European nations could face a trillion-dollar rearmament bill in the face of a looming Russian threat and an imminent US defense review that could see Washington dramatically draw down forces on the continent, according to a report released on September 3. The 106-page report, by the London-based International Institute for Strategic Studies (IISS), points to gaps across the board: in production, intelligence, and military hardware such as long-range missiles or air and missile defense. “Chief among the reasons for this greater urgency are...