Geopolitical Review May 2026

The geopolitical landscape in May 2026 remains heavily influenced by the ongoing Iran conflict, disrupting global hydrocarbon trades and challenging US influence in the region. India is grappling with rising fuel prices, whilst the EU has cut its growth forecast for the year amidst the Iran war's fallout. Meanwhile, recent talks between China and Russia on energy exports highlight a potential strengthening of economic ties. In the Western Hemisphere, the situation in Cuba has also deteriorated drastically due to halted oil shipments and heightened US sanctions. Concurrently, Canada's Alberta is poised to hold a referendum on secession, showcasing regional discontent with Ottawa.