AGP Executive Report
Last update: 12 hours agoMiddle East Tensions: EU leaders condemned the Houthi attack on Riyadh airport, which killed at least 12 and injured more than 300. Ursula von der Leyen called it a “dangerous escalation” and warned of risks to civilian infrastructure and global transport. Russia Sanctions: Brussels rejected Washington’s move to ease Russian fuel sanctions, saying extra revenue would help fund Moscow’s war in Ukraine. EU foreign ministers are set to discuss further sanctions. Budget Battle: Ireland proposed cutting the EU’s 2028–34 budget by 8%, or about €141 billion. Germany says the reductions do not go far enough, while MEPs warn they would weaken defence, competitiveness and support for farmers and regions. China Trade: The EU and China reached an understanding to curb hybrid-car exports, potentially cutting projected shipments by more than half over four years, and to ease rare-earth export licensing. Winter Energy: A report warns EU gas storage is unusually low and the bloc may need to cut winter demand by 7% to avoid shortages and price pressure. Resource Security: The Commission selected 46 projects to strengthen supplies of critical minerals for European industry, energy and defence.
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