NATO Expansion & Nordic Security: NATO has begun operations to strengthen defenses around Sweden and Finland, focusing on the strategically vital, environmentally tough northeastern flank and the Baltic Sea corridor. Western Balkans Politics: Kosovo heads to its third parliamentary election in 18 months after parties failed to agree on replacing President Vjosa Osmani, risking another cycle of instability. Bosnia Governance Rift: A US-European dispute over Bosnia’s next international overseer has widened transatlantic divisions, with Washington warning it may reconsider its role in the country’s international framework. Ukraine-Russia Escalation: Ukraine launched a major drone assault on St Petersburg, targeting naval and oil infrastructure after Putin rejected Zelensky’s peace talks. Baltic Finance Push: The EBRD is deepening support for a unified pan-Baltic capital market, aiming to remove barriers and boost the region’s global index status. Anti-Corruption Drive (Bulgaria): A new SCC board member says he will focus on stopping corruption schemes by drafting transparent procedures and reviewing state company practices. Environment (Lake Shkodra): UNESCO designated Lake Shkodra a biosphere reserve, adding another protected-area milestone for the Balkans.