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- G7 to release 100 million barrels of oil to address energy prices
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EU
The G7’s plan to release up to 100 million barrels of oil aims to fulfil its commitment from March’s 400-million-barrel emergency release, according to an internal IEA document. Despite some European nations already meeting obligations, ongoing tensions in the Middle East continue to impact diesel supply.
A Russian court sentenced Igor Yuryevich Odintsov, 68, to six years in prison for “publicly justifying terrorism” after he swam from Kaliningrad to Lithuania seeking asylum. He is barred from managing websites for three years post-release, reflecting ongoing tensions surrounding dissent in Russia.
Maricarmen Abascal, an elderly woman whose eviction in Madrid ignited nationwide protests, has died following her hospitalisation. Her case, reflecting Spain’s housing crisis, led to mass demonstrations and ultimately prompted Prime Minister Pedro Sanchez to call early elections amid ongoing civil unrest.
EFFECTS ON EUROPE
Overnight developments highlight Europe’s urgent response to energy shortages and economic challenges.
Focus remains on policy measures across the European Union.
Partial results from Iceland’s EU referendum show ‘No’ leading with 59.8% of votes cast, as counting continues. Approximately 10,000 votes are scrutinised, reflecting regional sensibilities about EU membership. Voter turnout appears comparable to the 2024 parliamentary elections, reaching around 80%.
Reykjavík recorded a higher voter turnout in the EU referendum by noon on Saturday, with 13.7% in the North constituency and over 14% in the South, surpassing 2024 parliamentary election figures. A close outcome is anticipated, with polls indicating a near tie on EU membership support.
Spain has requested European Commission assistance from Frontex and Europol to enhance migrant screening in Ceuta. The Interior Minister emphasised the need for electronic triage and processing as the situation remains critical, following the influx of over 72,000 migrants, with tensions rising among local residents.
European monarchs and world leaders are paying tribute to Norway’s King Harald, who died aged 89. The continent’s oldest reigning monarch leaves behind a legacy of unwavering dedication, with tributes highlighting his warmth, leadership, and unity-promoting efforts for Norway and beyond.
EU UPDATE
This morning, the European Union addresses regulatory challenges while reinforcing member-state collaboration on economic and security cooperation.
Key developments include budget discussions and strategic partnerships.
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