EU

The United States and Iran have reached a two-week ceasefire agreement, announced shortly before a military escalation deadline set by President Trump. The accord includes reopening the Strait of Hormuz, allowing tolls on transiting vessels, with further negotiations expected in Pakistan on Friday.

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The European Union has urged US President Donald Trump to avoid bombing civilian infrastructure in Iran, warning it could be classified as a war crime. The EU emphasised the need for “maximum restraint” and diplomacy to achieve a peaceful resolution amid rising tensions related to the Strait of Hormuz.

US Vice-President JD Vance accused the European Union of interference in Hungary’s electoral process during his Budapest visit ahead of Sunday’s pivotal vote. Criticising EU digital rules and suggesting foreign influence on the election, Vance expressed support for Prime Minister Viktor Orbán as a leadership model for Europe.

European Commission President Ursula von der Leyen announced the EU-INC initiative at the World Economic Forum, aimed at simplifying company formation across the EU. The proposal seeks to eliminate legal fragmentation, allowing startups to operate under a single online system by 2027.

Lawmakers at the European Parliament are struggling to agree on the design of the digital euro, jeopardising its legislative path. Rapporteur Fernando Navarrete proposed an offline “e-cash” model, while some factions back user accounts on the ECB ledger. S&D’s Nikos Papandreou emphasised the need for payment sovereignty amid geopolitical change.

Poland’s Foreign Minister Radosław Sikorski accused Elon Musk’s SpaceX of “making money on war crimes,” citing allegations of Russian forces using Starlink for drone operations in Ukraine. This follows evidence suggesting a significant increase in Russian drone attacks enabled by the technology.

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