The European Central Bank and EU central banks want Brussels to delete a MiCA rule requiring large stablecoin issuers to keep 60% of reserves in commercial banks, arguing the requirement could destabilize lenders and reduce liquidity management flexibility.
The British government, led by Sir Keir Starmer, proposed creating a single market for goods with the European Union as part of Brexit reset negotiations, but the EU rejected the idea. The proposal was made by Britain's chief negotiator Michael Ellam and would have represented a significant shift in post-Brexit relations.
The UK government quietly relaxed sanctions on Russian jet fuel and diesel imports as energy prices surge following the Strait of Hormuz closure. The move has drawn criticism from EU allies and opposition parties, with Brussels complaining about the surprise decision.
EU foreign ministers meeting in Brussels are set to approve sanctions on Israeli settlers, with the breakthrough coming after Hungary's new Prime Minister Péter Magyar replaced Viktor Orbán, who had previously blocked such measures.
Péter Magyar, Hungary's incoming prime minister, traveled to Brussels to meet with EU leaders in an effort to unlock billions of euros in frozen EU funds ahead of an August deadline. The visit marks a potential reset in Hungary-EU relations after years of tension under Viktor Orbán.
UN Secretary-General António Guterres warned that the escalating Gulf war between the US, Israel, and Iran is 'out of control' and urged all sides to step back from the brink. He announced the appointment of a special envoy to push for peace as the conflict approaches its one-month mark.
