Europe’s Banks Quietly Mobilize for Economic Warfare

10/18/25
ECONOMIC WARFARE
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When French bank BNP Paribas quietly dropped its ban on financing ‘controversial weapons’ in September, it looked like a technical tweak. But far from semantics, it was a shift in how finance can serve strategy.

As Europe’s banking sector begins to re-align with the imperatives of rearmament, deterrence and economic statecraft, Australia should take note and develop mechanisms to mobilize finance for national security.

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