Canada’s Wildfires, OPEC Oil Report, NATO’s Largest Air Drill, and More

Canada’s unprecedented wildfire season overwhelms Canadian firefighters, and many in the eastern United States deal with dangerous levels of smoke; the Organization of the Petroleum Exporting Countries releases its monthly oil report as Saudi Arabia seeks to boost prices; Germany hosts NATO’s largest air defense exercise as a signal to Russia; and Ukraine rushes to respond to the humanitarian and security crises caused by the destruction of the Nova Kakhovka dam.

Play Button Pause Button
0:00 0:00
x
Host
  • Robert McMahon
    Managing Editor
Credits

Ester Fang - Associate Podcast Producer

Gabrielle Sierra - Editorial Director and Producer

United States

In this live series finale, Bob and Carla discuss the most pressing international news stories with special guest Deborah Amos. President Donald Trump virtually attends the annual Davos summit where he will address corporate and government leaders just three days after his inauguration; the next phase of hostage and prisoner swaps is due as part of the Israel-Hamas cease-fire deal; a tightly controlled presidential election in Belarus kicks off a new year of consequential elections around the globe; and TikTok is revived in the United States—for now— after President Trump forestalled the app’s initial ban.   This episode was originally produced live on January 21, 2025.

Israeli-Palestinian Conflict

Israel and Hamas reach a cease-fire deal aimed at exchanging hostages and prisoners while seeking a longer-term pause in fighting; the incoming Donald Trump administration weighs ambitious moves on immigration; Iranian President Masoud Pezeshkian and Russian President Vladimir Putin sign off on a twenty-year partnership agreement; and students in Serbia protest violations of civil rights.

United States

President-elect Donald Trump’s nominee for secretary of defense, Pete Hegseth, will appear before the Senate Armed Services Committee; the Supreme Court hears arguments over the Joe Biden administration’s imminent banning of TikTok; Canadian Prime Minister Justin Trudeau’s resignation prompts questions on the future of U.S.-Canada trade relations; and Europe’s eastern states confront energy issues after Ukraine stops the flow of Russian gas through its territory.

Top Stories on CFR

NATO (North Atlantic Treaty Organization)

With both summits ahead, European leaders will have two opportunities to convince Trump about the importance of aiding Ukraine and ensuring European security.

Immigration and Migration

The White House’s latest travel ban imposes restrictions on citizens from nineteen countries. Many of those affected are contending with crises at home.

Economics

There is too much talk about the dollar’s role as a reserve currency and too little talk about expectations of exceptional returns. Reserve accumulation hasn’t driven the financing of the U.S. current account deficit in recent years.