Sweden’s Saab CEO Micael Johansson urges EU states to consolidate defence expenditures into a common fund—aiming for €100 billion—to finance flagship military projects

Monday’s news is dominated by the latest in the Middle East and the upcoming G7 summit. The G7 summit is to start today, with world leaders arriving in Canada at a time of high tension and political chaos. The summit will focus on de-escalating tensions between Israel and Iran, the US tariff war and the ongoing war in Ukraine.

Tehran perceives its recent rocket strikes on Israel as “effective”, resulting in at least five fatalities in central Israeli cities including Tel Aviv and Bnei Brak.

Prime Minister Keir Starmer has launched a diplomatic campaign in Canada ahead of the G7 summit, urging global leaders—including Donald Trump and Emmanuel Macron—to defuse rising tensions between Israel and Iran.

The 51st G7 Summit kicked off on 16–17 June 2025 in Alberta, hosted by Canadian PM Mark Carney, marking Canada’s second summit here since 2002. 

The G7 summit in Kananaskis, Canada, is primarily focused on the Israel-Iran conflict, with leaders seeking de-escalation amidst ongoing global crises.