But there's also no fundamental need for a bold move either. Country relationships are almost entirely based on trade. It's 'nice' when there are ideology and policy overlaps, but they would get overlooked if there were serious trade disputes (although it's less likely to happen as it's easier to form trade agreements with the like-minded).

The relationship with the US is deteriorating entirely due to trade. The Iran war is an example of this because it completely fucks international and internal logistics. I don't think Australia, politically, cares if the US bomb Iran or even commit war crimes there, but the fact it affects trade (via oil prices and all the ripple effects of that) is the reason for at least preparation of an 'exit relationship' stance (and, of course, the other trade circus sideshows Trump is putting on, vis a vis tariffs).

I'm not sure Australia does much trade with Russia, hence Australia can support Ukraine until the cows come home, without risking trade margins.