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EU considering excessive profit taxes on oil and gas companies

The European Commission is considering taxing windfall profits, similar to the mechanism applied in 2022 during the natural gas crisis. The plea came from five EU countries, which also called for the tax to be expanded to foreign profits dealing with fossil fuels.

Business

TotalEnergies closes major Saudi refinery after attacks

TotalEnergies has shut a major Saudi refinery after attacks, as Middle East disruptions force it to halt about 15% of its output.

Brussels, My Love?

Fragile ceasefire and energy system: How can Europeans cope?

The ceasefire reached in the Middle East is already at risk. Is there anything European consumers can to be safe from the instability?

Europe News

Trump issues NATO ultimatum to reopen Strait of Hormuz 'within days'

US President told NATO Secretary General Mark Rutte that NATO countries must work on a solution to resolve the crisis in the Strait of Hormuz immediately. Allies had originally committed to helping reopen the strait once hostilities had come to an end.

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Business

'No return to normal': IMF warns of lasting damage from Iran war

The IMF is cutting its global growth forecast, preparing €42.9bn in emergency aid and warning that 45 million people face food insecurity.

Europe Today

'NATO not obliged to reopen the Strait,' Turkey's trade minister says

US President Trump has issued an ultimatum to NATO countries to find a solution to reopening the Strait of Hormuz within days. Turkey – which has the second-largest army in NATO – says the alliance is not obliged to intervene.

Markets

Stocks rise and oil prices gain as investors await ceasefire talks

Markets have remained positive, with oil prices edging slightly upward, coupled with gains for global equities ahead of the US-Iran talks in Islamabad on Saturday.

Europe Today

Vance heads to Pakistan for peace talks as Iran truce under strain

Tune in to Europe Today, Euronews' flagship morning programme at 8 am Brussels time. In just 20 minutes, we bring you up to speed on the biggest news of the day.

Climate

France is turning its back on fossil fuels – with a €240m plan

French Prime Minister Sébastian Lecornu says electrification is now a concern of ‘national interest’ and no longer just about climate change.

Germany

Germany resumes talks with Iran, Chancellor Friedrich Merz says

Merz also said that the continued Israeli military campaign in Lebanon could jeopardise peace talks expected between the United States and Iran over the war in the Middle East.

Lebanon

Israel's cabinet told 'to begin direct negotiations' with Lebanon

The statement from the prime minister's office comes on the same day that the Israeli military warned residents of Beirut's southern suburbs of imminent strikes and called for them to evacuate.

USA

Trump again berates NATO, calls it 'disappointing'

Trump's outrage at NATO allies over their failure to join the Iran war had prompted fears he would seek to pull the United States out of the nearly eight-decade-old alliance.

United Arab Emirates

UAE urges full compliance from Iran following ceasefire announcement

The UAE is seeking clarifications on the US-Iran ceasefire deal regarding attacks across the Gulf, as well as on the reopening of the Strait of Hormuz as a “central priority”, as Tehran's blockade continues despite its commitment to reopen the strait to free navigation.

Economy

Could billions in frozen Iranian assets help the US unlock a deal?

Ahead of US-Iran negotiations in Islamabad on Friday, a top demand from Tehran will likely be the unlocking of its frozen assets abroad. Trump will have to consider handing back the fortune he once locked away.

Iran

Iran rules out restriction on enrichment programme, nuclear chief says

The issue of uranium enrichment has been central to Western relations with Iran for more than two decades, with the US and its allies accusing Tehran of seeking atomic weapons.

Markets

Newly-made Polymarket accounts won massively on US-Iran ceasefire bets

Newly-made Polymarket accounts bet big on the US-Iran ceasefire mere hours before Trump's announcement profiting hundreds of thousands of dollars and raising suspicions of insider trading.

Iran

Confusion reigns over Hormuz reopening as Iran issues new conditions

Normal shipping in the Strait of Hormuz has not yet resumed as per the ceasefire deal, as Iran consolidates its hardline, unilateral position on lifting its blockade in apparent contradiction of the rollercoaster ceasefire deal.

Iran

Pro-Iran groups use AI to troll Trump and try to control war narrative

Analysts say the memes appear to be coming from groups linked to the government in Tehran and are part of a strategy of leveraging its limited resources to inflict damage on the US.

Europe in Motion

How do Europeans' political views shape their opinion of the Iran war?

The ripple effects of the wars in the Middle East and Ukraine are being felt across Europe, with citizens divided over countries' political and military responses.

Culture news

'Infantile name calling': George Clooney responds to White House slur

The White House has lashed out at Oscar winner George Clooney for criticising Donald Trump’s threats to Iran: “The only person committing war crimes is George Clooney for his awful movies and terrible acting ability.” Now, the actor has responded, calling the comments “infantile name calling”.