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EU
The European Commission is contemplating a tax on excessive profits from the oil and gas sector as energy prices rise due to the ongoing Iran war. Pressure from Austria, Germany, Italy, Portugal, and Spain highlights concerns over energy affordability amidst the current crisis.
EASY OVERSIGHT
This morning, Europe faces concerns over fuel shortages amid ongoing discussions regarding regulations and potential funding reassessments within the EU.
Annalena Baerbock, President of the United Nations General Assembly, stated that the ongoing wars cannot be attributed to the UN, but rather member states’ actions. She emphasised the need for collective accountability, pointing out that veto powers within the Security Council obstruct peace efforts and reform proposals.
Political groups in the European Parliament agreed on the EU-US trade deal, established in July 2025 by US President Donald Trump and European Commission President Ursula von der Leyen. The deal requires ratification following controversies around tariffs and territorial sovereignty issues.
MEPs from Hungary’s Tisza party opposed European Parliament safeguards for the EU’s Mercosur trade deal, asserting support for local farmers. Their stance raises concerns within the European People’s Party as they lead in upcoming elections against Viktor Orbán’s government.
French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni have called for the European Union to re-engage diplomatically with Russia to influence post-war security discussions. This push has intensified amid debates on appointing a special envoy to streamline communication with the Kremlin.
European Commission President Ursula von der Leyen stated the proposed “European preference” aims to prioritise EU-made products in public procurement, essential for enhancing competitiveness and reducing dependency on foreign imports. Industry leaders warn of supply chain disruptions and increased costs.
EU officials have expressed concerns about Spain’s plan to regularise undocumented migrants, stating it could set a precedent for other member states. This development is significant as the EU seeks to manage migration effectively amidst ongoing challenges.
The European Court of Auditors (ECA) has raised concerns about a lack of clarity in tracking public funds in the EU’s proposed long-term agricultural budget for 2028-2034, warning it may create unpredictability for beneficiaries and hinder fund delivery.
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