We warned of ‘weapons’ being used last month. Immediately afterwards, China announced export controls on its rare earths; the Dutch government seized China-owned chipmaker Nexperia, which was about to be asset-stripped by its parent company, and which cut off chip supplies to EU industry in response; three EU oil refineries which take Russian fuel suffered explosions; the US dangled more military aid for Ukraine only to pivot at the last moment and opt for sanctioning Rosneft and Lukoil – though physical enforcement is key; Russia brandished a new nuclear weapon; the US restarted nuclear tests in response; US desire ... (full story)