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economicAug 11, 2026

Ukraine war sparked race for countries to build spy satellites, space-tech CEO says

Summary

- Russia’s invasion of Ukraine has accelerated a global push for governments to expand their satellite fleets, ICEYE CEO Rafal Modrzewski told CNBC on Tuesday. - Space is becoming a critical military asset that could help determine the outcome of future conflicts, he said.

Source: Elsa Ohlen — Read the full report

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  • Elsa OhlenBy Elsa Ohlen

    - Russia’s invasion of Ukraine has accelerated a global push for governments to expand their satellite fleets, ICEYE CEO Rafal Modrzewski told CNBC on Tuesday. - Space is becoming a critical military asset that could help determine the outcome of future conflicts, he said. - It c…

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Iran’s Islamic Revolutionary Guard Corps Navy reported late Saturday that two oil tankers were burning after striking naval mines in and near the Strait of Hormuz. The IRGC stated that the vessels had switched off their navigation and positioning systems and attempted to use an unauthorized route.

The group accused both ships of multiple violations, specifying that one was hit east of the strait and the other inside it.

Location: Strait of Hormuz