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EU
The European Union’s sanctions on Russia, intended to undermine its war efforts in Ukraine, are showing signs of impact. Russia’s economy contracted by 0.3% early this year, with a ballooning public deficit and rising inflation, prompting officials, including President Putin, to seek measures for economic recovery.
EU MONITORING
EU ministers to address increasing border checks this morning.
Concerns raised over impacts on Schengen free movement.
Negotiations on the EU-US trade deal remain stalled, as the European Commission reported “progress” after late-night talks with MEPs and member state officials. Despite this, divisions persist over tariff safeguards, with further discussions scheduled for 19 May amid renewed US tariff threats.
ELECTRICITY AND MOBILITY
This morning, the EU and Switzerland signed crucial accords enhancing mobility and electricity trading.
Legal certainty for employers and commuters improves significantly.
New target aligns with the ongoing debates about the EU’s resilience to broader geopolitical challenges, particularly in the context of energy supply security and climate diplomacy amidst global concerns.
EU EMISSIONS LABEL
This morning, the European Union abandoned its emissions label plans for steel.
Industry concerns prompt a shift towards supporting low-carbon steel demand instead.
EU Urges Ukraine to Permit Access to Key Russian Oil Pipeline Today EU officials are…
MIDDLE EAST CONFLICT UPDATE
This morning, the escalating tensions in the Middle East following recent attack on Iran has increased the price of energy by 30% and catastrophic the significant humanitarian impact.
Most European States are assessing how to support their allies in the Gulf and prepare for potential fallout from diplomatic and security failures.
REFUGEE CRISIS
This morning, the EU faces potential spikes in asylum applications
due to US and Israel’s attacks on Iran, despite recent application declines.
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