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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.
Roberto Mazzarella, 48, one of Italy’s most wanted fugitives, has been captured, reducing the list of dangerous criminals to three. Authorities seized €20,000 in cash and forged documents during the operation, linked to Mazzarella’s extensive drug trafficking and money laundering activities in Naples.
EU ENERGY CONTEXT
This morning, Europe faces escalating pressures on energy supply and costs amid ongoing geopolitical tensions.
Continued discussions on regulatory measures are expected.
Houthi rebels sank the cargo ship Eternity C in the Red Sea, resulting in at least four fatalities and many crew members kidnapped; 15 crew members remain unaccounted for.
On Monday, the European Commissioner was fighting for her political career as she appeared before MEPs ahead of her facing a no-confidence vote on Thursday.
Budapest police announced they will not pursue legal actions against participants of the Pride parade, despite the event being officially prohibited.
(Friday 11 July 2025) – Ursula von der Leyen survived her no-confidence vote with ease, after MEPs sought to oust her. The political fallout could still be significant, with the motion reigniting concerns about her leadership style, lack of transparency and political positioning.
Much of the European news has been dominated by the ongoing heatwave sweeping the continent, with the UK set for a third heatwave this week. Plenty of European countries have issued health warnings, whilst other European nations are battling wildfires amid the extreme heat.
The Euro 2025 is in full swing, with this Sunday marking the final matches in the group stages. England’s Chelsea and France’s PSG face off for the Club World Cup final.
Poland’s government has announced temporary border controls along its frontiers with Germany and Lithuania, beginning 7 July for 30 days.
France has established a “Diplomatic Reserve”, aiming to recruit 1,000 volunteers by year-end to support citizen services abroad, strengthen diplomatic outreach, and counter misinformation.
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