It's been one hell of a week for EU energy markets. Even before the Iran war, energy was a major concern in Europe and now that weakness has been brutally exposed once again. Read the weekend story from myself and @albertonardelli.bsky.social 👇 www.bloomberg.com/news/article...

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Russia's economic strains are seeping into its military firms and industrial regions, documents reviewed by @bloomberg.com show www.bloomberg.com/news/article...

“Dear Jonas: Considering your Country decided not to give me the Nobel Peace Prize for having stopped 8 Wars PLUS, I no longer feel an obligation to think purely of Peace… www.bloomberg.com/news/article...

Sticking your head in the sand and hoping for the best is not a strategy when so much of consequence is at stake. Inadequacy abounds, leadership is MIA.

Promises

Maybe I’ve become more cynical with age, but it’s curious how Russia re-engages with peace talks whenever there’s the whiff of possible new US sanctions

🇪🇺 🇺🇸 Trump administration issues new "maximalist" demands for EU trade deal, reports @albertonardelli.bsky.social "EU officials view the requests as maximalist and the concessions as significant... " Bloomberg www.bloomberg.com/news/article...

NEW: Documents reviewed by Bloomberg reveal Russia's plans to disrupt and undermine Moldova's elections: www.bloomberg.com/news/article...

The US has signalled that it’s prepared to significantly ramp up sanctions on Russia provided that Europe does too www.bloomberg.com/news/article...

The question that European leaders have been hiding from and have been too afraid to answer is whether they can trust Trump, even as he continues to gaslight them. My take on today’s DC meetings: www.bloomberg.com/news/newslet...

Russia’s second largest bank, VTB Bank PJSC, is seeing a sustained deterioration in profits made from lending, feeding concern at the bank over its stability amid the economic pressures from President Vladimir Putin’s war on Ukraine www.bloomberg.com/news/article...

One for fellow tomato obsessives www.bloomberg.com/news/feature...

Important detail in the EO www.whitehouse.gov/presidential... on EU-US tariff arrangements and those of other trading partners

Some holiday thoughts on the EU-US "deal" ... [something to do while the baby has a nap] mostfavourednation.substack.com/p/some-thoug...

The EU's trade agreement with the US -- if implemented as advertised -- is the least bad outcome available to the bloc among the options actually on the table and given the position of the its biggest member states www.bloomberg.com/news/article...

❗️NEW: EU plans to quickly hit the US with 30% tariffs on some €100 bn worth of goods in the event of no deal and if Trump carries through with his threat to impose that rate on most of the bloc’s exports after Aug. 1. With Arne Delf & @albertonardelli.bsky.social www.bloomberg.com/news/article...

❗️NEW: EU plans to step up its engagement with other countries hit by Trump’s tariffs following a slew of new threats, including coordinating G-7 Canada & Japan, we’re told. EC to share w MS new €72bn list today. W @albertonardelli.bsky.social & @afpal.bsky.social www.bloomberg.com/news/article...

Documents obtained by Bloomberg reveal how Russia has been working with Chinese companies since end 2022 to manufacture and localize the production of drones used against Ukraine www.bloomberg.com/news/article...

The EU is willing to accept a trade arrangement with the US that includes a 10% universal tariff on many of the bloc’s exports, but wants the US to commit up front to lower rates on key sectors www.bloomberg.com/news/article...

Season 4 is just so good. Perfect.

The EU and US are confident they can reach some type of agreement on trade/tariffs by July 9 deadline www.bloomberg.com/news/article...

Key questions in EU-US trade negotiations are coming into focus: how much asymmetry — if any — can the EU accept and will it go for countermeasures to correct any imbalances in the event of sub-optimal arrangements www.bloomberg.com/news/article...

The US is opposing a European push to lower the G7 price cap on Russian oil www.bloomberg.com/news/article...

“Two Weeks”

The EU has proposed sanctioning two small Chinese banks for helping Russia get around existing restrictions www.bloomberg.com/news/article...

EU sees framework agreement on principles with US before July deadline to then for allow trade negotiations to continue as best case scenario. Talks have gathered pace but an asymmetrical outcome remains likely, so EU continues work on potential countermeasures www.bloomberg.com/news/article...

Hegseth’s reassurances to US allies in Asia were welcome — but they’re not yet sure whether they can trust his boss www.bloomberg.com/news/article...

Ballon d’Or? Discuss.

Well I for one am glad I did not get up at 3am to watch the football

Europe's key message to SE Asia: Russia and China threats are linked, and we need to work together to preserve the rules based order. “If you are worried about China, you should be worried about Russia,” the EU's HR/VP Kaja Kallas told the #SLD25 in Singapore www.bloomberg.com/news/article...

China has cut drone and component sales to the west, while continuing to boost shipments to Russia www.bloomberg.com/news/article...

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❗️NEW: EU’s @marossefcovic.bsky.social will focus political talks on the “Big Five” strategic sectors, after VDL promised Trump to accelerate trade negotiations in call, we’re told. Technical track will keep on tariff/non-tariffs With @albertonardelli.bsky.social www.bloomberg.com/news/article...

The EU is considering cutting more than 20 banks from SWIFT, lowering oil price cap, further export restrictions and banning Nord Stream pipelines as part of a new sanctions package on Russia over its full-scale war of aggression against Ukraine www.bloomberg.com/news/article...

The gist of the problem here is that the US is not looking for a deal that works for both parties. They are looking for a tribute, an offering from the EU. From the White House perspective, the EU isn't getting it. This is a shake down. Not a negotiation. Trade war coming.

Here’s what’s in the EU trade proposal that Trump is shunning www.bloomberg.com/news/article...

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Europe waits to find out where Trump swerves to next on Russia www.bloomberg.com/news/article...

A short thread (sorry) with the latest on EU-US trade talks: - US has shared a very generic paper - an unrealistic wish-list - US "deals" with China and UK provide little clarity, as keep in place many tariffs, while landing zone and baseline unclear

The world number one is back

One of the most interesting aspects of the US-UK trade deal is that it suggests that these negotiations are mostly an exercise in damage limitation resulting in asymmetrical arrangements where everyone is going to be worse off than they were before Trump's tariffs

This game is just unbelievable

❗️SCOOP: EC preparing a new list to hit about €100bn in US good with additional tariffs if trade talks fail, we’re told List will be shared as early as tomorrow - consultation for a month With Alberto Nardelli www.bloomberg.com/news/article...

SCOOP: The EU is set to propose measures to ban Russian gas imports by the end of 2027, as the bloc pushes to sever ties with the country that was once its biggest energy supplier www.bloomberg.com/news/article... with @albertonardelli.bsky.social and Ewa Krukowska

NEW: Our exclusive deep dive into a suspected Russian-led cell behind the parcel bomb plots with the first interviews with those directly involved, revealing how the sabotage campaign unfolded on the ground With @shaunwalker7.bsky.social www.theguardian.com/world/2025/m...

Masterpiece

US officials have prepared a set of options to increase economic pressure on Russia, as Moscow continues to drag its feet over attempts to end the war in Ukraine. No decision yet as diplomatic efforts ongoing and any decision would be for President Trump alone www.bloomberg.com/news/article...

EU to draft trade proposals for US negotiators next week, as well as potential retaliatory measures should talks fail www.bloomberg.com/news/article...