In the latest development of tensions in Europe, Finland has decided to join NATO and, in response, Russia’s Foreign Ministry said that the nation would “…be forced to take retaliatory steps, both of a military-technical and other nature, in order to stop threats to its national security arising.” 🌎
For obvious reasons, this could be a big deal for global markets. Here’s a quick summary of what this move would mean for international relations:
- Finland first signed a peace treaty with the Soviet Union in 1947 and a follow-up friendship treaty in 1992. Both Finland and Sweden remained neutral during the Cold War, so the two Nordic countries applying to NATO represents the largest shift security shift Europe has seen in decades.
- Finland’s ambassador claims joining NATO is a defensive move, not a threat against Russia. Neighboring countries agree. For example, Lithuania’s foreign minister commented: “Finland decided to join the Alliance. NATO is about to get stronger. Baltics about to get safer.”
- Meanwhile, Russia is less than thrilled given this would more than double the amount of land between Russia and NATO countries, placing NATO troops just hours from St. Petersburg.
This story is still developing and we’ll be keeping an eye on it in the weeks ahead. 🔎