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French nuclear weapons revamp upsets Russia's calculus

Caught between bellicose Russia and an unsteady U.S., Paris is expanding its nuclear arsenal and moving to strengthen European deterrence. The EU's only nuclear power announced on March 2 that it would increase the number of its warheads from roughly 290 to undisclosed levels — the first such move since 1992. France is also signalling its new nuclear "forward deterrence" could extend to European allies, while inviting them to joint nuclear exercises. Francois Heisbourg, a security expert at t

France’s President Emmanuel Macron in Crozon, France, on March 2, 2026.

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As markets opened on March 2, Russian officials were quick to frame the escalating Middle East crisis as an economic opportunity for the Kremlin. Within hours of the first U.S. and Israeli strikes, Russian Envoy Kirill Dmitriev quickly posted on X about crude potentially hitting "$100+" per barrel. Brent crude futures on the London ICE exchange initially had risen 13.04%, peaking at $82.37 per barrel — the highest level in over a year. Prices later eased to $79.38. The spike followed Iran's M

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