The rising tensions in the Russian-Ukrainian conflict dominated the headlines this week after Ukraine decided to launch US-provided ATACMS ballistic missiles into Russian territory, despite Russian President Vladimir Putin changing his country's nuclear doctrine to allow the use of nuclear weapons following attacks by non-nuclear states aided by a nuclear state. The attack was seen as an escalation by Russian officials, after which Russia launched a new intermediate-range missile called Oreshnik against Ukraine. After reports that the United Kingdom and France also allowed Ukraine to use their long-range missiles, Storm Shadow, the Russian Defense Ministry reported that it downed two Storm Shadow missiles.
Additionally, the International Criminal Court (ICC) issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Israeli Defense Minister Yoav Gallant, saying they committed war crimes in the Gaza Strip. The decision was controversial, with some countries like the United Kingdom, Canada, Italy and Turkey stating that they would comply with the warrants, while the United States and Hungary rejected them. The European Union's High Representative for Foreign Affairs and Security Policy, Josep Borrell, stated that the warrants have to be "respected and implemented."
On the currency front, the world's leading cryptocurrency, Bitcoin, surged with increasing momentum. It hit a new record, topping the $98,000 mark and inching closer to the highly expected $100,000. Meanwhile, the price of gold reached record highs in euros and the British pound. On the other hand, the euro hit its lowest point against the dollar since 2022.
