European Commission President Ursula von der Leyen has unveiled a bold €2 trillion (about $2.3 trillion) EU budget proposal that includes new taxes on large corporations, tobacco, and electronic waste—setting the stage for intense political battles over the bloc’s financial and strategic priorities.
The plan aims to reshape Europe’s financial future, increasing defence spending fivefold, tripling border and migration funding, and doubling research investments—35% of which would go to climate and biodiversity efforts.
“It is a €2 trillion budget for a new era ... that confronts Europe’s challenges, that strengthens our independence,” she told reporters at a news conference.
A €100 billion (around $116 billion) fund is also earmarked for Ukraine, labelled by the EU's Budget Commissioner Piotr Serafin, as the EU's “most strategic partner.” But backlash followed swiftly.
Environmental groups and Green MEPs criticized the elimination of the only dedicated nature protection fund, calling it a dangerous move amid the biodiversity crisis.
Farmers and members of the European Parliament were similarly alarmed by a proposed merger of flagship policies such as agricultural and regional funds, warning of severe risks to farming stability.
However, EU officials argued that €300 billion (around $349 billion) in direct payments to farmers remain untouched.
Von der Leyen said the new taxes would ease pressure on national budgets, but countries such as Germany, the Netherlands, and Sweden criticized the plan as too costly.
Adding further tension, Hungary’s Prime Minister Viktor Orbán condemned the proposed Ukraine funding, insisting EU support should focus on farmers.
From 2028, the EU must start repaying its €750 billion ($872 billion) pandemic recovery loans, costing up to €30 billion ($35 billion) annually—double the current research budget.
The proposal requires unanimous approval from all 27 member states and the European Parliament.
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ASEAN and European Union (EU) officials gathered in Bandar Seri Begawan, Brunei Darussalam to attend the 25th ASEAN-European Union Ministerial Meeting (AEMM) from 27 to 28 April.
Russia has significantly expanded its blacklist of European Union officials and figures banned from entering the country, in retaliation for Brussels’ newly approved 20th sanctions package against Moscow.
The U.S. and the European Union are set to sign a memorandum of understanding on Friday to establish a partnership on the procurement and production of critical minerals, the U.S. State Department confirmed late on Thursday.
The European Union has introduced new trade restrictions on Kyrgyzstan under its 20th sanctions package against Russia, marking the first time a Central Asian country has faced measures targeting an entire trade channel.
A Pentagon official provided the first official estimate of the cost of the U.S. war in Iran on Wednesday (29 April), telling lawmakers that $25 billion had so far been spent on the conflict, most of it on munitions. Earlier, Donald Trump said that the U.S. had "militarily defeated" Tehran.
A report published by Minval Politika has raised new questions over alleged efforts by Luis Moreno Ocampo to shape international pressure against Azerbaijan and influence political dynamics around Armenia.
Tensions between the United States and Iran remain high after a U.S. official said President Donald Trump was unhappy with a proposal from Tehran that does not deal with its nuclear programme. Washington is insisting that any talks must address Iran’s nuclear activities.
The decision by the United Arab Emirates to leave OPEC+ on 1 May has put renewed focus on one of the most influential groups in global energy - and how its decisions can shape oil prices worldwide.
A senior adviser to Iran’s Supreme Leader warned the U.S. port blockade would fail, saying Tehran has ways to bypass it and could turn to confrontation if pressure persists, even as an extended U.S.–Iran ceasefire remains in place after weeks of deadly fighting earlier this year across the region.
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The U.S. House of Representatives approved a three‑year budget plan on Wednesday that clears the way for Congress to take up an additional $70 billion for immigration enforcement by federal agencies.
An initial inquiry into last year’s mass shooting at Bondi Beach has called for a series of counter-terrorism reforms, alongside increased security at Jewish public events and further gun control measures.
Britain's King Charles and Queen Camilla commemorated victims of the 11 September, 2001, an al Qaeda attack on New York City on Wednesday, laying a floral bouquet at the memorial where the World Trade Centre's twin towers once stood.
Two Jewish men have been stabbed in London in an incident that British police are treating as a terrorist attack.
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