The EU also targeted the Nord Stream pipelines between Russia and Germany to prevent Putin from generating any revenue from them in future, notably by discouraging would-be investors. Russian energy giant Rosneft’s refinery in India was hit as well.

The Trump administration is pressing the European Union to accept blanket tariffs in the range of 15% or more, well above the level the bloc had initially negotiated with the U.S., people familiar with the matter said.

EU — around 42 million individuals — cannot afford a one-week holiday away from home. Euronews Business takes a closer look at the issue of holiday poverty.View on euronews

Crafting a budget for 27 countries stretching from Lapland to Lisbon is a fiddly process. In fiscal terms the “multi-annual financial framework”, as it is known in Brussels patois, is of peripheral concern.

Last weekend, Trump announced he is planning to hit the EU with a blanket tariff rate of 30% from Aug. 1, after last-minute negotiations failed to produce a framework deal. Huge uncertainty now hangs over whether an agreement can be struck in the next two weeks, and what details or compromises it might contain.

European Commission President Ursula von der Leyen has unveiled a proposal for a long-term EU budget that she says will total $2.3 trillion

A law letting the government block freedom of movement could be a deal-breaker for the EU. Yet a fudge might still be found. Switzerland’s government seems, after decades of hesitation, to have come round on the need for tighter integration with Europe, even if some Swiss would prefer to stop the clock. ■

Microsoft will likely sign the European Union's code of practice to help companies comply with the bloc's landmark artificial intelligence rules, its president told Reuters on Friday, while Meta Platforms rebuffed the guidelines.

German Chancellor Friedrich Merz said on Friday that he believed the negotiations between the European Union and the US on a solution to their trade dispute were in the final phase. Speaking to reporters at the traditional summer press conference in Berlin,