The European Parliament has approved a relaxation of car and van CO₂ emissions targets, giving automakers more time to comply and potentially avoid billions in fines, following concerns over their readiness to meet 2025 goals.
European carmakers will now have additional time to meet EU carbon emissions targets, after the European Parliament backed a proposal to soften the rules - potentially reducing fines estimated at up to €15 billion.
The move comes amid concerns that the original targets, which rely heavily on the rapid rollout of electric vehicles, would be difficult to meet given that many European automakers lag behind their Chinese and American competitors in EV sales.
In response to sustained lobbying from the industry, the European Commission proposed that carmakers be assessed on their average emissions over the 2025-2027 period, rather than solely in 2025. The Parliament voted 458 in favor, 101 against, with 14 abstentions.
European Commission President Ursula von der Leyen defended the decision, saying it would offer manufacturers “breathing space.” Despite the change, Volkswagen noted that the extended compliance window would still present a significant challenge in 2025.
However, critics argue that automakers have had ample time - seven years - to prepare for the targets, and claim the projected fines have been significantly overstated.
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Azerbaijani President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan have concluded talks in Bishkek, the capital of Kyrgyzstan, as leaders gather for the Shanghai Cooperation Organisation (SCO) summit.
U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday, with Tehran responding by launching ballistic missiles at two U.S. bases in Jordan in the first direct U.S.-Iran military escalation in weeks.
Iran has reached an understanding with Oman on transit arrangements through the Strait of Hormuz, but the waterway will remain closed until the U.S. fulfils its commitments, a senior Iranian diplomat said on Saturday.
Russia views NATO’s growing military activity in the Arctic as a direct threat to its national security, Foreign Minister Sergei Lavrov said.
As leaders from across Eurasia gather in Kyrgyzstan for the Shanghai Cooperation Organisation (SCO) summit, the meeting is bringing together countries with very different interests, from China and Russia to India, Iran and Azerbaijan.
Iran will immediately reciprocate if the U.S. returns to its commitments under an interim deal signed in June, President Masoud Pezeshkian said on Tuesday at the Shanghai Cooperation Organisation Summit (SCO) in Bishkek, a city in Kyrgyzstan, the Iranian Student News Agency reported.
Israel and Greece have signed a €3 billion defence agreement that will see Israel build a new multi-layered air-defence system for Greece.
Russian air attacks on Kyiv and the surrounding region have killed four people and injured more than a dozen others, Ukrainian officials said, marking the sixth consecutive day of strikes on the area.
Spanish Prime Minister Pedro Sanchez said on Monday there were signs that Russian and Israeli networks helped spread disinformation about Spain’s migration policy, contributing to last month’s unprecedented surge of migrants into Ceuta.
A gathering of G20 finance ministers and central bank governors in Asheville, North Carolina, was dominated by sharp disagreements over Russia's presence, as the world's leading economies face mounting geopolitical and economic pressures.
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