Headlines

Ukraine should focus on hitting Russian oil infrastructure

On Friday I sent out a piece entitled “The US does not understand air power, does Ukraine?” It caused a little stir. People have called it the anti-Wildberries campaign, which I suppose is partly right. However, the key thing was that it called for focus in airpower and argued

Asia

Insurance shows Hormuz is a balance sheet, not just a battlefield

Here’s the number that tells you more about this crisis than any missile count: War-risk insurance on a tanker passing through Hormuz used to run about 0.15 percent of the vessel’s value. Barely worth mentioning on a shipping company’s books. At the height of the fighting this

Asia