a backdrop of ongoing instability in the Middle East.
Security risks could increase due to U.S. plans to ramp up military production. Donald Trump stated that major American car plants could be repurposed to produce Patriot anti-aircraft missiles (used for air defense) and Tomahawk cruise missiles. According to expert estimates, this could pose serious threats to Russia in the medium term.
The European Union expansion process is resuming: Hungary has lifted its veto on negotiations with Ukraine and Moldova. After a 17-month blockade, the parties agreed to start an official dialogue on accession from June 15. This decision changes the political situation in the region and opens the way for new interstate agreements.
In the attachment, you will find details about the speech by Chinese Premier Li Qiang and the plans of the defense giant KNDS to go public.