Why the EU faces an uphill battle to pass its 18th Russia sanctions package

Donald Trump is set to finalize a US-UK trade deal that will lower tariffs on British car exports in exchange for increased access for US beef and ethanol, following an agreement made with Sir Keir Starmer. While UK officials expect the deal to be signed soon, there are ongoing negotiations regarding zero-tariff access for UK steelmakers, amid concerns from the bioethanol industry about competition from US imports. More Context

The EU is targeting two Chinese banks for facilitating illegal trade with Russia as part of new sanctions, marking a significant step against third-country lenders. Meanwhile, the UK has reached a deal with Spain to allow free movement between Gibraltar and Spain, resolving a long-standing issue post-Brexit, while Italy faces pressure to increase military spending ahead of a NATO summit. More Context

The EU is preparing sanctions against two Chinese banks for allegedly facilitating banned trade with Russia, marking its first attempt to target a third-country lender involved in supporting Russia's invasion of Ukraine. These sanctions, included in the European Commission's latest measures, require unanimous approval from EU member states and aim to close loopholes that enable Moscow's military supply chains. The decision comes amid heightened tensions, as trade between Russia and China has surged, and as...

The article discusses the challenges faced by European entrepreneurs in scaling companies, noting that no EU start-up has surpassed a €100bn market cap in over 50 years, with SAP being the last in 1972. It critiques the European Commission's "Startup and Scaleup Strategy," arguing that while better regulation and support are needed, heavy-handed intervention is counterproductive. The author advocates for a public sector-enabled, private sector-led approach to foster synergy between start-ups and industry, emphasizing the...

The UK is nearing a deal with Spain and the EU regarding Gibraltar’s post-Brexit status, a lingering issue since Brexit's implementation in early 2020. UK Foreign Secretary David Lammy's recent meetings in Gibraltar and Brussels suggest progress, though officials warn that a final agreement is not yet guaranteed. Key points of contention include border policing and airport passport checks, with the UK prioritizing sovereignty while both Spain and the EU seek a role in managing...

Telefónica's Investment Strategy for Telecom ConsolidationTelefónica plans to invest in data centres and cyber security services to persuade European regulators to approve telecom mergers, aiming to lead consolidation in Europe. The company, under chair Marc Murtra, seeks to reduce the number of telecom operators from four to three in key markets, emphasizing that larger operators can enhance technological resilience. With the EU facing economic challenges, Telefónica is also considering acquiring the remaining 50% of Virgin...