EU

Brent crude oil prices have surged to $100 per barrel, a significant rise since military actions against Iran commenced. In response, five EU ministers are advocating for a new EU-wide contributory mechanism to tax excess profits from multinational oil firms, addressing market distortions amid soaring fuel prices across Europe.

US Vice President JD Vance will visit Hungary on 4-5 April to meet Prime Minister Viktor Orbán and discuss the US-Hungary partnership. This visit comes ahead of Hungary’s general election, following President Trump’s endorsement of Orbán’s conservative agenda earlier this year.

Soaring energy prices and potential supply disruptions are forcing the European Union to balance climate goals with energy affordability. Energy Commissioner Dan Jørgensen stated the bloc will uphold its green transition, urging nations to invest in renewables despite delayed coal phase-outs in Italy and Germany’s short-term reliance on fossil fuels.

Hungary has increasingly wielded its veto power within the EU to obstruct decisions on Ukraine aid, sanctions against Russia, and budget matters since 2022. This shift reflects a new strategy, as experts warn the potential for deadlock now threatens the EU’s decision-making efficacy amid geopolitical challenges.

Luxembourg boasts the highest average hourly wage in Europe at €49.7, according to recent Eurostat data. In contrast, Latvia, Romania, and Bulgaria report the lowest rates, under €13. Notably, Bulgaria experienced the fastest salary growth, seeing a 69.4% increase from 2021 to 2025.

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