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Sánchez Rejects Trump Trade Threat, Reaffirms Spain’s ‘No to War’ Stance

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Spanish Prime Minister Pedro Sánchez has firmly rejected US President Donald Trump’s threat to sever trade ties with Spain, reiterating Madrid’s opposition to war and what he described as breaches of international law. In a televised address from the Moncloa Palace, Sánchez said Spain’s position on conflicts in Ukraine, Gaza and Iran could be summed up as “no to war.” Trump had warned he would cut off trade with Spain after Madrid reportedly refused to allow US forces to use the jointly operated bases at Morón and Rota for strikes on Iran, calling Spain a “terrible partner” in NATO.

Sánchez avoided directly mentioning Trump’s trade ultimatum but stressed that “you cannot answer one illegality with another,” warning that escalating military actions risked wider catastrophe. He said Spain was assessing economic measures to shield citizens from the fallout of global tensions. The Spanish leader drew parallels with the 2003 Iraq invasion, recalling the “Azores trio” meeting between former US President George W. Bush, UK Prime Minister Tony Blair and Spain’s then-leader José María Aznar, and argued that intervention had left the world less secure.

European leaders rallied behind Madrid, with French President Emmanuel Macron and European Council President António Costa expressing solidarity. Domestically, Sánchez’s stance may resonate with voters, as recent polling suggests a strong majority of Spaniards hold negative views of Trump. However, uncertainty remains over whether Washington will follow through on its economic threats, adding pressure to Sánchez’s already fragile coalition government amid ongoing political and corruption challenges.

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Greek Appeals Court Upholds Criminal Organisation Convictions Against Golden Dawn

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An appeals court in Athens has upheld the landmark 2020 ruling that senior figures of the far-right Golden Dawn operated as a criminal organisation under the guise of a political party. Founder Nikos Mihaloliakos and six other top officials were again found guilty of leading the group, while another 24 defendants — including 11 former MPs — were convicted of membership. The court also reaffirmed convictions linked to the 2013 murder of left-wing musician Pavlos Fyssas and the violent assault on Egyptian fishermen in Athens.

The defendants face sentences of up to 15 years in prison. The appeal process began in 2022, and last December prosecutor Kyriaki Stefanatou urged judges to maintain the original verdicts, describing Golden Dawn as a “genuine child of Nazi ideology” whose actions were motivated by extremist beliefs targeting political opponents and migrants. More than 200 people gathered outside the Athens court to welcome the ruling, marking another significant moment in Greece’s long-running legal battle against the party.

Golden Dawn rose to prominence during Greece’s financial crisis, entering parliament in 2012 with 18 seats amid public anger over austerity and immigration. However, its support declined sharply after Fyssas’ murder, which led to the arrest of key members, including Mihaloliakos. Although he accepted “political responsibility” for the killing, he denied criminal liability and was released on health grounds in September 2025 before completing his 13-year sentence. The party has failed to return to parliament since 2019, while a newer far-right group, the Spartans — endorsed by former Golden Dawn spokesman Ilias Kasidiaris — has since secured two seats.

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German Intelligence Alleges Russia Concealing True War-Related Budget Deficit

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Germany’s foreign intelligence service, Federal Intelligence Service (BND), has accused Moscow of understating the economic toll of its war in Ukraine, estimating that Russia’s 2025 budget deficit is significantly higher than officially reported. In a LinkedIn post, the BND said the actual federal deficit stood at 8.01 trillion roubles, compared with the official figure of 5.65 trillion roubles, or 2.6% of GDP. The agency claimed the shortfall was about 2.36 trillion roubles ($30.45 billion) greater than acknowledged by Russian authorities.

The BND said Western sanctions were having a “clear effect” on the Russian economy, compounded by sharply lower oil and gas revenues due to falling global energy prices. According to the agency, Russia has been forced to sell oil at steep discounts amid sanctions and pressure from the United States on key buyers. It also estimated that Russia’s consolidated budget deficit, including regional accounts, widened to 8.3 trillion roubles in 2025, or 3.9% of GDP — more than double the level recorded in 2024.

The Kremlin dismissed concerns about deteriorating public finances, describing falling revenues and a widening deficit as “routine difficulties” that could be managed thanks to overall macroeconomic stability. Russia’s Finance Ministry has not publicly responded to the BND’s assessment. Although global oil prices have recently risen following U.S. and Israeli strikes on Iran, Reuters calculations suggest the rebound remains insufficient to balance Russia’s budget.

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Euro Zone Services Growth Picks Up Slightly as Demand Improves

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Services activity across the euro zone expanded at a slightly faster pace in February as demand conditions improved, according to a Purchasing Managers’ Index (PMI) survey compiled by S&P Global. The HCOB euro zone services PMI rose to 51.9 from 51.6 in January, signalling continued growth, though the pace of expansion remained modest. Economists noted that while momentum improved compared with the previous month, overall performance in the sector was still subdued.

New business volumes increased modestly, extending an expansion trend that began in August, while companies continued reducing backlogs of work for a fourth consecutive month. However, hiring growth slowed to a five-month low as business confidence softened. At the same time, cost pressures intensified sharply, with firms reporting rising wages, energy prices and transportation costs pushing input inflation to its highest level in nearly three years.

The data suggests the European Central Bank may remain cautious about cutting interest rates further, as persistent price pressures remain a concern. Among major economies, Germany recorded the strongest services growth, while activity slowed in Italy and Spain, and France’s services sector continued to contract, albeit at a slower pace. The services rebound helped lift the euro zone’s composite PMI to a three-month high, extending the region’s economic expansion to 14 months.

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Trump Threatens Trade Embargo on Spain Over Military Base Dispute

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U.S. President Donald Trump has threatened to halt all trade with Spain after Madrid refused to allow American forces to use its military bases for operations linked to strikes on Iran. Speaking during a meeting with German Chancellor Friedrich Merz, Trump said he had instructed U.S. officials to consider cutting off economic dealings with Spain, accusing the NATO ally of failing to support U.S. security objectives and defence commitments.

The dispute follows Spain’s decision to deny the use of the Rota and Moron air bases for Iran-related military missions, prompting the relocation of U.S. aircraft stationed there. Trump also criticised Spain for not meeting proposed NATO defence spending targets and argued that U.S. law could allow trade restrictions or embargoes under emergency powers. However, legal experts noted that imposing a full trade embargo would require declaring Spain an extraordinary national security threat — a move considered difficult to justify.

Spain responded by stressing respect for international law, private business autonomy, and existing European Union trade agreements with Washington. Madrid said it was prepared to manage any economic impact while continuing to support free trade. Spain exports products such as olive oil, auto parts, steel, and chemicals to the U.S., though America currently maintains a trade surplus with Spain, highlighting the broader economic stakes of the escalating diplomatic tension.

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EU ‘Made in Europe’ Auto Plan Risks Trade Tensions

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The European Union is preparing to introduce stricter “Made in EU” requirements for automakers as part of a proposed Industrial Accelerator Act aimed at reviving domestic manufacturing. Under draft rules, electric vehicles would need at least 70% of their parts’ value — excluding the battery — produced within the bloc to qualify for subsidies, alongside minimum EU-based battery content. The move is designed to counter mounting pressure from cheaper Chinese electric vehicle imports and prevent further industrial decline.

However, the plan has exposed divisions within the EU. France has pushed for stronger protection of local suppliers, warning of further factory closures and job losses without firm local-content mandates. Germany, whose carmakers depend heavily on exports to China, fears that stricter rules could trigger retaliatory trade measures. Industry groups caution that global auto supply chains are deeply integrated, making compliance complex and raising the risk of disrupting production networks.

Non-EU countries such as Britain and Turkey, key manufacturing hubs for European brands, are lobbying to be included in the framework. Automakers warn that excluding these partners could weaken EU production itself, while including them may create loopholes for Chinese firms to benefit indirectly. With billions of euros in subsidies and thousands of jobs at stake, policymakers are walking a tightrope between strengthening European industry and avoiding backlash from global trading partners.

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Germany Warns Recruitment Is Armed Forces’ Biggest Challenge

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Germany’s armed forces face a critical recruitment shortfall that could force Berlin to reinstate compulsory military service if voluntary efforts fail, the country’s Parliamentary Commissioner for the Armed Forces has warned. In his annual report, Commissioner Henning Otte said personnel shortages remain the Bundeswehr’s most pressing bottleneck as Germany seeks to strengthen its military capabilities amid heightened security concerns over Russia and pressure from the United States.

Chancellor Friedrich Merz’s government has pledged to rebuild the Bundeswehr into Europe’s strongest conventional army after years of underinvestment. Berlin aims to expand active troop numbers to 260,000 from nearly 185,000 and double reservist strength to 200,000 by the mid-2030s. As part of this effort, authorities have introduced a voluntary model requiring all 18-year-olds to complete a questionnaire indicating their interest in military service.

However, the report cautions that modest gains in troop numbers — about 3,000 additional active soldiers by the end of 2025 — may not be enough to meet ambitious targets. Demographic decline, competition for skilled workers and high dropout rates are limiting growth. The commissioner warned that political goals risk outpacing military realities, adding that a return to compulsory service may become necessary if voluntary recruitment does not deliver sufficient personnel.

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Zelensky Warns Middle East War Could Weaken Ukraine’s Defences

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Ukrainian President Volodymyr Zelensky has cautioned that escalating conflict in the Middle East could undermine Ukraine’s ability to secure vital air defence systems as it battles Russia’s invasion. He warned that allies, particularly the United States, might divert critical weapons such as Patriot missile systems to protect their own interests or support partners in the Gulf. Zelensky also expressed concern that global attention could shift away from Ukraine, risking reduced political and military backing at a crucial stage of the war.

Kyiv fears that soaring demand for interceptor missiles in the Gulf could create shortages and drive up costs worldwide, complicating Ukraine’s efforts to defend its skies from Russia’s nightly drone and missile strikes. Zelensky recalled that during previous tensions involving Iran, deliveries of air defence systems to Ukraine slowed. At the same time, he acknowledged a potential upside: strikes on Iranian military facilities could limit Tehran’s capacity to supply drones and missiles to Russia, although Moscow now produces modified Shahed drones domestically.

Analysts suggest Russia could benefit from rising global oil prices triggered by instability in the Gulf, potentially strengthening its war finances. Some argue President Vladimir Putin is carefully avoiding deeper involvement in the Middle East to maintain relations with Washington and gain leverage in negotiations over Ukraine. In Kyiv, however, concerns are mounting that prolonged conflict elsewhere may deepen war fatigue among allies, adding to a sense of uncertainty and strain as Ukraine enters another year of full-scale war.

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Netanyahu Says US-Israeli War on Iran Will Not Be Prolonged

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Israeli Prime Minister Benjamin Netanyahu said the war against Iran would be decisive and not drag on for years, describing it as potentially lasting weeks rather than becoming an “endless war.” Speaking in a televised interview, Netanyahu stressed that while the conflict may take some time, it would not mirror the prolonged wars of the past. The joint U.S.-Israeli air campaign began over the weekend, with Donald Trump initially suggesting a timeline of four to five weeks, though later remarks signalled a broader and open-ended approach.

The conflict has rapidly expanded beyond Iran and Israel, with Tehran launching missile and drone strikes targeting Israel, U.S. forces, and Gulf states hosting American bases. Israel has struck Iranian-linked targets in Lebanon, including Hezbollah positions, and reinforced troop deployments along its northern border. Iranian attacks have reportedly hit U.S. facilities in the region, including drone strikes near Riyadh and claims of damage to a U.S. base in Bahrain. Casualties have mounted across Iran, Israel, Lebanon and neighbouring states as exchanges intensify.

The escalating war has disrupted global aviation and energy markets, with thousands of Gulf flights cancelled and major hubs such as Dubai temporarily shut. Shipping through the Strait of Hormuz — a key artery for global oil trade — has been severely affected, driving oil prices and tanker rates sharply higher. Washington has ordered non-essential personnel to leave several regional countries, while U.S. Secretary of State Marco Rubio warned that stronger American military action could still follow. Diplomatic tensions remain high as global powers react to one of the most significant Middle East escalations in decades.

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Zelenskiy Says Russia Unlikely to Achieve Planned Advances in Ukraine

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Ukrainian President Volodymyr Zelenskiy said Russia will struggle to fulfil its planned military advances, asserting that Moscow has failed to meet objectives it set last year. Speaking in Kyiv, Zelenskiy stated that Russia’s broader strategy remains focused on occupying eastern and southern parts of Ukraine, but insisted that current battlefield realities do not support the ambitions outlined in Russian plans for 2026–2027.

According to Zelenskiy, Russia continues to prioritise full control of the Donetsk and Luhansk regions in the Donbas, while also eyeing advances toward the southeastern city of Dnipro and the southern Odesa region along the Black Sea. However, he said Ukraine does not believe Russian forces currently possess the capability to accomplish those objectives. The outcome, he added, will largely depend on continued Western weapons supplies and Ukraine’s expanding domestic arms production.

Russia’s Defence Ministry claimed its troops had captured three additional villages in eastern Ukraine as part of a prolonged offensive. Meanwhile, Ukraine’s General Staff said its forces had retaken nine settlements in the Zaporizhzhia region since late January and were continuing counteroffensive operations along the southeastern front. Territorial control remains a major sticking point in U.S.-mediated peace efforts, with Russia demanding concessions that Kyiv has firmly rejected.

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