Overview of The Rackman Review episode: Jaishankar and Nusseibeh on the challenges of a world at war
This Financial Times panel discussion, hosted by Gideon Rachman at Finland’s Kultaranta Conference, brings together India’s foreign minister Subrahmanyam Jaishankar, UAE minister of state for foreign affairs Lana Nusseibeh, and Finland’s foreign minister Elina Valtonen. The conversation explores how different regions view the wars in Ukraine and the Middle East, how energy and trade are being reshaped by conflict, and why many countries are trying to balance principle with national interest in an increasingly unstable world.
Main themes
1. Different regions experience war differently
A central argument of the discussion is that global conflicts are not seen equally around the world.
- India sees the wars through the lens of energy security, trade, and its relationships with multiple sides.
- The UAE sees itself as directly exposed to regional instability, with missiles, drones, and threats to shipping routes.
- Finland and Europe view Russia’s war on Ukraine as an existential security issue, shaped by geography and proximity.
The panel repeatedly returns to the idea that many countries instinctively think of wars as “not my war” unless they are directly involved.
2. The Strait of Hormuz and global trade are under stress
Nusseibeh argues that the conflict around Iran is not just a regional issue but a stress test for the entire international system.
She frames the Strait of Hormuz as vital for:
- global energy supply
- food security
- fertilizer shipments
- container traffic
- freedom of navigation
Her message is that what happens in the Gulf affects the whole world, not just the countries nearby.
3. India’s position on Russia and Ukraine is pragmatic, not ideological
Jaishankar defends India’s purchase of Russian oil by stressing:
- oil is bought based on cost and availability
- much of the market’s available oil after 2022 was Russian
- India was encouraged by the US at one point to buy Russian oil to stabilize markets
He rejects the accusation that India is applying moral equivalence between Russia and Ukraine, and argues that Europe and the US also make selective, interest-based decisions.
4. The UAE is adapting through resilience and diversification
Nusseibeh describes the UAE’s response to repeated missile and drone attacks as a national resilience test that it has largely passed.
Key takeaways from her remarks:
- the UAE has built societal, economic, and military resilience
- more than 90% of attacks were intercepted successfully
- the country is accelerating strategic autonomy
- by 2027, the UAE aims to move all energy exports through alternative pipelines, reducing reliance on Hormuz
She also argues that the UAE’s model is one of calm, ambition, and creativity that still attracts capital despite regional instability.
5. Europe remains focused on Ukraine as an existential conflict
Valtonen is the most unequivocal voice on Russia-Ukraine:
- Ukraine must win
- Russia must lose
- preserving sovereignty and territory is non-negotiable
- Ukraine’s ability to strike deeper into Russia changes the strategic picture
She suggests the war is entering a different phase, with Russia under greater pressure than a few months earlier.
Views on Trump and shifting US policy
The panel also touches on Donald Trump’s second term and the volatility of US foreign policy.
Jaishankar’s view
- Trump’s second-term politics were more radical than many expected.
- Some policy changes, especially tariffs, were telegraphed in advance but still came with surprising intensity.
- India, not being a treaty ally, was affected differently than NATO partners.
Nusseibeh’s view
- The UAE was surprised by US-Israeli military actions.
- Regional states had been trying to prevent escalation and had hoped for de-escalation through diplomacy.
- The UAE’s response has been to double down on deterrence, integration, and partnerships.
What each speaker sees as the path forward
India
- Manage conflicts through diplomacy while protecting national interests.
- Build alternate energy and trade routes.
- Accept that global energy flows are already being reconfigured.
UAE
- Reduce dependence on vulnerable chokepoints like Hormuz.
- Invest in resilience and alternative infrastructure.
- Pursue regional integration through economic and strategic partnerships.
Finland / Europe
- Continue backing Ukraine.
- Support maritime security and freedom of navigation.
- Recognize that conflicts beyond Europe also shape the global order.
Notable insights
- “It’s not my war” is a common instinct across countries, even if few admit it openly.
- Global supply chains are being redrawn by conflict, sanctions, and strategic risk management.
- Capital seeks resilience and vision, not just physical safety.
- Regional conflicts are increasingly interconnected, from energy markets to food security to diplomacy.
Closing takeaway
The episode’s core message is that the world is entering a more fragmented era in which countries are forced to think less in moral absolutes and more in terms of resilience, redundancy, and strategic autonomy. India, the UAE, and Finland each bring different priorities, but all three recognize that local wars now have global consequences.
Next episode preview
The podcast ends by previewing a live FT Weekend Festival discussion in New York about America and the world in the Trump era, featuring:
- Kevin Rudd
- Philip Gordon
- Catherine Thompson