European Union

Brussels rejects UK bid for decision-making role in EU

Brussels has rebuffed a British request to participate in EU decision-making, creating a fresh obstacle to the already delayed reset of post-Brexit relations between the United Kingdom and the European Union, according to the Financial Times.

EU-US trade hit record €875B in 2025, but auto exports plunged, study finds

Goods trade between the European Union and the United States reached a record €875 billion in 2025, but the headline figure conceals a sharp decline in European automotive exports to America, according to a study published Friday by the German…

EU LNG imports fall 18% in June as Gulf outage drags on

Europe's liquefied natural gas imports declined sharply in June 2026, dropping roughly 18% compared with the same month a year earlier to approximately 7.5 million metric tons, as the prolonged loss of Qatari production following Iran's attacks on Persian Gulf…

Goldman says EU losing market share to China is bigger growth drag than trade gap

The European Union's economic relationship with China is under growing strain, with Goldman Sachs The Goldman Sachs Group, Inc. warning on Thursday that the bloc's real problem is not the trade deficit itself but the rapid loss of global market…

EU chip sector faces ‘bleak future’ from US, China risks, report finds

Europe's semiconductor industry confronts a "bleak future" squeezed between Chinese export controls on critical materials and deep technological dependence on the United States, according to an EU-funded report published Thursday that lays bare the structural vulnerabilities threatening the bloc's chip…

EU set to weaken data centre climate rules after Big Tech lobbying

The European Union is preparing to soften proposed climate regulations for data centres, allowing operators to use a broader range of energy certificates — including those tied to nuclear power — to offset emissions from gas-powered facilities, according to the…

EU top court upholds record €4.1B antitrust fine against Google

The European Union's highest court on Thursday dismissed Google's Alphabet Inc. final appeal against a €4.1 billion ($4.7 billion) antitrust fine, ending an eight-year legal battle over the tech giant's use of its Android operating system to stifle competition and…

Russia shuts rail border crossings with Finland, Estonia, Latvia

Russia on Wednesday suspended all rail traffic through seven border crossings with Finland, Estonia, and Latvia, severing some of its last remaining railway links with the European Union without offering any explanation for the move.

EU’s MiCA crypto deadline takes effect, locking out unlicensed firms

As the European Union's Markets in Crypto-Assets Regulation reached its final enforcement deadline on July 1, 2026, a cluster of crypto firms announced they had cleared the regulatory hurdle just in time — securing MiCA authorizations that grant them passporting…

EU crypto exchanges collapse as MiCA deadline takes effect

As the European Union's Markets in Crypto-Assets Regulation reaches its final enforcement deadline on July 1, two cryptocurrency platforms have become early casualties of the new regulatory order — one in Estonia, the other in the Netherlands — leaving tens…

Cook holds ‘constructive’ talks with EU over Siri AI standoff

Apple CEO Tim Cook held a virtual meeting with EU Executive Vice-President Henna Virkkunen on Tuesday to discuss the ongoing standoff over the company's new AI-powered Siri features in Europe, with both sides describing the exchange as "constructive," according to…

Microsoft’s first EU tax report shows $47B in Ireland profits

Microsoft on Tuesday published its first public country-by-country tax report, revealing the extent to which the tech giant's profits are concentrated in Ireland, a disclosure driven by new European Union transparency rules that took effect this year.

Europe set to enter winter with gas stocks at 15-year low

Europe is on track to enter the upcoming heating season with its lowest gas storage levels in at least 15 years, raising the prospect of price spikes and supply vulnerability heading into winter 2026-27. The Financial Times reported on June…

Shein pulls products after tests find extreme chemical levels

Shein has removed clothing items from its global marketplace after laboratory tests commissioned by Deutsche Umwelthilfe (DUH), a German environmental organization, revealed chemical contamination exceeding EU safety limits by thousands of times. The fast-fashion platform said it is investigating the…

Austria urges EU to lure Anthropic after US export controls cut access

Austria's State Secretary for Digitalization Alexander Pröll has written to European Commission Executive Vice President Henna Virkkunen urging the bloc to explore the "strategic establishment and participation" of Anthropic within the European Union, following a US export-control directive that abruptly…

Baltic states urge EU to revive stalled Russian oil ban

Estonia, Latvia, and Lithuania urged the European Commission this week to accelerate a legislative proposal for a complete ban on Russian oil imports, arguing that fears of an energy crisis sparked by the closure of the Strait of Hormuz have…

EU steel exports plunge 33% as trade tensions mount

The European Union's steel imports fell sharply in the first quarter of 2026, declining 23 percent year-on-year, according to the latest quarterly report from the European Steel Association (EUROFER), as the bloc's steel sector contends with deepening global trade frictions…

Italy’s Domyn plans open-source frontier AI model within a year

Italian AI company Domyn will release a fully open-source frontier AI model within a year, CEO Uljan Sharka announced on Thursday, in a bid to reduce Europe's dependence on American and Chinese artificial intelligence technology.

Crypto firms race for EU MiCA licenses ahead of July 1 deadline

With just days remaining before the European Union's July 1 hard enforcement deadline for the Markets in Crypto-Assets Regulation, a cluster of crypto firms have locked in authorizations to continue serving clients across the bloc — capping a months-long scramble…

EU proposes eliminating cross-border withholding taxes to save businesses billions

The European Commission on Wednesday unveiled a sweeping corporate tax reform package projected to save businesses nearly €8 billion annually in compliance costs, marking the bloc's most ambitious effort yet to cut red tape and boost competitiveness.

UniCredit CEO says ECB likely to rule it controls Commerzbank

Teresa Ribera, the European Union's competition chief, has urged member states to stop resisting cross-border bank consolidation, arguing that deals benefiting the single market should be welcomed rather than thwarted by national governments.

ECB’s Lagarde calls for talks on yuan undervaluation

European Trade Commissioner Maros Sefcovic will host Chinese Commerce Minister Wang Wentao in Brussels on June 29-30 for what officials have described as "crunch talks" on the bloc's widening trade deficit with China, as pressure mounts from EU leaders and…

Chinese EV stocks tumble on planned EU hybrid tariffs

The European Commission is preparing to impose countervailing duties on plug-in hybrid vehicles imported from China, closing a loophole that had allowed Chinese automakers to bypass the steep tariffs already levied on battery electric vehicles. The news, first reported by…

US AI curbs push European firms to diversify providers

Restrictions on access to certain American artificial intelligence services are prompting major European companies to accelerate their efforts to spread risk across multiple AI providers, reinforcing the push for domestic alternatives on the continent.

EU’s new €3 duty on cheap online imports takes effect July 1

The European Union will begin imposing a flat €3 customs duty on low-value parcels shipped from outside the bloc starting July 1, abolishing a long-standing exemption that allowed goods worth up to €150 to enter without customs charges. The measure,…

EU leaders commit to ‘decisively’ ramping up defense by 2030

European Union leaders concluded a two-day summit in Brussels on Friday with a commitment to accelerate the bloc's military readiness by 2030, condemn Russia's ongoing aggression against Ukraine, and chart a tougher economic course against Chinese trade dominance — setting…

EU bars regulated crypto firms from privacy coins starting July 2027

The European Union's sweeping anti-money laundering regulation will bar regulated crypto exchanges and custodians from supporting privacy-enhancing cryptocurrencies when it takes full effect on July 10, 2027, while peer-to-peer Bitcoin transfers between self-hosted wallets will remain outside mandatory identification requirements.

EU tech chief uses Anthropic ban to push digital sovereignty

The US government's abrupt order forcing Anthropic to suspend its most advanced AI models for all non-American users has become a rallying point for European officials seeking to accelerate the continent's technological independence, with EU Executive Vice President Henna Virkkunen…

EU draft plan would free banks to move capital across borders

The European Commission is preparing to dismantle longstanding barriers that prevent banks from moving capital freely across EU member states, according to a draft report first reported by the Financial Times on Thursday. The move is part of a broader…

EU pushes for role in US-Iran talks after MOU signing

The formal signing of the US-Iran memorandum of understanding on Wednesday has opened a new chapter in transatlantic diplomacy, with European leaders insisting they can contribute to the next phase of negotiations even as analysts warn the bloc risks permanent…