European Union News

Russia Loses EU Case Aimed at Unblocking Sanctioned €70 Billion

Russia’s National Settlement Depository lost a bid to overturn European Union sanctions over its alleged role in helping fund President Vladimir Putin’s invasion of Ukraine. The Moscow-based institution was hit by EU sanctions in 2022 when the bloc alleged that …

Summer 2024 Was World’s Hottest on Record: EU Climate Change Monitor

The world is emerging from its warmest northern hemisphere summer since records began, the European Union’s climate change monitoring service said on Friday, as global warming continues to intensify. The boreal summer of June to August this year blew past …

EU Lawmakers Warn of Hungary, Poland Spyware Abuses

European Union lawmakers investigating the use of Pegasus spyware against opposition politicians and journalists on May 9 raised deep concern about abuses in Hungary and Poland and lamented a lack of cooperation with their inquiry. The spyware developed by developed …

Fund Groups Warn Against EU Idea of Legally Defining ‘Greenwashing’

LONDON, Jan 16 (Reuters) – European Union regulators should not define greenwashing in law, fund industry groups have told the bloc’s markets watchdog, citing concerns this would complicate a sector in “constant flux.” Trillions of dollars have flowed into investments …

Scope of EU Ban on Russian Coal and Fertilizers Jolts Insurers

The European Union jolted insurers and shippers by clarifying that a ban on EU entities servicing exports of Russian coal and some fertilizers applies to shipments anywhere in the world. An EU ban on imports of Russian coal and other …

Climate Change Activists ‘Welcome’ AIG CEO Zaffino; EU Urges More Insurance

Climate change is weakening the ocean currents that shape weather on both sides of the Atlantic. The Atlantic Meridional Overturning Circulation during the 20th century has weakened more than at any other time over the last 1,000 years, new research …

European Union Weighs Emergency Approvals for COVID Vaccines

The European Commission said on Tuesday that it was considering emergency approvals for COVID-19 vaccines as a faster alternative to more rigorous conditional marketing authorisations which have been used so far. The move would mark a big shift in approach …

Fears of Brexit With No Trade Deal Rise Over State Aid Dispute

The chances of Britain leaving the European Union without a trade deal have risen sharply as negotiations have been threatened by London’s insistence that it have full autonomy over its state aid plans, negotiators and diplomats said. The United Kingdom …

London Market’s IUA Warns Against Expansion of EU Motor Insurance Directive

The European Motor Insurance Directive (MID) should not be extended to include liability for accidents on private property, warned the International Underwriting Association (IUA). An expansion of the EU directive’s scope to cover vehicles such as ride-on lawn mowers and …

EU Aims to Hike Old-Age Protection with Proposal for Pan-Europe Pension Product

The European Commission proposed on Thursday establishing a new pan-European pension product to increase private savings for old age and boost the growth of an EU industry currently worth some 700 billion euros ($800 billion). The measure is part of …