Will the wheels come off Nato?
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 24 June 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
US president Donald Trump has said Israel and Iran have agreed a ceasefire, shifting priorities in the US are putting pressure on Nato members in Europe, and emerging markets defy US President Donald Trump’s trade war. Plus, the US has yet to find Iran’s uranium stockpile.
Mentioned in this podcast:
Donald Trump claims Israel and Iran have agreed ceasefire
What happens to Nato if the US steps back?
Where is Iran’s uranium? Search continues for 400kg stockpile
Emerging markets defy investor gloom to outshine developed world
Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, and we expect this to grow to |
| 0:23.3 | over 7 million UK households. We're an energy company searching for better. Equinor.com.uk. |
| 0:32.3 | Good morning from the Financial Times. Today is Tuesday, June 24th, and this is your FT News Briefing. |
| 0:38.9 | There may be temporary peace in the Middle East, and investors are really coming around to emerging |
| 0:45.1 | markets. |
| 0:46.3 | Plus, NATO is meeting in the Hague this week with a bit of an identity crisis. |
| 0:51.1 | The way to see NATO right now is like a wheel. |
| 0:53.5 | America is the hub and European countries |
| 0:56.1 | are the spokes. If you take out the hub, that wheel collapses. I'm Mark Filipino and here's the news |
| 1:01.8 | you need to start your day. |
| 1:09.2 | U.S. President Donald Trump's as Iran and Israel have agreed to a, quote, complete and total |
| 1:13.7 | ceasefire. The president posted the announcement on his truth social network on Monday night. |
| 1:19.3 | Israel first struck Iran a little over a week ago, and the U.S. hit Iranian nuclear sites over the weekend. |
| 1:25.1 | Iran has retaliated against Israel, and yesterday launched |
| 1:28.5 | missiles at a U.S. air base in Qatar. The Pentagon said it wasn't aware of any damage that |
| 1:33.9 | Iran claims missiles did hit the base. The price of oil has been whipsawing through all of this, |
| 1:39.6 | and yesterday the cost of Brent crew dropped more than 7%. That was its biggest one-day drop since August of 2022. |
| 1:54.5 | So those U.S. strikes on Iran over the weekend. |
| 1:57.0 | Do they actually destroy Tehran's nuclear program? |
... |
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