Daily flyovers
Latest news for 18 December 2025
Quick hits of consequential news from all corners of the world.
- 01
UNITED STATES
Everything everywhere all at once.
In a final pre-Christmas rush of news, the Epstein files are due out Friday, Trump ally Dan Bongino has announced he’s stepping down as FBI deputy director, billionaire Musk ally Jared Isaacman has been confirmed as NASA’s next boss, and Congress has failed to pass a resolution curbing Trump’s claimed narco-boat strikes. (ABC)
- 02
RUSSIA
Mysterious death.
Serbian authorities want answers after a state-owned arms-maker executive turned up dead on a Moscow street last month. His death came after Russian intelligence accused Serbia’s defence sector of covertly selling arms to Ukraine. (Defence Blog)
- 03
TURKEY
What’s your returns policy?
Ankara has reportedly asked Russia to take back the S-400 air defence systems it sold Turkey, in a final bid to get US approval for top-tier F-35 jets instead. (Turkish Minute)
Comment: It’s quirky for a NATO ally to stock Russian kit, but this is now really just a cold calculation from Ankara: Russia’s S-400 has performed poorly against Ukraine, while America’s F-35 performed well (for Israel) against Iran. So it’s a no-brainer trade.
- 04
EUROPEAN UNION
50/50.
European leaders are now in Brussels deciding whether / how to use Russia’s frozen assets to back Ukraine’s self-defence. While most (like Germany’s Merz) support the idea, Italy’s Meloni wants a solid legal basis, and Belgium’s De Wever wants more EU backing against any Russian reprisals — executives at Belgium’s Euroclear have had to hire bodyguards amid Kremlin threats. (Guardian)
- 05
GERMANY
Last-minute shopping.
The German budget committee has approved a record ~$59B defence package, including new uniforms, protective equipment, and 200 fighting vehicles. (DW)
Comment: Lest you think the Germans are just splurging on fancy new threads, they’re almost tripling troop numbers to 450,000 by 2035, while investing more on their military over the last three years than in the eight years prior.
- 06
INDIA
Read the fine print.
India’s exports grew nearly 20% in November (yoy) thanks to increased trade with the US and China. (Al Jazeera)
Comment: Surprised by such a bump amid 50% US tariffs on India? India’s exports grew the most in sectors (like electronics and pharma) exempt from Trump’s tariffs.
- 07
BHUTAN
Bitcoin City’s back.
The Land of the Thunder Dragon is pledging up to 10,000 bitcoin (~$870M) to develop its planned new Gelephu Mindfulness City, after years of mining the cryptocurrency as a sovereign asset. (CoinDesk)