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EU delays proposal to ban Russian oil amid Iran war and price spikes

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Economy

Is the Iran war pushing Europe into a stagflation crisis?

Economy

State pensions in Europe: Where do they best cover the cost of living?

Europe News

Von der Leyen clinches Australia trade deal

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Europe News

EU says Mercosur deal set for provisional application from 1 May

The EU executive finalised procedures to provisionally implement the contentious Mercosur trade deal, with tariff cuts on goods to take effect from 1 May despite a legal challenge at the EU Court of Justice.

Economy

IEA: Global economy faces ‘major, major threat’ because of Iran war

War in the Middle East has 'severely' damaged more than 40 energy assets across nine countries, said the head of the International Energy Agency, as he warned of deepening risks to the global economy.

Economy

Is Europe going to be forced to return to nuclear energy?

With the EU still importing over 50% of its energy and facing persistently high electricity bills, the debate over a nuclear revival to ensure independence and affordability has been reignited.

Economy

Spain unveils €5bn energy package to offset costs of Iran war

The Spanish government has approved a package of 80 measures to tackle rising energy prices and mitigate the broader economic impact of the war in the Middle East.

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Economy

IEA urges swift cuts in oil demand, encourages remote work

As the war in the oil-rich Middle East keeps escalating, the International Energy Agency is calling on governments to take measures to reduce oil demand by pushing remote working, reducing speed limits and encouraging a shift towards public transport.

Economy

Fuel taxes across Europe: Where do consumers pay the most?

Fuel prices across Europe are soaring, with taxes making up more than half of the cost at the pump in many countries. Euronews Business examines how differences in taxes mean motorists in some countries now pay far more at the pump than others.

Economy

Iran war has 'material impact' on inflation, ECB's Lagarde warns

ECB holds rates, warning Middle East tensions and oil risks could push inflation higher. Baseline sees 2.6% in 2026, but energy shocks could lift it to 3.5% or 4.4%, depending on how long supply disruptions persist.

Economy

ECB keeps rates steady as rising energy prices fuel inflation concerns

The European Central Bank (ECB) kept its key policy rates on hold on Thursday, as fresh spikes in oil and gas prices threaten to derail recent progress in reducing inflation.

Economy

Bank of England holds rate at 3.75% amid Iran war inflation fears

The Bank of England has held its main interest rate at 3.75% in the wake of rising oil and gas prices following the start of the Iran war.

Europe News

MEPs clear path for full adoption of EU–US trade deal

EU lawmakers moved closer to implementing the EU–US trade deal after a key committee vote, but tensions with Washington persist.

Economy

Brent crude oil crosses $119 after Iran hit largest Qatari energy site

Brent crude oil traded briefly above $119 a barrel after Iran struck Qatar’s largest energy site, the Ras Laffan gas field. The attack was in response to Israeli strikes against the Iranian South Pars gas field.

Economy

Fed projects one rate cut, sees limited Iran war impact

Federal Reserve officials say the war in Iran is likely to push up inflation this year, while having little impact on economic growth.

Economy

Oil surges to $110 after Israel hits Iran's energy facilities

Brent crude oil prices surged to $110 a barrel after Israel attacked the largest gas plant and another oil facility in Iran. The Islamic Revolutionary Guard Corps of Iran (IRGC) reacted by announcing that some Gulf energy sites are "legitimate targets".

Economy

Moody's says US recession increasingly 'hard to avoid' amid Iran war

Moody’s Analytics model forecasts a 49% chance of a US recession in the next 12 months, the closest probability in years.

Economy

Federal Reserve not likely to cut rates as Iran war stokes inflation

The Federal Reserve is expected to hold interest rates steady and may signal it will not cut rates at all this year as the Iran war complicates the central bank's inflation outlook.

Europe News

Von der Leyen to visit Australia as trade deal nears finish line

The European Commission is eyeing another deal in its push to diversify trade ties, with President Ursula von der Leyen set to visit Australia from March 23 to 25 to clinch a long-awaited agreement.

Economy

ZEW index: German investor sentiment hits lowest level in a year

German investor morale has plunged to its lowest level in almost a year, with sentiment in the eurozone also deteriorating, as the Middle East conflict rattles European markets.

Economy

Hormuz tensions threaten Asia's energy lifeline as crisis deepens

Countries across Asia are scrambling to contain surging energy costs and fuel shortages as disruptions in the Strait of Hormuz threaten supplies.

Economy

Iran raises minimum wage by 60% as war decimates household budgets

The Iranian regime has announced a 60% increase in the minimum wage as the country grapples with the ongoing war and record inflation.

Economy

Real GDP growth in Europe: Which countries grew the most in 2025?

Spain has the highest real GDP growth among major economies while Germany lags behind. Euronews Business takes a closer look at the figures, with experts explaining the key drivers.

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Economy

US Treasury chief hails 'very good' China talks ahead of Trump visit

High-level US and Chinese officials have wrapped up two days of economic discussions in Paris, with the US Secretary of Treasury describing the sessions as productive ahead of President Trump's visit to China.

Economy

Explainer: Why Kharg Island is vital to Iran and the global economy

Strikes have already hit military infrastructure on a small Iranian island in the Persian Gulf — but if oil facilities are targeted next, the global economy could face a serious shock.

Europe News

EU-US trade remains strong despite tariff pressure, study finds

Despite trade tensions, US–EU goods trade hit a record $1.05 trillion in 2025, while the US goods deficit with the bloc fell just 7%, a study by the American Chamber of Commerce to the EU found.

Economy

Hormuz becomes world's costliest waterway after 300% premium surge

Missile threats, soaring insurance premiums and suspended voyages are reshaping the trade that once went through Hormuz — and consumers will feel it within weeks.

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Economy

Oil prices rise as Trump presses allies to secure the Strait of Hormuz

Oil prices continue to rise as the Iran war enters its third week, with President Trump pushing allies to help secure the Strait of Hormuz as investors react to threats facing Middle Eastern export facilities.

Economy

Why is chocolate so expensive — and where have prices risen most?

Chocolate prices rose 18% across the EU in 2025 — the highest increase of any food item — as drought in West Africa drove up cocoa costs. But the impact has varied widely across Europe.

Economy

AI at work: Anthropic finds use still far below its potential

AI giant Anthropic compared observed AI exposure and theoretical AI capability in the labour market. The analysis shows that AI is still far from reaching its theoretical potential.

Economy

Diplomacy al dente: US withdraws anti-dumping duties on Italian pasta

The Italian Foreign Ministry, in cooperation with the European Commission, succeeded in obtaining a reduction in the anti-dumping duties introduced by the US administration on Italian pasta imported into the country

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Europe News

'Trade caught in US domestic politics,' lead Brussels lawmaker says

MEPs will reach out to US trade officials next week in a bid to salvage the transatlantic trade deal as Washington opens new investigations on EU goods. But lawmakers worry Brussels is being pulled into an unpredictable standoff driven by US domestic politics.

Economy

Democrats say Trump tariffs could cost US households more than $2,500

Congressional Democrats warn new tariffs could raise household costs as the administration moves to replace revenue lost after a Supreme Court ruling.

Economy

US expands Russian oil waiver to all countries in bid to cool prices

The US has expanded a temporary sanctions waiver on the purchase of stranded Russian oil from India alone to all countries worldwide as part of ongoing efforts to ease pressure on global energy prices.

Economy

Could oil prices really reach $200 a barrel as claimed by Iran?

As the Iran war approaches the two-week mark, energy markets are bracing for a potential "super shock". The IRGC has repeatedly threatened to push oil prices up to $200 per barrel, leveraging its control over the Strait of Hormuz, but how realistic is this scenario?

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Economy

Trump admin could suspend a century-old law in bid to curb oil prices

The Trump administration is allegedly set to suspend the Jones Act, a century-old federal maritime law. A waiver would allow foreign tankers to transport cargo between US ports as oil prices remain above $100.

Economy

Global banks tighten security in Gulf hubs after new Iran threat

Precautionary moves by global lenders highlight growing concern that regional tensions could disrupt banking operations in the Gulf, as Iran is signalling that it may diversify its attacks.

Economy

Oil shock splits the world: Who's gaining and who's paying the price?

As oil prices surge, one question is emerging as the key determinant of economic vulnerability: does a country sell energy, or buy it?

Europe News

Commission denies unfair trade practices as US opens new probe

The European Commission dismissed new US trade investigations as unjustified, as uncertainty keeps growing over the EU–US trade deal struck in the summer of 2025.

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Europe News

EU’s largest economies push for faster capital market integration

France, Germany, Italy, the Netherlands, Poland and Spain are urging the EU to agree by summer on a set of proposals designed to strengthen oversight of financial market infrastructures and improve operations across the bloc.

Economy

Iran strikes neutralise record IEA reserves release as oil tops $100

Oil spiked above $100 a barrel on Thursday following fresh Iranian attacks on Omani oil storage facilities, reversing any downward pressure from the IEA's record release of 400mn barrels announced the previous day.

Economy

Meat prices are surging — and these European countries feel it most

Livestock shortages, animal disease and strong demand have pushed up meat prices across Europe, with some countries seeing increases of more than 20%.

Economy

IEA approves historic 400m barrel oil release amid Iran crisis

The 32-member International Energy Agency has unanimously agreed to release 400 million oil barrels from its global strategic reserves in an attempt to prevent supply disruptions and ease market fears caused by Iran war shortages.

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World

Vast gas reserves: can fracking make Germany energy independent?

In 2024, 67 per cent of the energy used in Germany had to be imported, according to the Federal Statistical Office. This puts Germany above the EU average of 57 per cent of imported energy. According to experts, Germany could produce domestic gas.

Economy

How high could Europe's inflation go if the Iran war continues?

Economists estimate that rising oil and gas prices could significantly lift eurozone inflation. Markets have already begun pricing in the risk of a rate hike in 2026.

Europe News

'Self-defeating': EU and US clash over Russia sanctions relief

Granting sanctions relief to Russia would be "self-defeating", Commissioner Valdis Dombrovskis said after Donald Trump's announcement.

Economy

Iran war shocks continue to ripple through the global economy

The Iran war is driving up energy and fertiliser prices, threatening food shortages in poor countries, destabilising fragile states and complicating inflation control at central banks worldwide.

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US to pay TotalEnergies $1bn to abandon offshore wind project

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