The FT News Briefing for June 20th covers several key global economic and political developments. Russia's finance minister admits the country's war-time economy is slowing, potentially heading towards a recession due to tapering public spending and high interest rates. The European Union is urgently seeking a trade agreement with the U.S., modeled after the UK deal, to avoid the reinstatement of higher tariffs. The Bank of England has held steady interest rates amidst concerns about inflation and the potential impact of the conflict between Israel and Iran on global energy prices. Finally, the podcast addresses the dire humanitarian crisis in Gaza, with a U.N. official describing the chaotic and militarized aid distribution, the severe water famine, and the urgent need for a ceasefire to allow adequate aid to reach civilians.
