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Intrigue

Daily flyovers

Latest news for 20 April 2026

Quick hits of consequential news from all corners of the world.

  1. 01

    BULGARIA

    Eurosceptic in the lead.

    Former president (and ex-fighter pilot) Rumen Radev looks set to emerge victorious from yesterday’s parliamentary elections, Bulgaria’s eighth in five years! (Guardian)

    Comment: The easy headline is that, just as Hungarians oust one Kremlin sympathiser, Bulgarians elect another. The more interesting line is that both railed against corruption and elite entrenchment, with foreign policy playing second fiddle. Still, given Bulgaria is both an EU and NATO member, Radev’s rise will make waves.

  2. 02

    UNITED ARAB EMIRATES

    Currency swap.

    The Emiratis have reportedly sought a currency swap line with the US Fed as a wartime financial lifeline, warning they might otherwise have to settle trades in China’s yuan if the war drags much longer. (WSJ $)

    Comment: It’s hard to even conceive of a situation in which the oil-rich Emiratis would run short of dollars, so this is probably best understood as a signal of frustration at US actions and related costs in the Gulf.

  3. 03

    JAPAN

    Aluminium shortages.

    Japanese companies are scrambling to secure alternative aluminium supplies amid a Hormuz-induced shortage. Middle East aluminium accounts for ~70% of imports for Japan’s auto industry, which is now sounding the alarm. (Japan Times)

    Comment: Btw, in breaking news, authorities have issued a tsunami warning after a 7.5 magnitude earthquake hit off the country's north-east. It’s the same seismic zone that produced Japan’s devastating 2011 quake — keep an eye on any disruption to Japan’s LNG import terminals in the area given energy supplies are already tight.

  4. 04

    NORTH KOREA

    Missile bonanza.

    The regime has launched another ballistic missile — we say ‘another’ because it’s the fourth such test in a month and the seventh since January. (CNBC)

    Comment: Kim testing missiles is nothing new, but his launch rate is increasing — it might be an attempt to normalise his antics, exploit the Iran distraction, and rattle the sabre ahead of Donald Trump’s highly-anticipated visit to China next month.

  5. 05

    AUSTRALIA

    Japanese warships.

    Canberra has agreed to pay $7B for Japan’s first three upgraded Mogami-class stealth frigates, with plans to then build another eight Down Under. (Reuters)

    Comment: This is a big deal: first, it’s Japan’s largest-ever postwar defence export (legalised in 2014), and second, it aims to modernise and expand Australia’s stretched surface fleet with a kind of swiss-army-knife of the seas.

  6. 06

    CUBA

    International solidarity.

    The leaders of Spain, Brazil, and Mexico have issued a joint statement voicing concern about the US fuel embargo on Cuba, while calling for a “sincere and respectful dialogue” with the Cuban regime. (Spain’s foreign ministry)

    Comment: They issued the statement from a Global Progressive Mobilisation summit co-hosted by Spain’s Sanchez and Brazil’s Lula, and attended by other left-leaning leaders like Mexico’s Sheinbaum and South Africa’s Ramaphosa. The statement is a counter to recent right-leaning moves (eg from Quito, San Jose) to sever Cuba ties.

  7. 07

    NIGERIA

    Defence agreement.

    Turkey has signed a deal to help Nigeria subdue a long-running jihadi insurgency, training 200 Nigerian special forces and collaborating on military tech. (New Arab)

    Comment: Turkey is snapping up defence deals like Pokémon thanks to its high-performance drones, plus its positioning as a third way amid East-West competition for influence across the continent.