FT News Briefing The US targets Iran’s nuclear programme
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Jun 23, 2025 The U.S. is ramping up military efforts to target Iran’s nuclear facilities, marking a significant escalation in tensions. New tariffs on household goods reflect the fallout from ongoing trade wars. Meanwhile, a Russian burger chain is stepping in where McDonald's left off, capturing the local market amidst geopolitical changes. Additionally, scrutiny surrounds a fintech CEO's potential massive payday, raising questions about executive compensation in a shifting economic landscape.
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US Escalates Conflict With Iran
- The US has escalated the conflict by bombing three nuclear sites in Iran in a major strike.
- This operation risks drawing the US into a prolonged conflict and raises constitutional questions on presidential authority.
Iran's Response Options
- Iran retaliated immediately after the US strikes by launching missile attacks on Israel.
- Iran still has options like striking US troops, closing the Strait of Hormuz, and attacks via proxies.
Russia's Economy Turns Isolationist
- Russia's economy is shifting towards isolationism with a pivot to domestic manufacturing and China due to sanctions.
- Knockoff brands like the local "McDonald's" signify this return to a Soviet-style economy with less Western influence.