A Russian frigate fired flares at a Danish military helicopter over the Baltic Sea, escalating tensions between Russia and NATO member Denmark. Copenhagen summoned the Russian ambassador in response, highlighting the heightened diplomatic-military tension in the region. Russia rejected Denmark’s characterization of the event while announcing an investigation into the incident. Market pricing reflects an increased likelihood of a military clash, with odds for a NATO-Russia conflict by December 31, 2026, standing at 25.5% YES.
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